Cresset Asset Management LLC Sells 15,562 Shares of InvenTrust Properties Corp. $IVT

Key Points

• Cresset Asset Management LLC significantly reduced its stake in InvenTrust Properties Corp. by 62.3%, selling 15,562 shares to end with 9,400 shares valued at approximately $278,000.
• InvenTrust Properties increased its quarterly dividend to $0.2377, resulting in an annualized dividend of $0.95 and a yield of 3.2%, reflecting a positive change from the previous quarterly dividend.
• Wall Street analysts have a consensus rating of "Moderate Buy" for InvenTrust Properties, with a target price averaging $31.80 based on recommendations from several research analysts.

Cresset Asset Management LLC reduced its stake in shares of InvenTrust Properties Corp. (NYSE:IVT - Free Report) by 62.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,400 shares of the company's stock after selling 15,562 shares during the quarter. Cresset Asset Management LLC's holdings in InvenTrust Properties were worth $278,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its stake in InvenTrust Properties by 6.1% during the first quarter. American Century Companies Inc. now owns 24,399 shares of the company's stock worth $717,000 after acquiring an additional 1,408 shares during the last quarter. Aberdeen Group plc increased its stake in InvenTrust Properties by 5.0% during the first quarter. Aberdeen Group plc now owns 28,710 shares of the company's stock worth $843,000 after acquiring an additional 1,371 shares during the last quarter. Vision Capital Corp increased its stake in InvenTrust Properties by 290.9% during the first quarter. Vision Capital Corp now owns 350,000 shares of the company's stock worth $10,280,000 after acquiring an additional 260,457 shares during the last quarter. Russell Investments Group Ltd. increased its stake in InvenTrust Properties by 42.7% during the first quarter. Russell Investments Group Ltd. now owns 72,086 shares of the company's stock worth $2,117,000 after acquiring an additional 21,557 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. increased its stake in InvenTrust Properties by 8.9% during the first quarter. Resona Asset Management Co. Ltd. now owns 33,625 shares of the company's stock worth $983,000 after acquiring an additional 2,762 shares during the last quarter. 61.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company boosted their price objective on InvenTrust Properties from $32.00 to $34.00 and gave the stock an "overweight" rating in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, InvenTrust Properties currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.20.

InvenTrust Properties Trading Up 0.4%

IVT traded up $0.10 on Thursday, reaching $29.78. 324,171 shares of the company traded hands, compared to its average volume of 390,324. InvenTrust Properties Corp. has a one year low of $25.21 and a one year high of $31.65. The firm has a fifty day simple moving average of $27.72 and a two-hundred day simple moving average of $28.16. The company has a market cap of $2.31 billion, a P/E ratio of 20.68, a price-to-earnings-growth ratio of 3.24 and a beta of 0.88. The company has a quick ratio of 5.26, a current ratio of 5.26 and a debt-to-equity ratio of 0.41.

InvenTrust Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.2377 per share. This represents a $0.95 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Monday, June 30th. This is a positive change from InvenTrust Properties's previous quarterly dividend of $0.24. InvenTrust Properties's dividend payout ratio (DPR) is 65.97%.

About InvenTrust Properties

InvenTrust Properties Corp. (the "Company," "IVT," or "InvenTrust") is a premier Sun Belt, multi-tenant essential retail REIT that owns, leases, redevelops, acquires and manages grocery-anchored neighborhood and community centers as well as high-quality power centers that often have a grocery component.