Connor Clark & Lunn Investment Management Ltd. Grows Stake in InvenTrust Properties Corp. $IVT

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in InvenTrust Properties Corp. by 20.8% during the first quarter, owning approximately 0.13% of the company valued at $2.87 million.
• InvenTrust Properties declared an increased quarterly dividend of $0.2377 per share, providing a 3.4% dividend yield for investors.
• Analysts have given InvenTrust Properties a consensus rating of "Moderate Buy" with a target price of $31.80.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in InvenTrust Properties Corp. (NYSE:IVT - Free Report) by 20.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,823 shares of the company's stock after acquiring an additional 16,827 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.13% of InvenTrust Properties worth $2,873,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of InvenTrust Properties by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 10,906,195 shares of the company's stock worth $320,315,000 after purchasing an additional 181,423 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of InvenTrust Properties by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 4,461,835 shares of the company's stock worth $131,044,000 after purchasing an additional 99,196 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of InvenTrust Properties by 51.9% in the 4th quarter. Millennium Management LLC now owns 2,457,305 shares of the company's stock worth $74,039,000 after purchasing an additional 839,541 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of InvenTrust Properties by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,314,430 shares of the company's stock worth $38,605,000 after purchasing an additional 36,397 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of InvenTrust Properties by 35.9% in the 4th quarter. Nuveen Asset Management LLC now owns 1,193,690 shares of the company's stock worth $35,966,000 after purchasing an additional 315,380 shares in the last quarter. 61.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, BTIG Research started coverage on InvenTrust Properties in a report on Monday, April 28th. They issued a "buy" rating and a $31.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, InvenTrust Properties presently has a consensus rating of "Moderate Buy" and an average price target of $31.80.

InvenTrust Properties Trading Up 1.1%

IVT stock traded up $0.2960 during trading on Tuesday, hitting $28.4460. 133,405 shares of the company traded hands, compared to its average volume of 411,365. The firm has a market capitalization of $2.21 billion, a PE ratio of 19.76, a P/E/G ratio of 3.23 and a beta of 0.88. InvenTrust Properties Corp. has a 1 year low of $25.21 and a 1 year high of $31.65. The company has a 50-day moving average of $27.53 and a 200-day moving average of $28.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 5.26 and a current ratio of 5.26.

InvenTrust Properties Increases Dividend

The business also recently announced 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. The ex-dividend date was Monday, June 30th. This represents a $0.95 annualized dividend and a yield of 3.3%. This is a boost from InvenTrust Properties's previous quarterly dividend of $0.24. InvenTrust Properties's dividend payout ratio (DPR) is currently 65.97%.

InvenTrust Properties Company Profile

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.