Northwest & Ethical Investments L.P. Purchases New Position in InvenTrust Properties Corp. $IVT

Key Points

• Northwest & Ethical Investments L.P. has acquired a new position in InvenTrust Properties Corp. by purchasing nearly 10,000 shares valued at approximately $292,000.
• InvenTrust Properties recently announced a quarterly dividend of $0.2377 per share, reflecting a slight decrease from the previous dividend and an annualized yield of 3.3%.
• BTIG Research has initiated coverage on InvenTrust Properties with a "buy" rating and a price target of $31.00, contributing to the stock's consensus rating of "Moderate Buy" and an average target price of $31.80.

Northwest & Ethical Investments L.P. purchased a new stake in InvenTrust Properties Corp. (NYSE:IVT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,942 shares of the company's stock, valued at approximately $292,000.

A number of other large investors have also recently modified their holdings of the company. NewEdge Advisors LLC boosted its holdings in shares of InvenTrust Properties by 29.4% in the fourth quarter. NewEdge Advisors LLC now owns 2,046 shares of the company's stock valued at $62,000 after purchasing an additional 465 shares during the period. State of Alaska Department of Revenue lifted its position in shares of InvenTrust Properties by 1.3% in the 1st quarter. State of Alaska Department of Revenue now owns 37,587 shares of the company's stock worth $1,103,000 after purchasing an additional 475 shares during the period. Cerity Partners LLC lifted its position in shares of InvenTrust Properties by 3.8% in the 1st quarter. Cerity Partners LLC now owns 14,844 shares of the company's stock worth $436,000 after purchasing an additional 545 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of InvenTrust Properties by 6.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,044 shares of the company's stock worth $501,000 after purchasing an additional 1,040 shares during the period. Finally, Allworth Financial LP lifted its position in shares of InvenTrust Properties by 12.3% in the 1st quarter. Allworth Financial LP now owns 10,098 shares of the company's stock worth $279,000 after purchasing an additional 1,106 shares during the period. Hedge funds and other institutional investors own 61.70% of the company's stock.

InvenTrust Properties Price Performance

Shares of IVT opened at $28.46 on Thursday. InvenTrust Properties Corp. has a fifty-two week low of $25.21 and a fifty-two week high of $31.65. The company has a 50 day moving average price of $27.55 and a 200-day moving average price of $28.18. The company has a debt-to-equity ratio of 0.41, a quick ratio of 5.26 and a current ratio of 5.26. The stock has a market capitalization of $2.21 billion, a PE ratio of 19.76, a PEG ratio of 3.12 and a beta of 0.88.

InvenTrust Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.2377 per share. The ex-dividend date of this dividend was Monday, June 30th. This is a positive change from InvenTrust Properties's previous quarterly dividend of $0.24. This represents a $0.95 dividend on an annualized basis and a yield of 3.3%. InvenTrust Properties's dividend payout ratio is currently 65.97%.

Wall Street Analysts Forecast Growth

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

InvenTrust Properties 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.

Want to see what other hedge funds are holding IVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for InvenTrust Properties Corp. (NYSE:IVT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.