Panagora Asset Management Inc. Makes New Investment in InvenTrust Properties Corp. $IVT

Key Points

• Panagora Asset Management Inc. has acquired a new stake in InvenTrust Properties Corp., purchasing 97,710 shares valued at approximately $2.87 million.
• A number of institutional investors, including Vanguard Group and Principal Financial Group, have also increased their holdings in InvenTrust Properties, with institutional ownership totaling 61.70% of the stock.
• Wells Fargo raised its price target for InvenTrust Properties from $32.00 to $34.00, maintaining an "overweight" rating, with an average target price across analysts at $32.20.

Panagora Asset Management Inc. purchased a new position in shares of InvenTrust Properties Corp. (NYSE:IVT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 97,710 shares of the company's stock, valued at approximately $2,870,000. Panagora Asset Management Inc. owned approximately 0.13% of InvenTrust Properties as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its position in shares of InvenTrust Properties by 6.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,044 shares of the company's stock worth $501,000 after buying an additional 1,040 shares during the last quarter. Nuveen Asset Management LLC raised its stake in InvenTrust Properties by 35.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,193,690 shares of the company's stock valued at $35,966,000 after acquiring an additional 315,380 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of InvenTrust Properties in the 1st quarter valued at approximately $239,000. BNP Paribas Financial Markets purchased a new stake in shares of InvenTrust Properties during the fourth quarter worth approximately $270,000. Finally, Merit Financial Group LLC acquired a new stake in shares of InvenTrust Properties during the first quarter worth $296,000. 61.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wells Fargo & Company raised their target price on shares of InvenTrust Properties from $32.00 to $34.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $32.20.

InvenTrust Properties Price Performance

Shares of IVT traded up $0.11 during trading hours on Friday, reaching $29.94. 258,077 shares of the company traded hands, compared to its average volume of 368,933. The company has a quick ratio of 5.26, a current ratio of 5.26 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $2.32 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 3.26 and a beta of 0.88. The stock has a fifty day simple moving average of $27.96 and a 200 day simple moving average of $28.14. InvenTrust Properties Corp. has a fifty-two week low of $25.21 and a fifty-two week high of $31.65.

InvenTrust Properties Increases Dividend

The firm 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. This represents a $0.95 annualized dividend and a yield of 3.2%. This is a boost from InvenTrust Properties's previous quarterly dividend of $0.24. The ex-dividend date was Monday, June 30th. InvenTrust Properties's dividend payout ratio (DPR) is currently 65.97%.

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.