Summit Global Investments Takes Position in InvenTrust Properties Corp. (NYSE:IVT)

Summit Global Investments purchased a new stake in shares of InvenTrust Properties Corp. (NYSE:IVT - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 27,694 shares of the company's stock, valued at approximately $813,000.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of InvenTrust Properties by 6.0% in the 4th quarter. Principal Financial Group Inc. now owns 4,362,639 shares of the company's stock valued at $131,446,000 after acquiring an additional 245,343 shares during the last quarter. Millennium Management LLC lifted its stake 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 valued at $74,039,000 after acquiring an additional 839,541 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of InvenTrust Properties by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 1,936,730 shares of the company's stock valued at $58,366,000 after acquiring an additional 120,014 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in InvenTrust Properties by 8.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,278,033 shares of the company's stock worth $38,507,000 after acquiring an additional 98,366 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in 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 institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IVT shares. Wolfe Research initiated coverage on shares of InvenTrust Properties in a research note on Thursday, March 20th. They set a "peer perform" rating on the stock. Wells Fargo & Company cut their price objective on InvenTrust Properties from $33.00 to $32.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Finally, BTIG Research initiated coverage on InvenTrust Properties in a research report on Monday, April 28th. They issued a "buy" rating and a $31.00 target price for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $31.80.

InvenTrust Properties Stock Down 0.4%

IVT traded down $0.10 during midday trading on Monday, reaching $27.99. The company's stock had a trading volume of 319,691 shares, compared to its average volume of 423,089. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 155.50, a PEG ratio of 3.34 and a beta of 0.93. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.42. InvenTrust Properties Corp. has a 1 year low of $24.06 and a 1 year high of $31.65. The stock's 50-day moving average is $27.84 and its 200-day moving average is $29.17.

InvenTrust Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.2376 per share. The ex-dividend date was Monday, March 31st. This represents a $0.95 annualized dividend and a yield of 3.40%. This is a boost from InvenTrust Properties's previous quarterly dividend of $0.23. InvenTrust Properties's dividend payout ratio is currently 413.04%.

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.