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

Summit Global Investments acquired a new position in shares of InvenTrust Properties Corp. (NYSE:IVT - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 27,694 shares of the company's stock, valued at approximately $813,000.

A number of other hedge funds also recently added to or reduced their stakes in IVT. Millstone Evans Group LLC acquired a new stake in InvenTrust Properties during the 4th quarter worth approximately $27,000. GF Fund Management CO. LTD. acquired a new stake in InvenTrust Properties during the 4th quarter worth approximately $42,000. Bernard Wealth Management Corp. acquired a new stake in InvenTrust Properties during the 4th quarter worth approximately $50,000. Quarry LP acquired a new stake in shares of InvenTrust Properties in the 4th quarter valued at approximately $53,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of InvenTrust Properties by 123.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,858 shares of the company's stock valued at $56,000 after buying an additional 1,026 shares during the period. 61.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IVT. BTIG Research began coverage on InvenTrust Properties in a report on Monday, April 28th. They issued a "buy" rating and a $31.00 price target for the company. Wolfe Research began coverage on InvenTrust Properties in a report on Thursday, March 20th. They issued a "peer perform" rating for the company. Finally, Wells Fargo & Company reduced their price target on InvenTrust Properties from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, InvenTrust Properties presently has a consensus rating of "Moderate Buy" and an average price target of $31.80.

InvenTrust Properties Price Performance

NYSE IVT traded up $0.04 during mid-day trading on Wednesday, hitting $27.76. The stock had a trading volume of 115,955 shares, compared to its average volume of 421,642. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.42. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 154.22, a P/E/G ratio of 3.34 and a beta of 0.93. The company has a 50 day simple moving average of $27.78 and a 200 day simple moving average of $29.14. InvenTrust Properties Corp. has a 52-week low of $24.06 and a 52-week high of $31.65.

InvenTrust Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.2376 dividend. This is a positive change from InvenTrust Properties's previous quarterly dividend of $0.23. This represents a $0.95 annualized dividend and a yield of 3.42%. The ex-dividend date was Monday, March 31st. InvenTrust Properties's dividend payout ratio is presently 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.