Vision Capital Corp Buys 260,457 Shares of InvenTrust Properties Corp. (NYSE:IVT)

Key Points

• Vision Capital Corp increased its stake in InvenTrust Properties Corp. by 290.9%, owning 350,000 shares after purchasing an additional 260,457 shares in Q1.
• BTIG Research set a new price target of $31.00 for InvenTrust, and the average price target currently stands at $31.80.
• InvenTrust Properties announced a quarterly dividend of $0.2377 per share, reflecting a boost from the previous dividend with an annual yield of 3.4%.

Vision Capital Corp increased its position in InvenTrust Properties Corp. (NYSE:IVT - Free Report) by 290.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 350,000 shares of the company's stock after buying an additional 260,457 shares during the period. InvenTrust Properties accounts for approximately 2.4% of Vision Capital Corp's investment portfolio, making the stock its 11th biggest holding. Vision Capital Corp owned about 0.45% of InvenTrust Properties worth $10,280,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in InvenTrust Properties by 6.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,044 shares of the company's stock valued at $501,000 after purchasing an additional 1,040 shares during the last quarter. Nuveen Asset Management LLC boosted 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 purchasing an additional 315,380 shares during the last quarter. Park Avenue Securities LLC acquired a new position in InvenTrust Properties during the 1st quarter valued at about $239,000. BNP Paribas Financial Markets purchased a new position in shares of InvenTrust Properties in the 4th quarter worth approximately $270,000. Finally, Merit Financial Group LLC purchased a new position in shares of InvenTrust Properties in the 1st quarter worth approximately $296,000. 61.70% of the stock is currently owned by institutional investors and hedge funds.

InvenTrust Properties Stock Performance

Shares of NYSE IVT traded up $0.06 during midday trading on Thursday, reaching $28.22. The company's stock had a trading volume of 575,194 shares, compared to its average volume of 392,240. InvenTrust Properties Corp. has a 12-month low of $25.21 and a 12-month high of $31.65. The firm has a 50 day moving average price of $27.53 and a 200-day moving average price of $28.22. The stock has a market capitalization of $2.19 billion, a P/E ratio of 19.60, a PEG ratio of 3.23 and a beta of 0.88. The company has a debt-to-equity ratio of 0.41, a current ratio of 5.26 and a quick ratio of 5.26.

InvenTrust Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.2377 dividend. This represents a $0.95 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Monday, June 30th. This is a boost from InvenTrust Properties's previous quarterly dividend of $0.24. InvenTrust Properties's dividend payout ratio (DPR) is presently 65.97%.

Wall Street Analyst Weigh In

Separately, BTIG Research began coverage on InvenTrust Properties in a research note on Monday, April 28th. They issued a "buy" rating and a $31.00 target price on the stock. Two 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 has an average rating of "Moderate Buy" and a consensus price target of $31.80.

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.