State of New Jersey Common Pension Fund D Sells 7,006 Shares of InvenTrust Properties Corp. (NYSE:IVT)

State of New Jersey Common Pension Fund D lessened its stake in InvenTrust Properties Corp. (NYSE:IVT) by 9.2% in the third quarter, HoldingsChannel reports. The fund owned 68,898 shares of the company’s stock after selling 7,006 shares during the period. State of New Jersey Common Pension Fund D’s holdings in InvenTrust Properties were worth $1,955,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farmers & Merchants Investments Inc. purchased a new position in InvenTrust Properties during the 3rd quarter valued at about $27,000. Creekmur Asset Management LLC increased its holdings in InvenTrust Properties by 96.7% during the 3rd quarter. Creekmur Asset Management LLC now owns 1,617 shares of the company’s stock valued at $46,000 after purchasing an additional 795 shares during the period. Hantz Financial Services Inc. purchased a new position in InvenTrust Properties during the 2nd quarter valued at about $57,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in InvenTrust Properties by 34.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,634 shares of the company’s stock valued at $75,000 after purchasing an additional 681 shares during the period. Finally, Beacon Capital Management LLC increased its holdings in InvenTrust Properties by 23.3% during the 2nd quarter. Beacon Capital Management LLC now owns 3,663 shares of the company’s stock valued at $91,000 after purchasing an additional 693 shares during the period. Institutional investors own 61.70% of the company’s stock.

InvenTrust Properties Price Performance

IVT stock opened at $30.16 on Monday. InvenTrust Properties Corp. has a fifty-two week low of $23.53 and a fifty-two week high of $31.37. The business’s 50 day moving average price is $29.51 and its two-hundred day moving average price is $27.28. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.59 and a current ratio of 3.59. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 335.15, a price-to-earnings-growth ratio of 3.63 and a beta of 0.97.

InvenTrust Properties (NYSE:IVT) last posted its earnings results on Tuesday, October 29th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.44). The firm had revenue of $68.52 million for the quarter. InvenTrust Properties had a return on equity of 0.42% and a net margin of 2.52%. During the same quarter last year, the business earned $0.41 EPS. As a group, analysts forecast that InvenTrust Properties Corp. will post 1.72 earnings per share for the current fiscal year.

InvenTrust Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.226 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.90 annualized dividend and a dividend yield of 3.00%. InvenTrust Properties’s payout ratio is currently 1,011.22%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IVT. Wells Fargo & Company boosted their price target on InvenTrust Properties from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Bank of America upgraded InvenTrust Properties from a “neutral” rating to a “buy” rating and upped their target price for the stock from $30.00 to $33.00 in a report on Thursday, October 3rd. Finally, Compass Point upped their target price on InvenTrust Properties from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th.

About InvenTrust Properties

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.