InvenTrust Properties (NYSE:IVT) Sees Large Volume Increase Following Dividend Announcement

InvenTrust Properties Corp. (NYSE:IVT) saw strong trading volume on Friday after the company announced a dividend. 897,323 shares were traded during mid-day trading, an increase of 133% from the previous session’s volume of 384,417 shares.The stock last traded at $28.35 and had previously closed at $28.36.

The newly announced dividend which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.2376 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from InvenTrust Properties’s previous quarterly dividend of $0.23. This represents a $0.95 dividend on an annualized basis and a dividend yield of 3.31%. InvenTrust Properties’s dividend payout ratio (DPR) is presently 500.00%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group raised InvenTrust Properties from a “hold” rating to a “buy” rating and lifted their price target for the company from $33.00 to $34.00 in a report on Thursday, January 2nd.

InvenTrust Properties Price Performance

The stock has a fifty day moving average of $29.53 and a 200-day moving average of $29.76. 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 firm has a market capitalization of $2.22 billion, a P/E ratio of 159.32, a PEG ratio of 3.34 and a beta of 0.96.

InvenTrust Properties (NYSE:IVT) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.39. InvenTrust Properties had a return on equity of 0.83% and a net margin of 4.99%. Equities analysts predict that InvenTrust Properties Corp. will post 1.79 EPS for the current fiscal year.

Institutional Trading of InvenTrust Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in IVT. US Bancorp DE raised its holdings in InvenTrust Properties by 39.8% during the 3rd quarter. US Bancorp DE now owns 3,810 shares of the company’s stock worth $108,000 after purchasing an additional 1,085 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in InvenTrust Properties by 6.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 81,470 shares of the company’s stock worth $2,311,000 after purchasing an additional 5,221 shares during the last quarter. Signature Estate & Investment Advisors LLC grew its position in shares of InvenTrust Properties by 6.9% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 13,723 shares of the company’s stock worth $389,000 after buying an additional 882 shares during the period. Thrivent Financial for Lutherans acquired a new position in shares of InvenTrust Properties during the 3rd quarter worth about $1,980,000. Finally, Jennison Associates LLC acquired a new position in shares of InvenTrust Properties during the 3rd quarter worth about $664,000. 61.70% of the stock is owned by institutional investors.

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.