Norges Bank Makes New Investment in InvenTrust Properties Corp. (NYSE:IVT)

Norges Bank bought a new stake in InvenTrust Properties Corp. (NYSE:IVT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 125,300 shares of the company’s stock, valued at approximately $3,775,000.

Other hedge funds have also made changes to their positions in the company. Millstone Evans Group LLC acquired a new position in InvenTrust Properties in the 4th quarter valued at about $27,000. Jones Financial Companies Lllp grew its stake 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 purchasing an additional 1,026 shares during the last quarter. Vestcor Inc acquired a new position in shares of InvenTrust Properties in the third quarter valued at approximately $104,000. US Bancorp DE raised its stake in shares of InvenTrust Properties by 19.8% during the fourth quarter. US Bancorp DE now owns 4,566 shares of the company’s stock worth $138,000 after purchasing an additional 756 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of InvenTrust Properties by 207.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,133 shares of the company’s stock worth $155,000 after purchasing an additional 3,462 shares during the period. Institutional investors and hedge funds own 61.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on IVT shares. Wells Fargo & Company dropped their price objective on shares of InvenTrust Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Wolfe Research initiated coverage on shares of InvenTrust Properties in a report on Thursday, March 20th. They set a “peer perform” rating for the company. Finally, Jefferies Financial Group upgraded shares of InvenTrust Properties from a “hold” rating to a “buy” rating and raised their price objective for the company from $33.00 to $34.00 in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, InvenTrust Properties presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

InvenTrust Properties Price Performance

Shares of NYSE IVT opened at $26.43 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.99 and a current ratio of 1.99. InvenTrust Properties Corp. has a one year low of $23.53 and a one year high of $31.65. The firm has a market capitalization of $2.05 billion, a P/E ratio of 146.86, a PEG ratio of 3.34 and a beta of 0.93. The company’s fifty day moving average is $29.09 and its two-hundred day moving average is $29.60.

InvenTrust Properties (NYSE:IVT) last posted its earnings results on Tuesday, February 11th. The company reported $0.43 earnings per share for the quarter, beating 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%. Analysts forecast that InvenTrust Properties Corp. will post 1.79 EPS for the current fiscal year.

InvenTrust Properties Increases Dividend

The firm also recently announced a quarterly 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. This is an increase from InvenTrust Properties’s previous quarterly dividend of $0.23. This represents a $0.95 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Monday, March 31st. InvenTrust Properties’s dividend payout ratio (DPR) is 527.78%.

InvenTrust Properties 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.