InvenTrust Properties (NYSE:IVT) Share Price Breaks Above 50 Day Moving Average – Here’s What Happened

InvenTrust Properties Corp. (NYSE:IVT) shares crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $31.00 and traded as high as $31.08. InvenTrust Properties shares last traded at $31.0020, with a volume of 806,111 shares.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IVT. Wells Fargo & Company set a $34.00 target price on InvenTrust Properties and gave the company an “overweight” rating in a report on Friday, October 23rd. Weiss Ratings upgraded shares of InvenTrust Properties from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. BTIG Research restated a “buy” rating and issued a $37.00 price objective on shares of InvenTrust Properties in a research report on Friday, August 28th. Wall Street Zen raised shares of InvenTrust Properties from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Truist Financial set a $32.00 target price on shares of InvenTrust Properties and gave the stock a “hold” rating in a report on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.57.

InvenTrust Properties Price Performance

The firm has a market capitalization of $2.41 billion, a P/E ratio of 83.62, a price-to-earnings-growth ratio of 2.53 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.73 and a current ratio of 1.01. The business has a 50 day simple moving average of $30.96 and a two-hundred day simple moving average of $32.08.

InvenTrust Properties (NYSE:IVT) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.22. InvenTrust Properties had a return on equity of 1.61% and a net margin of 8.68%. The firm had revenue of $87.12 million during the quarter, compared to the consensus estimate of $84.18 million. On average, sell-side analysts expect that InvenTrust Properties Corp. will post 1.95 EPS for the current fiscal year.

InvenTrust Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.00 annualized dividend and a yield of 3.2%. InvenTrust Properties’s payout ratio is presently 270.27%.

Hedge Funds Weigh In On InvenTrust Properties

A number of hedge funds and other institutional investors have recently bought and sold shares of IVT. Principal Financial Group Inc. boosted its stake in InvenTrust Properties by 24.9% in the first quarter. Principal Financial Group Inc. now owns 7,729,381 shares of the company’s stock worth $235,438,000 after buying an additional 1,539,672 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of InvenTrust Properties by 8.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,071,380 shares of the company’s stock worth $32,635,000 after acquiring an additional 80,985 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of InvenTrust Properties by 1,843.1% in the 2nd quarter. Wellington Management Group LLP now owns 647,037 shares of the company’s stock worth $22,905,000 after acquiring an additional 613,738 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of InvenTrust Properties in the 2nd quarter worth approximately $19,354,000. Finally, Adelante Capital Management LLC purchased a new stake in shares of InvenTrust Properties in the 2nd quarter valued at $13,400,000. Hedge funds and other institutional investors own 61.70% of the company’s stock.

About InvenTrust Properties

InvenTrust Properties Corp. (NYSE: IVT) is a self-managed real estate investment trust that owns, leases and manages open-air, grocery-anchored shopping centers. Its properties are generally focused on necessity-based retail, including grocery stores, restaurants, health and wellness providers, and other service-oriented businesses.

The company’s portfolio is concentrated in high-growth markets across the Sun Belt region of the United States, including communities in the Southeast, Southwest and Texas.