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

InvenTrust Properties Corp. (NYSE:IVT) saw an uptick in trading volume on Friday following a dividend announcement from the company. 897,323 shares were traded during 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. Investors of record on Monday, March 31st will be given a $0.2376 dividend. This is a boost from InvenTrust Properties’s previous quarterly dividend of $0.23. This represents a $0.95 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Monday, March 31st. InvenTrust Properties’s dividend payout ratio (DPR) is currently 500.00%.

Wall Street Analysts Forecast Growth

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

InvenTrust Properties Price Performance

The business has a 50-day simple moving average of $29.56 and a two-hundred day simple 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 stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 159.32, a P/E/G ratio of 3.34 and a beta of 0.96.

InvenTrust Properties (NYSE:IVT) last announced 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%. As a group, research analysts predict that InvenTrust Properties Corp. will post 1.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On InvenTrust Properties

Institutional investors and hedge funds have recently modified their holdings of the stock. Bernard Wealth Management Corp. acquired a new stake in shares of InvenTrust Properties during the fourth quarter worth $74,000. Ameriflex Group Inc. acquired a new stake in InvenTrust Properties during the 4th quarter worth about $60,000. GF Fund Management CO. LTD. purchased a new stake in InvenTrust Properties during the fourth quarter valued at about $42,000. PharVision Advisers LLC acquired a new position in shares of InvenTrust Properties in the fourth quarter worth about $226,000. Finally, Voloridge Investment Management LLC boosted its stake in InvenTrust Properties by 62.3% in the 4th quarter. Voloridge Investment Management LLC now owns 235,376 shares of the company’s stock worth $7,092,000 after purchasing an additional 90,362 shares during the period. Institutional investors and hedge funds own 61.70% of the company’s stock.

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.