InvenTrust Properties (NYSE:IVT) Given New $34.00 Price Target at Wells Fargo & Company

InvenTrust Properties (NYSE:IVT) had its price objective boosted by Wells Fargo & Company from $32.00 to $34.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

InvenTrust Properties Stock Performance

InvenTrust Properties stock opened at $29.69 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 5.26 and a quick ratio of 5.26. InvenTrust Properties has a 12 month low of $25.21 and a 12 month high of $31.65. The company has a fifty day moving average price of $27.69 and a two-hundred day moving average price of $28.16. The company has a market cap of $2.30 billion, a PE ratio of 20.62, a P/E/G ratio of 3.19 and a beta of 0.88.

InvenTrust Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.2377 per share. This represents a $0.95 annualized dividend and a yield of 3.2%. This is a positive change from InvenTrust Properties’s previous quarterly dividend of $0.24. The ex-dividend date was Monday, June 30th. InvenTrust Properties’s dividend payout ratio (DPR) is currently 65.97%.

Hedge Funds Weigh In On InvenTrust Properties

Several institutional investors have recently made changes to their positions in IVT. Loomis Sayles & Co. L P bought a new stake in shares of InvenTrust Properties in the 2nd quarter worth approximately $26,000. Avalon Trust Co acquired a new stake in InvenTrust Properties in the first quarter worth $36,000. Heritage Wealth Advisors acquired a new stake in InvenTrust Properties in the second quarter worth $34,000. EverSource Wealth Advisors LLC lifted its stake in InvenTrust Properties by 44.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $38,000 after buying an additional 418 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in shares of InvenTrust Properties during the fourth quarter valued at $42,000. 61.70% of the stock is owned by institutional investors.

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.