Thrivent Financial for Lutherans Has $7.15 Million Position in InvenTrust Properties Corp. (NYSE:IVT)

Thrivent Financial for Lutherans lifted its stake in InvenTrust Properties Corp. (NYSE:IVT) by 240.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 237,311 shares of the company’s stock after acquiring an additional 167,527 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.31% of InvenTrust Properties worth $7,150,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of IVT. Jennison Associates LLC acquired a new position in InvenTrust Properties in the 3rd quarter worth about $664,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in InvenTrust Properties in the third quarter worth approximately $217,000. Intech Investment Management LLC acquired a new position in InvenTrust Properties in the third quarter worth approximately $584,000. Charles Schwab Investment Management Inc. raised its position in InvenTrust Properties by 17.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,179,667 shares of the company’s stock valued at $33,467,000 after acquiring an additional 175,838 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in InvenTrust Properties by 85.9% in the third quarter. Eagle Asset Management Inc. now owns 216,832 shares of the company’s stock valued at $6,709,000 after acquiring an additional 100,168 shares during the last quarter. 61.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IVT has been the topic of several analyst reports. Jefferies Financial Group upgraded shares of InvenTrust Properties from a “hold” rating to a “buy” rating and increased their price target for the stock from $33.00 to $34.00 in a research note on Thursday, January 2nd. Wolfe Research initiated coverage on InvenTrust Properties in a report on Thursday. They set a “peer perform” rating on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

InvenTrust Properties Trading Down 1.3 %

Shares of IVT stock opened at $28.59 on Monday. InvenTrust Properties Corp. has a 12 month low of $23.53 and a 12 month high of $31.65. The company has a market cap of $2.21 billion, a PE ratio of 158.81, a price-to-earnings-growth ratio of 3.34 and a beta of 0.96. 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 business’s 50 day moving average is $29.50 and its two-hundred day moving average is $29.75.

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

InvenTrust Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.2376 per share. This represents a $0.95 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Monday, March 31st. This is a boost from InvenTrust Properties’s previous quarterly dividend of $0.23. InvenTrust Properties’s payout ratio is currently 527.78%.

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.