Principal Financial Group Inc. Acquires 738,784 Shares of InvenTrust Properties Corp. (NYSE:IVT)

Principal Financial Group Inc. raised its holdings in InvenTrust Properties Corp. (NYSE:IVT) by 21.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,117,296 shares of the company’s stock after acquiring an additional 738,784 shares during the quarter. Principal Financial Group Inc. owned approximately 0.05% of InvenTrust Properties worth $116,808,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Executive Wealth Management LLC boosted its stake in shares of InvenTrust Properties by 4.3% during the second quarter. Executive Wealth Management LLC now owns 9,703 shares of the company’s stock valued at $240,000 after purchasing an additional 400 shares during the period. Arizona State Retirement System boosted its position in InvenTrust Properties by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 18,982 shares of the company’s stock valued at $470,000 after buying an additional 423 shares during the period. Van ECK Associates Corp grew its stake in InvenTrust Properties by 6.9% in the 2nd quarter. Van ECK Associates Corp now owns 10,426 shares of the company’s stock worth $258,000 after acquiring an additional 674 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of InvenTrust Properties by 34.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,634 shares of the company’s stock worth $75,000 after acquiring an additional 681 shares during the period. Finally, CWM LLC raised its stake in shares of InvenTrust Properties by 9.3% during the third quarter. CWM LLC now owns 9,022 shares of the company’s stock valued at $256,000 after acquiring an additional 766 shares in the last quarter. Hedge funds and other institutional investors own 61.70% of the company’s stock.

InvenTrust Properties Stock Up 0.8 %

Shares of NYSE IVT opened at $29.80 on Friday. InvenTrust Properties Corp. has a 12-month low of $23.53 and a 12-month high of $31.65. The stock’s fifty day simple moving average is $30.32 and its two-hundred day simple moving average is $28.30. The stock has a market capitalization of $2.30 billion, a PE ratio of 331.15, a price-to-earnings-growth ratio of 3.56 and a beta of 0.97. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.42.

InvenTrust Properties (NYSE:IVT) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.44). InvenTrust Properties had a return on equity of 0.42% and a net margin of 2.52%. The company had revenue of $68.52 million for the quarter. During the same period in the prior year, the business earned $0.41 EPS. As a group, analysts expect that InvenTrust Properties Corp. will post 1.73 EPS for the current fiscal year.

InvenTrust Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be given a $0.2263 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.91 dividend on an annualized basis and a dividend yield of 3.04%. This is an increase from InvenTrust Properties’s previous quarterly dividend of $0.23. InvenTrust Properties’s payout ratio is presently 1,000.00%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IVT. Jefferies Financial Group assumed coverage on InvenTrust Properties in a research note on Tuesday, November 19th. They issued a “hold” rating and a $33.00 price objective on the stock. Wells Fargo & Company increased their price target on InvenTrust Properties from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Bank of America upgraded InvenTrust Properties from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $33.00 in a report on Thursday, October 3rd. Finally, Compass Point increased their target price on shares of InvenTrust Properties from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th.

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.