InvenTrust Properties Corp. (NYSE:IVT), a leading Sun Belt retail REIT, has recently announced the acquisition of a new stake by Harbor Capital Advisors Inc., according to the company’s latest 13F filing with the Securities & Exchange Commission. Harbor Capital Advisors Inc. purchased 40,559 shares of InvenTrust Properties stock in the second quarter for approximately $939,000.
InvenTrust Properties Corp. focuses on owning, leasing, redeveloping, acquiring, and managing neighborhood and community centers along with power centers that typically include grocery stores. As a premier multi-tenant essential retail REIT operating in the Sun Belt region, InvenTrust aims to provide superior services to both tenants and investors alike.
Additionally, InvenTrust recently declared a quarterly dividend which is scheduled to be paid on October 13th. Shareholders of record as of September 30th will receive a dividend of $0.215 per share. This equates to an annualized dividend of $0.86 per share and a dividend yield of 3.52%. The ex-dividend date for this payment is September 28th.
In summary, Harbor Capital Advisors Inc.’s acquisition of InvenTrust Properties shares highlights its interest in investing in the thriving retail real estate market managed by InvenTrust. With its solid portfolio consisting of grocery-anchored neighborhood and community centers as well as high-quality power centers, InvenTrust continues to demonstrate its commitment to delivering value for its shareholders through dividends and strategic investments.
Western Alliance Bancorporation
WAL
Strong Buy
Updated on: 01/10/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Institutional Investors Show Confidence in InvenTrust Properties (IVT) as Analysts Upgrade Rating
Institutional investors have recently made moves in the shares of InvenTrust Properties (IVT), as reported on September 19, 2023. Ahrens Investment Partners LLC acquired a new position in the company’s shares during the first quarter with a value of about $27,000. Similarly, Coppell Advisory Solutions Corp. also acquired a new position during the fourth quarter worth approximately $29,000. EverSource Wealth Advisors LLC showed even more confidence in InvenTrust Properties, boosting their holdings by 149.7% in the first quarter. The firm now owns 1,668 shares valued at $39,000 after purchasing an additional 1,000 shares. Almanack Investment Partners LLC joined the list of institutional investors by acquiring a new position in InvenTrust Properties during the third quarter valued at around $43,000. Lastly, US Bancorp DE acquired a new position in the stock during the first quarter at approximately $48,000. Overall, institutional investors and hedge funds currently hold 57.70% of IVT’s stock.
On Tuesday, IVT stock opened at $24.46. The company’s fifty-day simple moving average stands at $24.06 with its 200-day simple moving average at $23.09. InvenTrust Properties has a quick ratio and current ratio of 2.10 each while maintaining a debt-to-equity ratio of 0.53. The market capitalization sits comfortably at $1.65 billion for this premier Sun Belt multi-tenant essential retail REIT (real estate investment trust). With a price-to-earnings ratio (PE) of 407.73 and a price/earnings to growth ratio (PEG) of 4.63, IVT shows indications of both complexity and growth potential within its industry sector of grocery-anchored neighborhood and community centers.
Analysts have chimed in on IVT’s recent performance. TheStreet upgraded InvenTrust Properties from a “d+” rating to a “c-” rating in their report released on August 9th, 2023. This improvement in sentiment could indicate positive developments within the company. Additionally, Compass Point raised its price target on IVT shares from $23.00 to $25.00, further demonstrating confidence in the potential of InvenTrust Properties. Wells Fargo & Company also joined the conversation by initiating coverage on IVT and assigning it an “overweight” rating alongside a $25.00 price objective.
Given the recent activity with institutional investors and analysts’ positive outlook, it is crucial for investors to stay informed about the latest stock reports related to IVT. As market conditions can change rapidly, continuously monitoring IVT’s progress can provide valuable insights for potential investors or those considering adjustments to their portfolios.
Disclaimer: The content of this article should not be construed as financial advice or recommendations. It is always advisable to consult with a qualified financial advisor before making any investment decisions based on information provided in this article or elsewhere.
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