Cornercap Investment Counsel Inc. Makes New Investment in InvenTrust Properties Corp. (NYSE:IVT)

Cornercap Investment Counsel Inc. bought a new stake in InvenTrust Properties Corp. (NYSE:IVT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 9,946 shares of the company’s stock, valued at approximately $300,000.

Several other institutional investors also recently modified their holdings of IVT. Principal Financial Group Inc. raised its position in shares of InvenTrust Properties by 6.0% in the 4th quarter. Principal Financial Group Inc. now owns 4,362,639 shares of the company’s stock valued at $131,446,000 after acquiring an additional 245,343 shares during the period. Geode Capital Management LLC increased its position in shares of InvenTrust Properties by 5.4% during the third quarter. Geode Capital Management LLC now owns 1,816,716 shares of the company’s stock worth $51,550,000 after acquiring an additional 92,367 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of InvenTrust Properties by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,278,033 shares of the company’s stock worth $38,507,000 after acquiring an additional 98,366 shares during the period. JPMorgan Chase & Co. lifted its position in InvenTrust Properties by 23.3% in the 4th quarter. JPMorgan Chase & Co. now owns 681,622 shares of the company’s stock valued at $20,537,000 after acquiring an additional 128,848 shares in the last quarter. Finally, FMR LLC boosted its stake in InvenTrust Properties by 22,456.4% in the 3rd quarter. FMR LLC now owns 580,602 shares of the company’s stock worth $16,472,000 after purchasing an additional 578,028 shares during the period. Institutional investors and hedge funds own 61.70% of the company’s stock.

InvenTrust Properties Stock Performance

Shares of NYSE IVT opened at $29.22 on Friday. The stock has a market capitalization of $2.26 billion, a PE ratio of 162.31, a price-to-earnings-growth ratio of 3.34 and a beta of 0.96. InvenTrust Properties Corp. has a 52 week low of $23.53 and a 52 week high of $31.65. The stock has a 50 day moving average price of $29.53 and a 200 day moving average price of $29.75. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.99 and a current ratio of 1.99.

InvenTrust Properties (NYSE:IVT) last released 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 net margin of 4.99% and a return on equity of 0.83%. Analysts predict that InvenTrust Properties Corp. will post 1.79 earnings per share for the current fiscal year.

InvenTrust Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.2376 dividend. This is an increase from InvenTrust Properties’s previous quarterly dividend of $0.23. This represents a $0.95 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Monday, March 31st. InvenTrust Properties’s dividend payout ratio (DPR) is 527.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company cut their price target on InvenTrust Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday. Jefferies Financial Group raised InvenTrust Properties from a “hold” rating to a “buy” rating and upped their price target for the stock from $33.00 to $34.00 in a research report on Thursday, January 2nd. Finally, Wolfe Research assumed coverage on shares of InvenTrust Properties in a report on Thursday, March 20th. They issued a “peer perform” rating on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.00.

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.