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

Principal Financial Group Inc. increased its holdings in InvenTrust Properties Corp. (NYSE:IVT) by 21.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,117,296 shares of the company’s stock after purchasing an additional 738,784 shares during the period. Principal Financial Group Inc. owned 5.34% of InvenTrust Properties worth $116,808,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IVT. Thrivent Financial for Lutherans purchased a new position in shares of InvenTrust Properties in the third quarter worth $1,980,000. International Assets Investment Management LLC increased its holdings in InvenTrust Properties by 1,823.0% in the 3rd quarter. International Assets Investment Management LLC now owns 261,657 shares of the company’s stock valued at $7,423,000 after acquiring an additional 248,050 shares during the last quarter. Vanderbilt University purchased a new stake in InvenTrust Properties in the 3rd quarter worth $742,000. FMR LLC boosted its holdings in shares of InvenTrust Properties by 22,456.4% during the 3rd quarter. FMR LLC now owns 580,602 shares of the company’s stock valued at $16,472,000 after purchasing an additional 578,028 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of 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 purchasing an additional 175,838 shares in the last quarter. 61.70% of the stock is currently owned by institutional investors.

InvenTrust Properties Trading Up 0.8 %

Shares of IVT stock opened at $29.80 on Friday. The company has a market cap 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. InvenTrust Properties Corp. has a 1 year low of $23.53 and a 1 year high of $31.65. The stock’s 50 day simple moving average is $30.32 and its two-hundred day simple moving average is $28.30. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.59 and a quick ratio of 3.59.

InvenTrust Properties (NYSE:IVT) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.44). The company had revenue of $68.52 million for the quarter. InvenTrust Properties had a net margin of 2.52% and a return on equity of 0.42%. During the same quarter in the previous year, the firm earned $0.41 EPS. Research analysts predict that InvenTrust Properties Corp. will post 1.73 earnings per share for the current year.

InvenTrust Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be issued a $0.2263 dividend. This represents a $0.91 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Monday, December 30th. This is a positive change from InvenTrust Properties’s previous quarterly dividend of $0.23. InvenTrust Properties’s dividend payout ratio (DPR) is 1,000.00%.

Analyst Ratings Changes

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

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.