Jefferies Financial Group Upgrades InvenTrust Properties (NYSE:IVT) to “Buy”

InvenTrust Properties (NYSE:IVT) was upgraded by equities researchers at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report released on Thursday, Marketbeat Ratings reports. The brokerage currently has a $34.00 price objective on the stock, up from their previous price objective of $33.00. Jefferies Financial Group’s price objective points to a potential upside of 13.03% from the stock’s current price.

A number of other brokerages have also recently commented on IVT. Bank of America raised InvenTrust Properties from a “neutral” rating to a “buy” rating and raised their target price for the stock from $30.00 to $33.00 in a report on Thursday, October 3rd. Compass Point raised their price objective on InvenTrust Properties from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th.

InvenTrust Properties Trading Up 1.0 %

NYSE:IVT opened at $30.08 on Thursday. The company has a 50 day simple moving average of $30.42 and a two-hundred day simple moving average of $28.67. The company has a market cap of $2.32 billion, a PE ratio of 334.26, a price-to-earnings-growth ratio of 3.57 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 has a 12 month low of $23.53 and a 12 month high of $31.65.

InvenTrust Properties (NYSE:IVT) last posted its earnings results 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 net margin of 2.52% and a return on equity of 0.42%. The firm had revenue of $68.52 million during the quarter. During the same quarter last year, the company posted $0.41 earnings per share. Research analysts forecast that InvenTrust Properties will post 1.73 earnings per share for the current year.

Institutional Trading of InvenTrust Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farmers & Merchants Investments Inc. purchased a new stake in InvenTrust Properties during the 3rd quarter valued at approximately $27,000. Creekmur Asset Management LLC grew its stake in InvenTrust Properties by 96.7% during the third quarter. Creekmur Asset Management LLC now owns 1,617 shares of the company’s stock valued at $46,000 after acquiring an additional 795 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 valued at $75,000 after acquiring an additional 681 shares in the last quarter. Vestcor Inc bought a new stake in InvenTrust Properties in the 3rd quarter valued at $104,000. Finally, US Bancorp DE lifted its stake in InvenTrust Properties by 39.8% in the 3rd quarter. US Bancorp DE now owns 3,810 shares of the company’s stock worth $108,000 after purchasing an additional 1,085 shares in the last quarter. Institutional investors own 61.70% of the company’s stock.

InvenTrust Properties Company 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.