InvenTrust Properties (NYSE:IVT) Rating Increased to Buy at Bank of America

InvenTrust Properties (NYSE:IVT) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Thursday, MarketBeat.com reports. The brokerage presently has a $33.00 price objective on the stock, up from their previous price objective of $30.00. Bank of America‘s target price would suggest a potential upside of 15.71% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of InvenTrust Properties from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Compass Point boosted their price target on InvenTrust Properties from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th.

InvenTrust Properties Stock Down 1.3 %

IVT stock opened at $28.52 on Thursday. The stock has a market capitalization of $1.94 billion, a PE ratio of 285.20, a price-to-earnings-growth ratio of 4.83 and a beta of 0.99. InvenTrust Properties has a 52 week low of $22.61 and a 52 week high of $30.33. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $28.56 and a 200 day moving average of $26.19.

Hedge Funds Weigh In On InvenTrust Properties

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in InvenTrust Properties by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,588,192 shares of the company’s stock worth $246,512,000 after acquiring an additional 91,579 shares during the period. Principal Financial Group Inc. grew its stake in shares of InvenTrust Properties by 26.4% during the 2nd quarter. Principal Financial Group Inc. now owns 3,378,512 shares of the company’s stock worth $83,652,000 after purchasing an additional 706,437 shares during the period. Millennium Management LLC increased its holdings in shares of InvenTrust Properties by 13.9% during the 2nd quarter. Millennium Management LLC now owns 998,877 shares of the company’s stock valued at $24,732,000 after purchasing an additional 122,248 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of InvenTrust Properties by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 812,825 shares of the company’s stock valued at $20,125,000 after purchasing an additional 35,051 shares during the period. Finally, Makena Capital Management LLC boosted its holdings in InvenTrust Properties by 28.6% during the second quarter. Makena Capital Management LLC now owns 343,038 shares of the company’s stock worth $8,494,000 after buying an additional 76,316 shares in the last quarter. Hedge funds and other institutional investors own 61.70% of the company’s stock.

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.