InvenTrust Properties initiated with a Hold at Jefferies

Jefferies analyst Linda Tsai initiated coverage of InvenTrust Properties (IVT) with a Hold rating and $33 price target The firm says a largely Sunbelt and grocer-anchored portfolio is helping InvenTrust grow earnings faster, with a growth rate similar to peers. However, with the stock trading near a 52-week high, its premium multiple reflects InvenTrust’s portfolio quality and strong balance sheet, the analyst tells investors in a research note. Jefferies says the company’s valuation “seems full.”