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InvenTrust Properties Corp. (IVT) is a leading real estate investment trust (REIT) headquartered in the United States. Specializing in the ownership, management, and leasing of multi-tenant outdoor shopping centers, InvenTrust has carved out a significant niche in high-growth markets. The company operates with the guiding principle of creating symbiotic success for both retail partners and consumers, ensuring dynamic shopping center operations and enjoyable shopping experiences for all.
Leveraging extensive retail experience, InvenTrust has deep insights into the markets it serves. Its strategic offices are located across major U.S. cities including Dallas, Houston, Austin, Denver, Atlanta, Orlando, Raleigh, and Southern California. These locations were chosen for their high job growth, wage increases, economic development, and substantial traffic patterns, ensuring continued success and expansion in areas with strong demographics.
In recent years, InvenTrust has undergone significant transformations to focus more on its core retail operations. This included the spin-off of non-core assets into a separate REIT and the sale of its student housing platform. Such strategic decisions have streamlined the company’s focus on building a premium retail portfolio, which includes grocery-anchored community and neighborhood centers, as well as power centers classified as necessity-based.
InvenTrust's retail properties are designed to meet the evolving needs of modern consumers. The company’s collaborative approach with retail partners ensures that the shopping centers remain vibrant and relevant. By continuously redeveloping and acquiring high-quality assets, InvenTrust maintains a robust and diverse portfolio that contributes to its strong financial health and growth potential.
InvenTrust Properties (NYSE: IVT) has appointed Julie M. Swinehart to its Board of Directors as an independent director and member of both the Audit and Compensation Committees. Swinehart currently serves as Executive Vice President and Chief Financial Officer of Fenway Sports Group, and previously held the position of Executive Vice President, CFO & Treasurer at Retail Properties of America (RPAI).
With extensive financial expertise and leadership experience in real estate, Swinehart's background includes roles as Chief Accounting Officer at RPAI, Manager of External Reporting at Equity Office Properties Trust, and eight years in public accounting at Arthur Andersen LLP and Deloitte & Touche LLP. She holds a B.S. in accountancy from the University of Illinois and is a Certified Public Accountant.
InvenTrust Properties (NYSE: IVT) reported strong financial results for Q4 and full year 2024. Net Income reached $9.8 million ($0.13 per share) in Q4 2024, up from $2.9 million in Q4 2023. Full-year Net Income was $13.7 million ($0.19 per share), compared to $5.3 million in 2023.
Key highlights include: Nareit FFO of $0.45 per share in Q4 and $1.78 for the full year; Core FFO of $0.43 per share in Q4 and $1.73 for the full year; Same Property NOI growth of 7.1% in Q4 and 5.0% for the full year; record-high Leased Occupancy of 97.4%. The company acquired four properties totaling 614,000 square feet in Q4 and announced a 5% dividend increase starting April 2025.
For 2025, InvenTrust provided initial guidance projecting Net Income per share of $0.27-$0.33, Nareit FFO per share of $1.83-$1.89, and Same Property NOI growth of 3.50%-4.50%. The company maintains strong liquidity with $587.4 million available, including $87.4 million in cash.
InvenTrust Properties (NYSE: IVT) has released its tax reporting information for 2024 distributions on its common stock. The company detailed four quarterly distributions totaling $0.894400 per share for 2024, with the following breakdown:
- Q1 (January): $0.215500 (partially allocated to 2024)
- Q2 (April): $0.226300
- Q3 (July): $0.226300
- Q4 (October): $0.226300
Of the total distributions, $0.756215 per share is classified as ordinary dividends, $0.035185 as return of capital, and $0.756215 qualifies as Section 199A dividends. For the December 2023 distribution, $0.103000 was reported in 2023, while $0.112500 is allocated to 2024.
InvenTrust Properties Corp. (NYSE: IVT) has scheduled its fourth quarter and full year 2024 earnings announcement for February 11, 2025, after market close. The company will host an earnings conference call on February 12, 2025, at 10:00 a.m. ET to discuss results and business highlights.
The earnings release and supplemental information will be available on the company's investor relations website. Investors can participate in the conference call using dial-in number 833-470-1428 with access code 625026, or join via webcast.
InvenTrust Properties Corp. (NYSE: IVT) has announced a quarterly cash dividend of $0.2263 per share for the fourth quarter of 2024. This represents a 5% increase compared to the previous year. When annualized, the dividend amounts to $0.9052 per share. The dividend will be paid around January 15, 2025, to shareholders of record as of December 30, 2024.
InvenTrust Properties reported its Q3 2024 financial results with a net loss of $0.5 million ($0.01 per share). Key highlights include Nareit FFO of $0.45 and Core FFO of $0.44 per diluted share, with Same Property NOI growth of 6.5%. The company achieved 97.0% leased occupancy and executed 59 leases totaling 469,000 square feet with a 9.8% blended lease spread. Notable activities include acquiring Scottsdale North Marketplace for $23 million and raising $247.3 million through equity issuance. The company updated its 2024 guidance, projecting Net Income of $0.09-$0.12 per share and Nareit FFO of $1.74-$1.77 per share.
InvenTrust Properties Corp. (NYSE: IVT) has announced the recast and upsizing of its Unsecured Revolving credit facility from $350 million to $500 million. The maturity date extends to January 2029 with a 6-month extension option. Combined with the unchanged $400 million term loan, the total facility now amounts to $900 million. The facility will be used for general corporate purposes, including acquisitions and working capital. Interest accrues at 105 basis points plus Adjusted Term SOFR, varying with InvenTrust's corporate leverage levels. KeyBanc Capital Markets and Wells Fargo Securities led the arrangement, with KeyBanc National Association serving as Administrative Agent.
InvenTrust Properties Corp. (NYSE: IVT) has announced its schedule for reporting third quarter 2024 earnings. The company will release its financial results on October 29, 2024, after the market closes. Following this, InvenTrust will host an earnings conference call on October 30, 2024, at 10:00 a.m. ET to discuss the results and business highlights.
Investors and interested parties can access the earnings release and supplemental information on the company's website in the Investor Relations section. To participate in the conference call, attendees can use the dial-in number 833-470-1428 with access code 861040. A webcast of the call will also be available, with an archive accessible on the company's website for future reference.
InvenTrust Properties Corp. (NYSE: IVT) has priced an underwritten registered public offering of 8,000,000 shares of its common stock at $28.00 per share, totaling $224.0 million in gross proceeds. The company has granted underwriters a 30-day option to purchase up to an additional 1,200,000 shares. The offering is expected to close on September 25, 2024.
J.P. Morgan, BofA Securities, and Wells Fargo Securities are acting as joint-book-running managers, with Jefferies and KeyBanc Capital Markets as additional bookrunners. BTIG and Fifth Third Securities are co-managers for the public offering.
InvenTrust plans to use the net proceeds for general corporate purposes, including property acquisitions, debt repayment, and working capital. The offering is made pursuant to an effective shelf registration statement filed with the SEC.
InvenTrust Properties Corp. (NYSE: IVT) has announced a public offering of 6,500,000 shares of its common stock, with an option for underwriters to purchase an additional 975,000 shares. The offering, subject to market conditions, will be managed by J.P. Morgan, BofA Securities, and Wells Fargo Securities as joint book-running managers.
The company plans to use the net proceeds for general corporate purposes, including funding property acquisitions, repaying short-term and long-term debt (including a $72.5 million loan with Bank of America), and providing working capital. The offering is being made through an effective shelf registration statement filed with the SEC.
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