Inventrust Properties Corp ( (IVT) ) has realeased its Q3 earnings. Here is a breakdown of the information Inventrust Properties Corp presented to its investors.
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InvenTrust Properties Corp. is a real estate investment trust (REIT) specializing in owning, leasing, redeveloping, acquiring, and managing grocery-anchored retail centers in Sun Belt markets, with a focus on sustainability and governance practices.
InvenTrust Properties Corp. reported its financial results for the third quarter of 2024, showing a slight improvement in its net loss compared to the previous year. The company also highlighted its strong leasing activity and strategic acquisitions that support its long-term growth objectives.
Key financial metrics for the quarter included a NAREIT FFO of $0.45 per diluted share, up from $0.41 per share in the previous year, and a Core FFO of $0.44 per share compared to $0.41. The company’s leased occupancy rate remained robust at 97.0%, and it executed 59 leases totaling approximately 469,000 square feet. Additionally, InvenTrust acquired the Scottsdale North Marketplace for $23 million and issued 9.2 million shares of common stock, raising $247.3 million.
InvenTrust’s portfolio performance was further supported by a 6.5% growth in same-property net operating income. The company also expanded its credit facility, enhancing its financial flexibility. With no debt maturing in 2024, InvenTrust is well-positioned to continue pursuing growth opportunities.
Looking ahead, InvenTrust has raised its full-year NAREIT and Core FFO guidance, reflecting confidence in its portfolio’s performance and strategic initiatives. The company’s management remains optimistic about its ability to drive cash flow growth and shareholder value through disciplined investment and operational excellence.
