InvenTrust Properties (IVT)
NYSE:IVT
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InvenTrust Properties
(NYSE:IVT)
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Rating:75Outperform
Price Target:
$36.00
▲(10.36% Upside)
Action:ReiteratedDate:04/17/26
The score is driven primarily by solid financial performance (strong 2025 rebound and positive free cash flow) and a constructive earnings outlook with positive 2026 guidance and strong leasing/occupancy. Technicals add support via a clear uptrend and positive momentum. Valuation is a moderating factor due to a mid-range P/E and a relatively modest dividend yield for a REIT.
Positive Factors
Leasing Strength and Occupancy
Durable leasing outperformance — strong new-lease spreads and high occupancy reflect tenant demand for grocery-anchored centers. High occupancy and positive renewal spreads support steady rental cash flow, reduce vacancy risk during cycles, and underpin long-term NOI resilience.
Negative Factors
Higher Leverage Trend
A rise in leverage reduces balance-sheet cushion and makes the REIT more sensitive to operating or financing shocks. Historically uneven ROE combined with higher debt can constrain capital allocation flexibility and increase vulnerability if NOI growth slows or cap markets tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Leasing Strength and Occupancy
Durable leasing outperformance — strong new-lease spreads and high occupancy reflect tenant demand for grocery-anchored centers. High occupancy and positive renewal spreads support steady rental cash flow, reduce vacancy risk during cycles, and underpin long-term NOI resilience.
Read all positive factors
InvenTrust Properties (IVT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.47B
Dividend Yield3.26%
Average Volume (3M)540.77K
Price to Earnings (P/E)19.6
Beta (1Y)0.39
Revenue Growth9.40%
EPS Growth1433.20%
CountryUS
Employees101
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)0.03
Shares Outstanding77,699,240
10 Day Avg. Volume614,961
30 Day Avg. Volume540,773
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)1.22
Price to Sales (P/S)7.32
P/FCF Ratio19.74
Enterprise Value/Market Cap1.34
Enterprise Value/Revenue11.11
Enterprise Value/Gross Profit22.81
Enterprise Value/Ebitda10.79
Forecast
1Y Price Target
$33.40Price Target Upside2.39% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.19
Revenue Forecast (FY)$327.50M
InvenTrust Properties Business Overview & Revenue Model
Company Description
InvenTrust Properties Corp. is a premier multi-tenant retail REIT that owns, leases, redevelops, acquires and manages grocery-anchored neighborhood centers, and select power centers that often have a grocery component, predominantly in Sun Belt ma...
How the Company Makes Money
IVT makes money primarily by acquiring and owning income-producing retail real estate and generating recurring cash flows from leasing that space to tenants.
Key revenue streams:
1) Base rental income (primary): IVT earns contractual minimum rent...
InvenTrust Properties Key Performance Indicators (KPIs)
InvenTrust Properties Earnings Call Summary
Earnings Call Date:Feb 10, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 28, 2026
Earnings Call Sentiment Positive
The call conveyed a largely positive operating and financial story: strong same-property NOI growth (5.3%), solid FFO and core FFO gains (NAREIT FFO +6.2% YoY), robust leasing metrics (30.9% new lease spreads, small shop occupancy 94%), disciplined acquisitions (> $460M in 2025 and ~$300M net targeted for 2026 with ~50% visibility), strong liquidity ($480M) and a modest dividend increase. Headwinds include modest credit loss normalization (guidance 30–70 bps), an interest rate swap reset increasing cost of debt (modest FFO headwind), competitive acquisition markets, higher share count dilution, and a delayed California disposition and a planned anchor departure tied to redevelopment. Overall, the positives in operating performance, balance sheet strength, and measured growth plans noticeably outweigh the listed challenges.Positive Updates
Same Property NOI Growth
Full-year same property NOI grew 5.3% (second straight year >5%, fifth consecutive year >4%); Q4 same property NOI was $44.3M, up 3.0% year over year.
Negative Updates
Credit Loss / Bad Debt Headwinds
Bad debt reserves were a ~20 bps headwind to same property NOI in 2025; guidance for 2026 incorporates a bad debt reserve of ~30–70 bps, reflecting some expected normalization of credit loss.
Read all updates
Q4-2025 Updates
Positive
Negative
Same Property NOI Growth
Full-year same property NOI grew 5.3% (second straight year >5%, fifth consecutive year >4%); Q4 same property NOI was $44.3M, up 3.0% year over year.
Read all positive updates
Company Guidance
Management guided 2026 to full-year same-property NOI growth of 3.25%–4.25% (which assumes a bad‑debt reserve of ~30–70 bps), NAREIT FFO of $1.97–$2.03/sh (midpoint ≈ +5.8% YoY) and core FFO of $1.91–$1.95/sh (midpoint ≈ +5.5% YoY), with roughly $300M of net investment activity planned; they end 2025 with $480M liquidity ($35M cash, $445M revolver), a ~4% weighted average interest rate, net leverage of 26.3% and trailing net debt/adjusted EBITDA of 4.5x (management targets ~5.0x forward and would not exceed ~5.5x), note a $200M term‑loan swap reset from ~2.7% to 4.5% will create a modest ~1–1.5¢ FFO headwind, the board approved a 5% dividend increase to $1.00 annualized, and internal redevelopment is expected to add ~50–100 bps of incremental NOI annually.InvenTrust Properties Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
67
Positive
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 299.17M | 273.97M | 258.68M | 236.71M | 211.98M |
| Gross Profit | -42.17M | 194.12M | 181.03M | 163.54M | 147.88M |
| EBITDA | 274.44M | 164.71M | 156.84M | 130.20M | 98.04M |
| Net Income | 111.42M | 13.66M | 5.27M | 52.23M | -5.36M |
Balance Sheet | |||||
| Total Assets | 2.79B | 2.64B | 2.49B | 2.47B | 2.21B |
| Cash, Cash Equivalents and Short-Term Investments | 40.52M | 91.22M | 96.39M | 137.62M | 36.99M |
| Total Debt | 825.88M | 740.41M | 814.57M | 754.55M | 533.08M |
| Total Liabilities | 994.38M | 875.95M | 933.29M | 869.13M | 640.86M |
| Stockholders Equity | 1.79B | 1.76B | 1.55B | 1.60B | 1.57B |
Cash Flow | |||||
| Free Cash Flow | 110.89M | 100.76M | 93.88M | 102.07M | 70.54M |
| Operating Cash Flow | 155.42M | 136.88M | 129.62M | 125.80M | 89.96M |
| Investing Cash Flow | -144.91M | -240.53M | -79.72M | -144.46M | -64.70M |
| Financing Cash Flow | -61.21M | 95.12M | -87.90M | 111.57M | -204.17M |
InvenTrust Properties Technical Analysis
Positive
32.62
Price Trends
30.85
Positive
29.61
Positive
28.59
Positive
Market Momentum
0.45
Negative
71.87
Negative
84.61
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IVT, the sentiment is Positive. The current price of 32.62 is above the 20-day moving average (MA) of 31.09, above the 50-day MA of 30.85, and above the 200-day MA of 28.59, indicating a bullish trend. The MACD of 0.45 indicates Negative momentum. The RSI at 71.87 is Negative, neither overbought nor oversold. The STOCH value of 84.61 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IVT.
InvenTrust Properties Risk Analysis
InvenTrust Properties disclosed 82 risk factors in its most recent earnings report. InvenTrust Properties reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
InvenTrust Properties Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $2.47B | 19.65 | 6.65% | 3.26% | 9.40% | 1433.20% | |
74 Outperform | $2.03B | 19.46 | 7.86% | 6.77% | 8.17% | 9.96% | |
72 Outperform | $2.75B | 21.07 | 7.40% | 6.10% | 8.28% | 1.49% | |
70 Outperform | $2.87B | 61.18 | 2.07% | 3.13% | ― | ― | |
69 Neutral | $2.22B | 211.40 | 0.51% | 4.61% | 19.92% | ― | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | $2.82B | 198.19 | 0.75% | 3.83% | 8.85% | 27.38% |
* Real Estate Sector Average
IVT
InvenTrust Properties
32.62
6.56
25.16%
GTY
Getty Realty
34.61
7.97
29.93%
AKR
Acadia Realty
21.73
3.05
16.35%
FCPT
Four Corners Property
25.65
-1.06
-3.96%
NTST
NETSTREIT
20.84
5.31
34.18%
CURB
Curbline Properties Corp.
28.23
6.16
27.88%
InvenTrust Properties Corporate Events
Business Operations and StrategyPrivate Placements and Financing
InvenTrust Properties Privately Places $250 Million Senior Notes
Positive
Apr 17, 2026
On April 16, 2026, InvenTrust Properties Corp. signed a definitive note purchase agreement to privately place $250 million of senior unsecured notes, split among 5.09% Series A notes due June 29, 2029, 5.32% Series B notes due June 29, 2031 and 5....
Business Operations and StrategyRegulatory Filings and Compliance
InvenTrust Posts New Investor Presentation With Legal Disclaimers
Neutral
Feb 26, 2026
On February 25, 2026, InvenTrust Properties Corp. posted a new investor presentation on its website, positioning the materials as supplemental to its ongoing Securities and Exchange Commission filings and other public announcements. The company em...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.