UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to COMMISSION FILE NUMBER: 001-40896 INVENTRUST PROPERTIES CORP. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organ ...

For the fourth quarter, Phillips said same-property NOI was $44.3 million , up 3% year-over-year. He reported fourth-quarter Nareit FFO of $36.8 million , or $0.47 per diluted share, and fourth-quarter core FFO of $0.46 per diluted share.Chief Financial Officer Mike Phillips provided additional detail on the drivers of same-property NOI growth for the full year. He said embedded rent escalations contributed about 160 basis points , occupancy gains added about 80 basis points , and positive leasing spreads c ...

Financial Data and Key Metrics Changes - InvenTrust reported Same Property NOI growth of 5.3% for 2025, marking the second consecutive year above 5% and the fifth consecutive year of growth exceeding 4% [4][10] - Core FFO finished at $1.89 per share, representing a 6.2% year-over-year growth [4][11] - Total liquidity at year-end was $480 million, with a net debt to adjusted EBITDA ratio of 4.5 times, which is a sector-low [11][12] Business Line Data and Key Metrics Changes - Same Property NOI for the fourth quarter was $44.3 million, up 3% year-over-year [10] - Nareit FFO for the full year totaled $147.8 million, or $1.89 per diluted share, reflecting a 6.2% increase over 2024 [10][11] - The company completed two acquisitions in the fourth quarter totaling $109 million, funded through available liquidity and property-level debt [12] Market Data and Key Metrics Changes - Top-performing retail markets in 2025 included Charlotte, Tampa, Orlando, and Dallas, with Charlotte showing robust population growth and job creation [8] - Retail sales increased, and announced store openings exceeded closures, indicating sustained confidence in physical retail [15] Company Strategy and Development Direction - The company aims to expand its portfolio in Sun Belt markets, focusing on grocery-anchored assets and maintaining a disciplined acquisition approach [6][8] - Redevelopment initiatives are expected to contribute approximately 50-100 basis points of incremental NOI growth annually over the next couple of years [7] - The company plans to grow its business thoughtfully while enhancing operational footprint and value creation through leasing and asset management [6][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the retail landscape's resilience, despite increased store closures, due to low new retail construction and improved retailer decision-making [7][8] - For 2026, the company expects core FFO per share growth in the mid-single-digit range and net investment activity of approximately $300 million [8][12] Other Important Information - The board approved a 5% increase in the annual cash dividend for 2026, raising the rate to $1 per share [12] - The company is focused on maintaining a strong balance sheet while being opportunistic in funding acquisitions [25][26] Q&A Session Summary Question: Funding sources for $300 million net acquisition activity - Management indicated they have ample room on the balance sheet and plan to use their line of credit and possibly issue private placement debt [21][24] Question: Impact of Amazon Go and Fresh store closures on Whole Foods - Management stated that Whole Foods locations in their portfolio are performing well and are not at risk from Amazon's store closures [28][29] Question: Expectations for CapEx requirements in 2026 - Management expects renewals to be a larger part of the business, leading to lower CapEx requirements [31][32] Question: Acquisition pipeline and pricing - Nearly half of the $300 million acquisition guidance is either under contract or awarded, with a competitive market for assets [35][36] Question: Disposition strategy for 2026 - Management indicated that dispositions will be a source of capital once acquisition opportunities are identified, with one asset in California expected to close in 2026 [38][39] Question: Revenue impact from signed-not-open pipeline - Management expects most of the signed-not-open revenue to come online this year, with minimal impact from weather events [41] Question: Competitive market dynamics - Management noted that competition remains strong, but they have had success in finding opportunities that fit their criteria [54][55]

Financial Data and Key Metrics Changes - InvenTrust reported Same Property NOI growth of 5.3% for 2025, marking the second consecutive year above 5% and the fifth consecutive year of growth exceeding 4% [4] - Core FFO finished at $1.89 per share, representing a 6.2% year-over-year growth [4][10] - Nareit FFO totaled $147.8 million or $1.89 per diluted share, reflecting a 6.2% increase over 2024 [10] - Total liquidity at year-end stood at $480 million, including $35 million in cash and $445 million available under the revolving credit facility [11] Business Line Data and Key Metrics Changes - Same Property NOI for the fourth quarter was $44.3 million, up 3% year-over-year [10] - Occupancy gains contributed approximately 80 basis points to Same Property NOI growth, while positive leasing spreads added roughly 90 basis points [10] - Redevelopment activity provided an additional 70 basis points of growth, with percentage and ancillary rents contributing around 20 basis points [10] Market Data and Key Metrics Changes - Top-performing retail markets in 2025 included Charlotte, Tampa, Orlando, and Dallas, with Charlotte ranking first for retail rent increases [8] - Retail sales are up, and announced store openings continue to exceed closures, indicating sustained confidence in physical retail [15] Company Strategy and Development Direction - The company aims to expand its portfolio in Sun Belt markets, focusing on grocery-anchored assets and areas with long-term population growth [6][8] - InvenTrust completed the sale of five California assets and redeployed that capital into higher growth markets [4] - The company plans to invest approximately $300 million in net investment activity for 2026, with a focus on maintaining a disciplined acquisition approach [12][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the retail landscape's resilience, despite increased store closures and low new retail construction [7] - The outlook for 2026 includes core FFO per share growth expected in the mid-single-digit range and Same Property NOI growth projected between 3.25% and 4.25% [12][8] - Management noted that the quality of the merchandise mix and improved credit quality have contributed to reduced credit loss expectations [56] Other Important Information - The board approved a 5% increase in the annual cash dividend for 2026, raising the annualized rate to $1 per share [12] - The company expects redevelopment initiatives to contribute approximately 50-100 basis points of incremental NOI growth annually over the next couple of years [7] Q&A Session Summary Question: Funding sources for $300 million net acquisition activity - Management confirmed ample balance sheet capacity to fund acquisitions, with plans to use the line of credit and potentially issue private placement debt [21][25] Question: Impact of Amazon Go and Fresh store closures - Management indicated that Whole Foods locations in their portfolio are performing well and are not at risk from Amazon's store closures [28] Question: Acquisition pipeline and pricing - Nearly half of the $300 million acquisition guidance is either under contract or awarded, with a competitive market for assets [35][36] Question: Same-store revenue impact from signed-not-open pipeline - Approximately 2% of ABR is from signed-not-open leases, with expectations for most to come online this year [41] Question: Competitive market pricing - Management noted that pricing remains consistent, with strong competition across various asset types [53]

Inventrust Properties (NYSE:IVT) Q4 2025 Earnings call February 11, 2026 10:00 AM ET Speaker10Thank you for standing by, and welcome to InvenTrust's fourth quarter and full year 2025 earnings conference call. My name is Becky, and I will be your conference call operator today. Before we begin, I would like to remind our listeners that today's presentation is being recorded, and a replay will be available on the investors section of the company's website at inventrustproperties.com. All lines will be muted t ...

分组1 - InvenTrust Properties Corp. reported quarterly funds from operations (FFO) of $0.46 per share, exceeding the Zacks Consensus Estimate of $0.45 per share, and up from $0.43 per share a year ago, representing an FFO surprise of +3.37% [1] - The company achieved revenues of $77.38 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 3.09%, compared to $71.23 million in the same quarter last year [2] - InvenTrust Properties has outperformed the S&P 500, with shares increasing by approximately 7.2% since the beginning of the year, while the S&P 500 gained 1.7% [3] 分组2 - The current consensus FFO estimate for the upcoming quarter is $0.47 on revenues of $74.01 million, and for the current fiscal year, it is $1.91 on revenues of $301.42 million [7] - The Zacks Industry Rank indicates that the REIT and Equity Trust - Other sector is currently in the bottom 27% of over 250 Zacks industries, suggesting potential challenges for stocks in this category [8] - The estimate revisions trend for InvenTrust Properties was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6]

Table of Contents | | Page No. | | --- | --- | | Introductory Notes | i | | Earnings Release | iii | | Financial Information | | | Summary Financial Information | 1 | | Consolidated Balance Sheets | 2 | | Consolidated Statements of Operations and Comprehensive Income | 3 | | Consolidated Supplemental Details of Assets and Liabilities | 4 | | Consolidated Supplemental Details of Operations | 5 | | Reconciliation of Non-GAAP Measures | | | Same Property Net Operating Income | 6 | | Nareit FFO and Core FFO | 7 ...

Core Viewpoint - InvenTrust Properties Corp. is scheduled to report its fourth quarter and full year 2025 earnings results on February 10, 2026, after market close [1] Earnings Release Information - The earnings release and supplemental information will be available on the Investor Relations section of the Company's website [1] - An earnings conference call will be hosted by the Company to discuss the results [1]

Group 1 - The article emphasizes the focus on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1][2] - It highlights the performance of retail investors in 2025, noting that they have become more resilient and are actively buying during market dips [2] - The investment group iREIT®+HOYA Capital offers high-yield, dividend growth investment ideas, targeting dividend yields up to 10% across various asset classes including REITs, ETFs, and closed-end funds [2] Group 2 - The article does not provide specific financial advice or recommendations, encouraging readers to conduct their own due diligence before making investment decisions [4][5] - It clarifies that past performance is not indicative of future results, and the views expressed may not represent the entire platform [5]

Core Viewpoint - InvenTrust Properties Corp. has declared a fourth quarter 2025 cash distribution of $0.2377 per share, which annualizes to $0.9508 per share, to be paid on or about January 15, 2026, to stockholders of record as of December 30, 2025 [1] Company Overview - InvenTrust Properties Corp. is a premier Sun Belt, multi-tenant essential retail REIT that focuses on owning, leasing, redeveloping, acquiring, and managing grocery-anchored neighborhood and community centers, as well as high-quality power centers with grocery components [2] - The company's business strategy includes acquiring retail properties in Sun Belt markets, opportunistically disposing of retail properties, and maintaining a flexible capital structure [2] - InvenTrust has established a strong reputation with market participants across its portfolio, leveraging its expertise in real estate to build trusted relationships with tenants [2]