InvenTrust Properties (IVT)

Search documents
InvenTrust Properties (IVT) - 2023 Q3 - Quarterly Report
2023-11-01 21:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 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) Maryland 34-2019608 (State or other jurisdict ...
InvenTrust Properties (IVT) - 2023 Q2 - Quarterly Report
2023-08-01 20:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 Maryland 34-2019608 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 3025 Highland Parkway, Suite 350 Downers Grove, Illinois 60515 (855) 377-0510 (Address of principal executive offices) (Zip Code) (Registrant's telephone number, including are ...
InvenTrust Properties (IVT) - 2023 Q2 - Earnings Call Transcript
2023-08-01 17:32
Inventrust Properties Corporation (NYSE:IVT) Q2 2023 Earnings Conference Call August 1, 2023 9:00 AM ET Company Participants Dan Lombardo - VP, IR DJ Busch - President, CEO, & Director Mike Phillips - CFO, EVP, & Treasurer Christy David - COO, EVP, General Counsel, Company Secretary Dave Heimberger - Chief Investment Officer, SVP Conference Call Participants Paulina Rojas - Green Street Advisors Cesar Bracho - Wells Fargo & Company Floris van Dijkum - Compass Point Lizzy Doykan - Bank of America Merrill Lyn ...
InvenTrust Properties (IVT) - 2023 Q1 - Quarterly Report
2023-05-02 20:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 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 (Exact name of registrant as specified in its charter) Maryland 34-2019608 (State or other jurisdiction of incorporation or organiza ...
InvenTrust Properties (IVT) - 2023 Q1 - Earnings Call Transcript
2023-04-28 16:26
Financial Data and Key Metrics Changes - The company reported first quarter NAREIT FFO of $28 million or $0.41 per share, and core FFO of $27.4 million or $0.40 per share, reflecting a decline compared to the first quarter of 2022 primarily due to higher interest rate expenses and a strategic exit from Colorado in 2022 [16] - On a sequential basis, both FFO results increased over 17% compared to the fourth quarter of 2022 [16] - Same-property net operating income (NOI) grew by 3.2% over the first quarter of 2022, finishing at $35.8 million [35] - The company declared a dividend payment for the second quarter of $0.215 per share, a 5% increase over the previous year [17] Business Line Data and Key Metrics Changes - The company leased 254,000 square feet of space during the quarter, achieving a leased occupancy rate of 96.1%, a 170 basis point increase over the first quarter of 2022 [22] - The anchor space leased occupancy increased to 98.8%, while small shop occupancy rose to 91.4%, both reaching all-time highs [22] - The same property portfolio average base rent (ABR) was $19.12, an increase of 2.6% compared to March 31, 2022 [63] Market Data and Key Metrics Changes - The necessity-based retail sector continues to show strength, with approximately 60% of the company's ABR coming from grocery, discount, or necessity-based retailers [11] - The lack of new retail supply has been a tailwind for the company, as development for new strip center properties has been below historical averages for nearly a decade [12] - The suburbanization movement, accelerated by the hybrid work model, has increased consumer activity near the company's centers [13] Company Strategy and Development Direction - The company aims to deliver sector-leading cash flow growth, supported by a simple and focused portfolio [6] - The management team is focused on fine-tuning the merchandise mix across properties to meet community needs, which is a key component of long-term strategy [31] - The company is exploring acquisition opportunities while remaining disciplined and patient in capital allocation due to a challenging transaction market [34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to push rents and fill vacancies due to strong demand and pricing power [61] - The company expects growth to accelerate in the second half of the year, reaffirming its 2023 core FFO guidance of $1.59 to $1.64 per share [19][37] - Management noted that the bankruptcy scenarios for struggling businesses are playing out as anticipated, providing confidence in reaffirming guidance [38] Other Important Information - The company has a net leverage ratio of 28% and net debt to adjusted EBITDA of 5.5 times on a trailing 12-month basis [36] - Approximately $436 million of total liquidity was available at quarter-end, including $350 million of borrowing capacity on the revolving line of credit [36] Q&A Session Summary Question: Can you provide an update on the Bed Bath & Beyond locations? - Management indicated that they are in constructive conversations with various tenants for the Bed Bath locations and expect letters of intent soon [21][25] Question: What are the expectations for credit loss? - Management reaffirmed their guidance on credit loss, indicating that they are comfortable with the current rent levels and potential upside if new tenants are secured [67] Question: How is the company addressing the upcoming debt maturities? - Management discussed their strategy for managing debt, including a recent $100 million swap to fix interest rates, and plans to evaluate options for upcoming maturities [74][76] Question: What is the outlook for acquisitions given the current market? - Management acknowledged the thin transaction market but remains open to opportunities, aiming for $150 million in net investment activity this year [49][70]
InvenTrust Properties (IVT) - 2022 Q4 - Annual Report
2023-02-21 21:24
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, 2022 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) Maryland 34-2019608 (State or other jurisdiction of in ...
InvenTrust Properties (IVT) - 2022 Q4 - Earnings Call Transcript
2023-02-15 17:59
InvenTrust Properties Corp. (NYSE:IVT) Q4 2022 Earnings Conference Call February 15, 2023 10:00 AM ET Company Participants Dan Lombardo - VP, IR Daniel Busch - President and CEO Mike Phillips - EVP, CFO and Treasurer Christy David - EVP, COO, General Counsel and Secretary Conference Call Participants Floris van Dijkum - Compass Point Operator Thank you for standing by and welcome to InvenTrust's Fourth Quarter 2022 Earnings Conference Call. My name is Emily and I'll be your conference call operator today. B ...
InvenTrust Properties (IVT) - 2022 Q3 - Earnings Call Transcript
2022-11-07 07:23
Start Time: 09:00 January 1, 0000 9:20 AM ET InvenTrust Properties Corp. (NYSE:IVT) Q3 2022 Earnings Conference Call November 02, 2022, 09:00 AM ET Company Participants Daniel Busch - President and CEO Mike Phillips - EVP, CFO and Treasurer Christy David - EVP, COO, General Counsel and Secretary Dan Lombardo - VP, IR Conference Call Participants Floris van Dijkum - Compass Point Craig Schmidt - Bank of America Operator Thank you for standing by and welcome to InvenTrust's Third Quarter 2022 Earnings Confere ...
InvenTrust Properties (IVT) - 2022 Q3 - Quarterly Report
2022-11-02 20:42
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 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) | Maryland | 34-2019608 | | --- | --- | | (St ...
InvenTrust Properties (IVT) - 2022 Q2 - Quarterly Report
2022-08-02 20:38
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 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) | Maryland | 34-2019608 | | --- | --- | | (State o ...