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Mar 31, 2023
InvenTrust Q1 2023 Earnings Report
InvenTrust reported financial and operating results for the period ended March 31, 2023.
Key Takeaways
InvenTrust Properties Corp. reported a net income of $1.1 million, or $0.02 per diluted share, NAREIT FFO of $0.41 per diluted share, Core FFO of $0.40 per diluted share, and Same Property NOI growth of 3.2% for the first quarter of 2023.
NAREIT FFO of $0.41 per diluted share
Core FFO of $0.40 per diluted share
Same Property Net Operating Income (“NOI”) growth of 3.2%
Leased Occupancy as of March 31, 2023 of 96.1%
Forward Guidance
InvenTrust has updated its 2023 guidance.
Positive Outlook
- Net Income per diluted share $0.06—$0.11
- NAREIT FFO per diluted share $1.64—$1.69
- Core FFO per diluted share $1.59—$1.64
- Same Property NOI (“SPNOI”) Growth 3.50%—5.00%
- General and administrative $31250—$32750
Challenges Ahead
- Interest expense, net $34500—$35500
- Adjustments for uncollectibility 50 bps—150 bps
- Net investment activity ~ $150000
Historical Earnings Impact
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Avg. Return Before/After Earnings
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