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Mar 31, 2024
InvenTrust Q1 2024 Earnings Report
InvenTrust reported first quarter results, marked by robust leasing activity and solid financial performance.
Key Takeaways
InvenTrust Properties Corp. reported a strong start to 2024, driven by significant leasing activity and growth in key financial metrics. The company executed 41 leases, achieved same property NOI growth of 4.1%, and made strategic acquisitions, enhancing its portfolio in Sun Belt markets.
Nareit FFO per diluted share was $0.45.
Core FFO per diluted share was $0.44.
Same Property NOI increased by 4.1%.
Leased Occupancy reached 96.3% as of March 31, 2024.
InvenTrust
InvenTrust
InvenTrust Revenue by Segment
Revenue by Segment
Lease income, net Revenue
CapyFin.comOther property income Revenue
CapyFin.com Forward Guidance
InvenTrust has updated its 2024 guidance, anticipating continued growth in key financial metrics.
Positive Outlook
- Net Income per diluted share is projected to be between $0.06 and $0.12.
- Nareit FFO per diluted share is expected to range from $1.71 to $1.77.
- Core FFO per diluted share is forecasted to be between $1.67 and $1.71.
- Same Property NOI Growth is anticipated to be between 2.75% and 3.75%.
- Net investment activity is projected to be approximately $75 million.
Challenges Ahead
- Guidance excludes projections related to gains or losses on dispositions.
- Guidance excludes gains or losses on debt transactions.
- Guidance excludes depreciation, amortization, and straight-line rent adjustments related to acquisitions.
- Guidance includes an expectation of uncollectibility, reflected as 50-100 basis points of expected total revenue.
- Actual results may vary from assumptions due to factors outside the company's control.
Revenue & Expenses
Visualization of income flow from segment revenue to net income