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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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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