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Jun 30, 2023
InvenTrust Q2 2023 Earnings Report
InvenTrust reported second quarter results, highlighted by NAREIT FFO and Core FFO of $0.43 per diluted share and same property NOI growth of 3.7%.
Key Takeaways
InvenTrust Properties Corp. reported financial and operating results for the period ended June 30, 2023. Net Income was $2.1 million, or $0.03 per diluted share. Same Property Net Operating Income increased by 3.7%. The company updated its 2023 guidance with Core FFO per diluted share expected to be $1.61-$1.64.
NAREIT FFO of $0.43 per diluted share
Core FFO of $0.43 per diluted share
Same Property Net Operating Income (NOI) growth of 3.7%
Leased Occupancy as of June 30, 2023 of 96.2%
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: $1.61—$1.64
- Same Property NOI (“SPNOI”) Growth: 4.00%—5.00%
- Net investment activity: ~$150,000
Challenges Ahead
- General and administrative: $31,250—$32,750
- Interest expense, net: $34,000—$34,500
- Adjustments for uncollectibility: 50 bps—150 bps
- Net Income per diluted share excludes effects from potential acquisitions or dispositions.
- NAREIT FFO per diluted share excludes effects from potential acquisitions or dispositions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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