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Dec 31, 2021
InvenTrust Q4 2021 Earnings Report
Reported fourth quarter results for 2021 and provided guidance for 2022.
Key Takeaways
InvenTrust reported a net loss of $10.8 million for Q4 2021, with Core FFO at $0.38 per share and same property NOI increasing by 3.1%. The company executed 72 leases and had a leased occupancy of 93.9%.
NAREIT FFO for the quarter was $0.14 per diluted share.
Core FFO for the quarter was $0.38 per diluted share.
Pro Rata Same Property Net Operating Income increased 3.1% for the three month period.
Leased Occupancy as of December 31, 2021 was 93.9%.
Forward Guidance
InvenTrust provided full year 2022 guidance, including Net Income per diluted share, NAREIT FFO per diluted share, Core FFO per diluted share, and Same Property NOI Growth.
Positive Outlook
- Net Income per diluted share is projected to be between $0.13 and $0.19.
- NAREIT FFO per diluted share is expected to be between $1.53 and $1.59.
- Core FFO per diluted share is guided to be between $1.50 and $1.56.
- Same Property NOI Growth is anticipated to be between 2.75% and 4.75%.
- Net investment activity is projected to be approximately $190,000,000.
Challenges Ahead
- Guidance excludes potential gains and losses on asset sales.
- Guidance excludes items that impact NAREIT FFO comparability, including loss on debt extinguishment and non-routine items.
- Expectation that some tenants will move from the cash basis of accounting to the accrual basis, which can result in volatility.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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