InvenTrust

Feb 13, 2024

•

Dec 31, 2023

InvenTrust Q4 2023 Earnings Report

Reported financial and operating results for the fourth quarter and full year and provided initial guidance for 2024.

Key Takeaways

InvenTrust Properties Corp. reported a positive fourth quarter and full year ended December 31, 2023, with significant increases in NAREIT FFO and Core FFO, driven by owning high quality open-air retail centers in Sun Belt markets and low levered balance sheet.

NAREIT FFO for the fourth quarter was $0.45 per diluted share, and $1.70 per diluted share for the full year.

Core FFO for the fourth quarter was $0.41 per diluted share, and $1.65 per diluted share for the full year.

Same Property Net Operating Income (“NOI”) growth was 6.4% for the fourth quarter and 4.9% for the full year.

Leased Occupancy as of December 31, 2023 was 96.2%, a fourth quarter sequential increase of 110 basis points and a full year increase of 10 basis points

Total Revenue

$64.7M

Previous year: $59.3M

Nareit FFO per diluted share

$0.45

Core FFO per diluted share

$0.41