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Dec 31, 2024
InvenTrust Q4 2024 Earnings Report
InvenTrust Properties Corp. reported its financial and operating results for the fourth quarter and full year ended December 31, 2024.
Key Takeaways
InvenTrust Properties Corp. reported a significant increase in net income for Q4 2024, reaching $9.8 million compared to $2.9 million in Q4 2023. The company also saw strong Same Property NOI growth of 7.1% and achieved a leased occupancy of 97.4%.
Net Income for Q4 2024 increased to $9.8 million, up from $2.9 million in Q4 2023.
Same Property Net Operating Income (NOI) grew by 7.1% for the fourth quarter.
Leased Occupancy reached 97.4% as of December 31, 2024, a sequential increase of 40 basis points.
The Board of Directors approved a 5% increase to the Company's dividends starting in April 2025.
InvenTrust
InvenTrust
InvenTrust Revenue by Segment
Revenue by Segment
Lease income, net Revenue
CapyFin.comOther property income Revenue
CapyFin.com Forward Guidance
InvenTrust Properties Corp. provided initial guidance for 2025, projecting Net Income per diluted share between $0.27 and $0.33, Nareit FFO per diluted share between $1.83 and $1.89, and Core FFO per diluted share between $1.79 and $1.83. Same Property NOI growth is expected to be between 3.50% and 4.50%.
Positive Outlook
- Projected Net Income per diluted share of $0.27 - $0.33.
- Anticipated Nareit FFO per diluted share of $1.83 - $1.89.
- Expected Core FFO per diluted share of $1.79 - $1.83.
- Forecasted Same Property NOI growth of 3.50% - 4.50%.
- General and administrative expenses are expected to be between $34.25 million and $35.75 million.
Challenges Ahead
- Interest expense, net, is projected to be between $31.0 million and $31.5 million.
- Net investment activity is anticipated to be $100.0 million.
- Guidance excludes projections related to gains or losses on dispositions and debt transactions.
- Guidance excludes depreciation, amortization, and straight-line rent adjustments related to acquisitions.
- The Company's expectations may change if actual results vary from assumptions.