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Dec 31, 2025
InvenTrust Q4 2025 Earnings Report
InvenTrust Properties Corp. reported financial and operating results for the fourth quarter and full year ended December 31, 2025, and provided initial guidance for 2026.
Key Takeaways
InvenTrust Properties Corp. delivered exceptional performance in Q4 2025, with Net Income of $2.7 million and Nareit FFO of $0.47 per diluted share. The company achieved strong Same Property NOI growth of 3.0% and maintained high leased occupancy at 96.7%. Strategic acquisitions and a dividend increase further underscore a positive outlook for 2026.
Nareit FFO for the fourth quarter was $0.47 per diluted share, an increase from $0.45 per diluted share in the same period of 2024.
Same Property Net Operating Income (NOI) growth was 3.0% for the fourth quarter, compared to the same period in 2024.
The company executed 79 leases in the fourth quarter, totaling approximately 350,000 square feet of GLA, with a blended comparable lease spread of 14.1%.
Two properties were acquired in the fourth quarter for an aggregate purchase price of $109.0 million, totaling approximately 242,000 square feet.
Revenue by Segment
Forward Guidance
InvenTrust Properties Corp. has provided initial 2026 guidance, projecting Net Income per diluted share between $0.16 and $0.22, Nareit FFO per diluted share between $1.97 and $2.03, and Core FFO per diluted share between $1.91 and $1.95. Same Property NOI growth is expected to be between 3.25% and 4.25%.
Positive Outlook
- Projected Nareit FFO per diluted share of $1.97 - $2.03, indicating continued strong operational performance.
- Anticipated Core FFO per diluted share of $1.91 - $1.95, reflecting healthy core business metrics.
- Expected Same Property NOI growth of 3.25% - 4.25%, suggesting sustained property-level profitability.
- General and administrative expenses are projected to remain stable at $35.75 million - $36.75 million.
- Net investment activity is anticipated at $300 million, indicating strategic growth through acquisitions.
Challenges Ahead
- Net Income per diluted share is projected to be lower than the 2025 actual, ranging from $0.16 to $0.22.
- The guidance excludes projections related to gains or losses on dispositions, which could impact overall profitability.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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