InvenTrust Properties Corp

For the period ended Dec 31, 2023. Filed Feb 14, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 14, 2024

IVT$32.09+0.7%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Consolidated Balance Sheets as of December 31, 202 and

Consolidated Balance Sheets

(in thousands, except share amounts)

	As of December 31,
	2023	2022
Assets
Investment properties
Land	$694,668	$650,764
Building and other improvements	1,956,117	1,825,893
Construction in progress	5,889	5,005
Total	2,656,674	2,481,662
Less accumulated depreciation	(461,352)	(389,361)
Net investment properties	2,195,322	2,092,301
Cash, cash equivalents and restricted cash	99,763	137,762
Investment in unconsolidated entities	—	56,131
Intangible assets, net	114,485	101,167
Accounts and rents receivable	35,353	34,528
Deferred costs and other assets, net	42,408	51,145
Total assets	$2,487,331	$2,473,034
Liabilities
Debt, net	$814,568	$754,551
Accounts payable and accrued expenses	44,583	42,792
Distributions payable	14,594	13,837
Intangible liabilities, net	30,344	29,658
Other liabilities	29,198	28,287
Total liabilities	933,287	869,125
Commitments and contingencies
Stockholders' Equity
Preferred stock, $0.001 par value, 40,000,000 shares authorized, none outstanding	—	—
Common stock, $0.001 par value, 146,000,000 shares authorized,67,807,831 shares issued and outstanding as of December 31, 2023 and 67,472,553 shares issued and outstanding as of December 31, 2022	68	67
Additional paid-in capital	5,468,728	5,456,968
Distributions in excess of accumulated net income	(3,932,826)	(3,879,847)
Accumulated comprehensive income	18,074	26,721
Total stockholders' equity	1,554,044	1,603,909
Total liabilities and stockholders' equity	$2,487,331	$2,473,034

Consolidated Statements of Operations and Comprehensive (Loss) Income

(in thousands, except share and per share amounts)

	Year Ended December 31
	2023	2022	2021
Income
Lease income, net	$257,146	$232,980	$207,350
Other property income	1,450	1,161	1,087
Other fee income	80	2,566	3,542
Total income	258,676	236,707	211,979
Operating expenses
Depreciation and amortization	113,430	94,952	87,143
Property operating	42,832	40,239	32,788
Real estate taxes	34,809	32,925	31,312
General and administrative	31,797	33,342	38,192
Direct listing costs	—	—	19,769
Total operating expenses	222,868	201,458	209,204
Other (expense) income
Interest expense, net	(38,138)	(26,777)	(16,261)
Loss on extinguishment of debt	(15)	(181)	(400)
Gain on sale of investment properties, net	2,691	38,249	1,522
Equity in (losses) earnings of unconsolidated entities	(557)	3,663	6,398
Other income and expense, net	5,480	2,030	606
Total other (expense) income, net	(30,539)	16,984	(8,135)
Net income (loss)	$5,269	$52,233	$(5,360)
Weighted-average common shares outstanding, basic	67,531,898	67,406,233	71,072,933
Weighted-average common shares outstanding, diluted	67,813,180	67,525,935	71,072,933
Net income (loss) per common share - basic	$0.08	$0.77	$(0.08)
Net income (loss) per common share - diluted	$0.08	$0.77	$(0.08)
Distributions declared per common share outstanding	$0.86	$0.82	$0.78
Distributions paid per common share outstanding	$0.85	$0.82	$0.78
Comprehensive (loss) income
Net income (loss)	$5,269	$52,233	$(5,360)
Unrealized gain on derivatives	6,228	32,052	3,795
Reclassification (to) from net income (loss)	(14,875)	(1,009)	4,332
Comprehensive (loss) income	$(3,378)	$83,276	$2,767

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.