InvenTrust Properties Corp

For the period ended Jun 30, 2024. Filed Jul 31, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Jul 31, 2024

IVT$31.88+1.2%Stored close · as of Nov 9, 2026

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Contents

Item 1. Financial Statements

	As of
	June 30, 2024	December 31, 2023
(unaudited)
Assets
Investment properties
Land	$705,798	$694,668
Building and other improvements	2,013,451	1,956,117
Construction in progress	9,511	5,889
Total	2,728,760	2,656,674
Less accumulated depreciation	(495,211)	(461,352)
Net investment properties	2,233,549	2,195,322
Cash, cash equivalents and restricted cash	37,129	99,763
Intangible assets, net	111,647	114,485
Accounts and rents receivable	30,861	35,353
Deferred costs and other assets, net	46,889	42,408
Total assets	$2,460,075	$2,487,331
Liabilities
Debt, net	$812,217	$814,568
Accounts payable and accrued expenses	39,457	44,583
Distributions payable	15,370	14,594
Intangible liabilities, net	30,424	30,344
Other liabilities	27,034	29,198
Total liabilities	924,502	933,287
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, 67,917,128 shares issued and outstanding as of June 30, 2024 and 67,807,831 shares issued and outstanding as of December 31, 2023	68	68
Additional paid-in capital	5,473,515	5,468,728
Distributions in excess of accumulated net income	(3,959,158)	(3,932,826)
Accumulated comprehensive income	21,148	18,074
Total stockholders' equity	1,535,573	1,554,044
Total liabilities and stockholders' equity	$2,460,075	$2,487,331

Condensed Consolidated Statements of Operations and Comprehensive Income

(in thousands, except share and per share amounts)

	Three months ended June 30		Six months ended June 30
	2024	2023	2024	2023
Income
Lease income, net	$67,056	$64,268	$133,549	$129,098
Other property income	367	419	672	714
Other fee income	—	—	—	80
Total income	67,423	64,687	134,221	129,892
Operating expenses
Depreciation and amortization	28,790	28,263	56,958	55,021
Property operating	10,243	9,756	20,242	19,986
Real estate taxes	9,046	8,952	18,027	18,580
General and administrative	8,661	8,048	16,635	15,779
Total operating expenses	56,740	55,019	111,862	109,366
Other (expense) income
Interest expense, net	(9,640)	(9,377)	(19,274)	(18,886)
Gain on sale of investment properties	—	984	—	984
Equity in earnings (losses) of unconsolidated entities	—	149	—	(514)
Other income and expense, net	455	644	1,313	1,091
Total other (expense) income, net	(9,185)	(7,600)	(17,961)	(17,325)
Net income	$1,498	$2,068	$4,398	$3,201
Weighted-average common shares outstanding - basic	67,900,275	67,523,105	67,887,402	67,515,913
Weighted-average common shares outstanding - diluted	68,327,263	67,711,848	68,299,657	67,683,226
Net income per common share - basic	$0.02	$0.03	$0.06	$0.05
Net income per common share - diluted	$0.02	$0.03	$0.06	$0.05
Distributions declared per common share outstanding	$0.23	$0.22	$0.45	$0.43
Distributions paid per common share outstanding	$0.23	$0.22	$0.44	$0.42
Comprehensive income
Net income	$1,498	$2,068	$4,398	$3,201
Unrealized gain on derivatives, net	2,386	10,835	9,705	7,518
Reclassification to net income	(3,314)	(3,984)	(6,631)	(6,876)
Comprehensive income	$570	$8,919	$7,472	$3,843

ContentsView on SEC.gov

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