InvenTrust Properties Corp

For the period ended Sep 30, 2024. Filed Oct 29, 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.

Sep 30, 2024 · Filed Oct 29, 2024

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

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Contents

Item 1. Financial Statements

	As of
	September 30, 2024	December 31, 2023
(unaudited)
Assets
Investment properties
Land	$710,160	$694,668
Building and other improvements	2,013,459	1,956,117
Construction in progress	11,716	5,889
Total	2,735,335	2,656,674
Less accumulated depreciation	(496,559)	(461,352)
Net investment properties	2,238,776	2,195,322
Cash, cash equivalents and restricted cash	202,758	99,763
Intangible assets, net	107,004	114,485
Accounts and rents receivable	34,797	35,353
Deferred costs and other assets, net	37,146	42,408
Total assets	$2,620,481	$2,487,331
Liabilities
Debt, net	$740,109	$814,568
Accounts payable and accrued expenses	48,683	44,583
Distributions payable	17,455	14,594
Intangible liabilities, net	30,369	30,344
Other liabilities	28,660	29,198
Total liabilities	865,276	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, 77,130,431 shares issued and outstanding as of September 30, 2024 and 67,807,831 shares issued and outstanding as of December 31, 2023	77	68
Additional paid-in capital	5,721,592	5,468,728
Distributions in excess of accumulated net income	(3,977,152)	(3,932,826)
Accumulated comprehensive income	10,688	18,074
Total stockholders' equity	1,755,205	1,554,044
Total liabilities and stockholders' equity	$2,620,481	$2,487,331

Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income

(in thousands, except share and per share amounts)

	Three months ended September 30		Nine months ended September 30
	2024	2023	2024	2023
Income
Lease income, net	$68,132	$63,716	$201,681	$192,814
Other property income	389	346	1,061	1,060
Other fee income	—	—	—	80
Total income	68,521	64,062	202,742	193,954
Operating expenses
Depreciation and amortization	28,134	30,318	85,092	85,339
Property operating	10,795	11,070	31,037	31,056
Real estate taxes	9,205	8,781	27,232	27,361
General and administrative	8,133	7,610	24,768	23,389
Total operating expenses	56,267	57,779	168,129	167,145
Other (expense) income
Interest expense, net	(9,470)	(9,555)	(28,744)	(28,441)
Impairment of real estate assets	(3,854)	—	(3,854)	—
Gain on sale of investment properties	334	1,707	334	2,691
Equity in earnings (losses) of unconsolidated entities	—	67	—	(447)
Other income and expense, net	197	676	1,510	1,767
Total other (expense) income, net	(12,793)	(7,105)	(30,754)	(24,430)
Net (loss) income	$(539)	$(822)	$3,859	$2,379
Weighted-average common shares outstanding - basic	68,526,238	67,531,335	68,101,901	67,521,110
Weighted-average common shares outstanding - diluted	68,526,238	67,531,335	68,659,319	67,720,485
Net (loss) income per common share - basic	$(0.01)	$(0.01)	$0.06	$0.04
Net (loss) income per common share - diluted	$(0.01)	$(0.01)	$0.06	$0.04
Distributions declared per common share	$0.23	$0.22	$0.68	$0.65
Distributions paid per common share	$0.23	$0.22	$0.67	$0.64
Comprehensive (loss) income
Net (loss) income	$(539)	$(822)	$3,859	$2,379
Unrealized (loss) gain on derivatives, net	(7,145)	5,978	2,560	13,496
Reclassification to net (loss) income	(3,315)	(4,213)	(9,946)	(11,089)
Comprehensive (loss) income	$(10,999)	$943	$(3,527)	$4,786

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.