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InvenTrust Properties (IVT)
NYSE:IVT
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Earnings Data
Report Date
Feb 18, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.05Last Year’s EPS
$0.04Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: 3.01%
|Next Earnings Date:Feb 18, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a strong performance for InvenTrust with significant liquidity improvements and record occupancy rates. While concerns exist regarding interest rates and consumer spending, the overall business fundamentals and growth prospects remain robust.Company Guidance
During InvenTrust's Q3 2024 earnings call, the company provided updated guidance reflecting strong operational performance. InvenTrust raised its full-year 2024 guidance for same-property NOI growth to a range of 4.25% to 5%, driven by a 6.5% increase in same-property NOI for the quarter, reaching $45.5 million, compared to Q3 2023. This growth was supported by a 300 basis point increase in base rent and 150 basis points from embedded rent bumps. Additionally, the company reported a NAREIT FFO of $91.8 million, or $1.34 per diluted share, a 7.2% increase year-over-year, and core FFO grew by 4.8% to $1.30 per share. InvenTrust's net leverage ratio improved to 20%, with net debt to adjusted EBITDA at 3.6x. The company's leased occupancy reached an all-time high of 97%, with a retention rate of 93% and blended leasing spreads in the high single digits. InvenTrust also completed a follow-on equity offering of approximately $250 million and increased its unsecured credit facility to $500 million, bolstering its liquidity and capital for future growth.Successful Follow-On Equity Offering
InvenTrust raised approximately $250 million through a follow-on equity offering, which was well received by both existing and new shareholders.
Increased Liquidity and Credit Facility
The company increased its unsecured credit facility by $150 million to $500 million, extending the maturity to January 2029, effectively adding nearly $400 million of additional liquidity.
Record Leased Occupancy
Leased occupancy reached 97%, setting a new high watermark for the portfolio, with a retention rate of 93%.
Strong Same-Property NOI Growth
Same-property NOI for the quarter was $45.5 million, growing by 6.5% over the same quarter last year.
Positive Tenant Demand
High demand for retail space continues, with almost full occupancy and strong leasing spreads.
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IVT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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IVT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $29.20 | $29.83 | +2.16% |
| Jul 31, 2024 | $27.73 | $27.54 | -0.69% |
| Apr 30, 2024 | $24.72 | $24.66 | -0.24% |
| Feb 13, 2024 | $24.19 | $24.31 | +0.50% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does InvenTrust Properties (IVT) report earnings?
InvenTrust Properties (IVT) is schdueled to report earning on Feb 18, 2025, TBA Not Confirmed.
What is InvenTrust Properties (IVT) earnings time?
InvenTrust Properties (IVT) earnings time is at Feb 18, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IVT EPS forecast?
IVT EPS forecast for the fiscal quarter 2024 (Q4) is $0.05.
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