NYSE$IVT

InvenTrust Properties Corp · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Reported fourth quarter results for 2021 and provided guidance for 2022.

InvenTrust reported a net loss of $10.8 million for Q4 2021, with Core FFO at $0.38 per share and same property NOI increasing by 3.1%. The company executed 72 leases and had a leased occupancy of 93.9%.

  • NAREIT FFO for the quarter was $0.14 per diluted share.
  • Core FFO for the quarter was $0.38 per diluted share.
  • Pro Rata Same Property Net Operating Income increased 3.1% for the three month period.
  • Leased Occupancy as of December 31, 2021 was 93.9%.

Headline financials

Total Revenue

$53.6M

Previous: $51.2M+4.6%
EPS (adj)

$0.38

Previous: -$1.24+130.6%
Leased Occupancy

93.9%

No prior period
Net Debt-to-Adjusted EBITDA

4.6

No prior period
Net Income

-$10.8M

Previous: $1.25M-966.8%
Operating Income

-$11.2M

Previous: $5.67M-297.1%
Gross Profit

$38.2M

Previous: $37.1M+3.0%
Cash & Equivalents

$44.9M

Previous: $223M-79.9%
Total Assets

$2.21B

Previous: $2.41B-8.1%

Revenue & EPS history

InvenTrust · Revenue · Quarterly

$53.6M

Q4 2021+4.6%vs Q4 2020
Beat estimate in 3 of 3 quarters(100%)
ActualEstimate

Forward guidance

InvenTrust provided full year 2022 guidance, including Net Income per diluted share, NAREIT FFO per diluted share, Core FFO per diluted share, and Same Property NOI Growth.

Tailwinds

  • Net Income per diluted share is projected to be between $0.13 and $0.19.
  • NAREIT FFO per diluted share is expected to be between $1.53 and $1.59.
  • Core FFO per diluted share is guided to be between $1.50 and $1.56.
  • Same Property NOI Growth is anticipated to be between 2.75% and 4.75%.
  • Net investment activity is projected to be approximately $190,000,000.

Headwinds

  • Guidance excludes potential gains and losses on asset sales.
  • Guidance excludes items that impact NAREIT FFO comparability, including loss on debt extinguishment and non-routine items.
  • Expectation that some tenants will move from the cash basis of accounting to the accrual basis, which can result in volatility.
  • General and administrative guidance includes expenses associated with oversight of the joint venture.
  • The Company's 2022 Outlook and Guidance is based on a number of assumptions that are subject to change and may be outside the control of the Company.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

-1.0%

Avg return

Earnings day

-2.9%

Avg return

5 days after

-3.7%

Avg return

30 days after

27%

12 / 45 earnings

Positive

+42.6%

Q4 2014

Best reaction

-90.0%

Q2 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.8%-3.2%+1.3%
Q4 2025-0.1%+0.4%+2.1%
Q3 2025-2.8%-2.4%+1.1%
Q1 2025+1.1%+0.4%+0.8%
Q4 2024+1.4%-0.0%-4.9%
Q3 2024+2.0%+0.3%+6.2%
Q2 2024+1.0%-2.4%+7.1%
Q1 2024-0.2%-0.9%-4.1%
Q4 2023-1.5%+0.4%-3.2%
Q3 2023+1.2%+0.3%-0.2%
Q2 2023+2.2%+1.2%-0.3%
Q1 2023+4.4%+3.6%-2.6%
Q4 2022+1.7%+0.4%-8.2%
Q3 2022-4.1%-0.1%+0.6%
Q2 2022-1.7%-3.5%-8.4%
Q1 2022+0.8%-1.9%+3.1%
Q4 2021-1.3%-4.2%+6.1%
Q3 2021+3.0%+3.9%+2.1%
Q2 2021-90.0%-90.0%-91.4%
Q1 2021+0.0%+0.0%-1.6%
Q4 2020+0.0%+0.0%+9.2%
Q3 2020+0.0%+0.0%+0.0%
Q2 2020+0.0%+0.0%+0.0%
Q1 2020+0.0%+0.0%+0.0%
Q4 2019+0.0%+0.0%+0.0%
Q3 2019+0.0%+0.0%+0.0%
Q2 2019+0.0%+0.0%+0.0%
Q1 2019+0.0%+0.0%+0.0%
Q4 2018+0.0%+0.0%+0.0%
Q3 2018+0.0%-13.9%-13.9%
Q2 2018+0.0%+0.0%+20.0%
Q1 2018+0.0%+0.0%+0.0%
Q4 2017+0.0%+0.0%+0.0%
Q3 2017+0.0%+0.0%+0.0%
Q2 2017+0.0%+0.0%+0.0%
Q1 2017+0.0%+0.0%-41.5%
Q4 2016+0.0%+0.0%-21.9%
Q3 2016+0.0%+0.0%+0.0%
Q2 2016+0.0%-0.6%-0.6%
Q1 2016-2.0%
Q4 2015-3.2%
Q3 2015-0.2%
Q2 2015-0.7%
Q1 2015
Q4 2014+42.6%
Q3 2014-0.8%
Q2 2014
Q4 2013
Q1 2014
Q3 2013
Q2 2013
Q1 2013
Q4 2012
Q3 2012
Q2 2012
Q1 2012
Q4 2011
Q3 2011
Q2 2011
Q1 2011
Q4 2010
Q3 2010
Q2 2010
Q1 2010

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