NYSE$IVT

InvenTrust Properties Corp · Q4 2023 earnings

Q4 2023 earnings · · Investor relations

Briefing

Reported financial and operating results for the fourth quarter and full year and provided initial guidance for 2024.

InvenTrust Properties Corp. reported a positive fourth quarter and full year ended December 31, 2023, with significant increases in NAREIT FFO and Core FFO, driven by owning high quality open-air retail centers in Sun Belt markets and low levered balance sheet.

  • NAREIT FFO for the fourth quarter was $0.45 per diluted share, and $1.70 per diluted share for the full year.
  • Core FFO for the fourth quarter was $0.41 per diluted share, and $1.65 per diluted share for the full year.
  • Same Property Net Operating Income (“NOI”) growth was 6.4% for the fourth quarter and 4.9% for the full year.
  • Leased Occupancy as of December 31, 2023 was 96.2%, a fourth quarter sequential increase of 110 basis points and a full year increase of 10 basis points

Headline financials

Total Revenue

$64.7M

Previous: $59.3M+9.2%
EPS (adj)

$0.41

Previous: $0.34+20.6%
Nareit FFO per diluted share

$0.45

No prior period
Core FFO per diluted share

$0.41

No prior period
Same Property NOI growth

5.0%

Previous: 0.4%+1150.0%
Net Debt-to-Adjusted EBITDA

4.9

No prior period
Net Income

$2.9M

Previous: -$100K+3000.0%
Operating Income

$9M

Previous: $7.22M+24.7%
Gross Profit

$18.3M

Previous: $40M-54.1%

Revenue & EPS history

InvenTrust · Revenue · Quarterly

$64.7M

Q4 2023+9.2%vs Q4 2022
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Forward guidance

The Company has provided initial 2024 guidance.

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 2023

Historical avgQ4 2023

-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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