InvenTrust Properties Corp. (IVT) 10-Year Financial Performance & Capital Metrics

IVT • • REIT / Real Estate

Real EstateRetail REITsGrocery-Anchored Shopping CentersNational Grocery-Anchored REITs

AboutInvenTrust Properties Corp. is a premier multi-tenant retail REIT that owns, leases, redevelops, acquires and manages grocery-anchored neighborhood centers, and select power centers that often have a grocery component, predominantly in Sun Belt markets with favorable demographics. We seek to continue to execute our strategy to enhance our multi-tenant retail platform by further investing in grocery-anchored centers with essential retail in our current markets, while exhibiting focused and disciplined capital allocation.Show more

Revenue $274M +5.9%
FFO $128M +7.5%
FFO/Share 1.80 +2.7%
FFO Payout 49.2% +1.6%
FFO per Share 1.80 +2.7%
NOI Margin 70.85% +1.2%
FFO Margin 46.58% +1.5%
ROE 0.82% +147.0%
ROA 0.53% +151.0%
Debt/Assets 28.09% -14.2%
Net Debt/EBITDA 4.06 -15.7%
Book Value/Share 24.78 +8.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FFO growing 101.4% TTM
✓Sustainable FFO payout ratio of 49.2%
✓High NOI margin of 70.9%
✓Healthy dividend yield of 3.1%
✓Trading at only 1.2x book value

✗Weaknesses

✗Weak 3Y average ROE of 1.5%
✗Profits declining 18.7% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-14.92%

5Y3.88%

3Y8.93%

TTM8.83%

Profit (Net Income) CAGR

10Y-30.05%

5Y-18.68%

3Y-

TTM1656.69%

EPS CAGR

10Y-28.58%

5Y-26.4%

3Y-

TTM1440.65%

ROCE

10Y Avg0.84%

5Y Avg1.16%

3Y Avg1.63%

Latest1.88%

Peer Comparison

National Grocery-Anchored REITs

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
IVTInvenTrust Properties Corp.	2.23B	28.67	150.89	5.91%	40.59%	6.55%	4.53%	0.42
PECOPhillips Edison & Company, Inc.	4.44B	35.26	69.14	8.4%	10.46%	3.34%	5.4%	0.80
KIMKimco Realty Corporation	14.07B	20.78	37.78	14.22%	26.51%	5.32%	4.84%	0.79
REGRegency Centers Corporation	12.78B	69.85	33.10	9.74%	26.36%	5.83%	6.19%	0.73

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	450.04M	249.69M	251.81M	242.67M	226.49M	197.83M	211.98M	236.71M	258.68M	273.97M
Revenue Growth %	-0.67%	-0.45%	0.01%	-0.04%	-0.07%	-0.13%	0.07%	0.12%	0.09%	0.06%
Property Operating Expenses	128.48M	69.59M	67.52M	70.03M	66.18M	58.75M	64.1M	73.16M	77.64M	79.85M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	228.62M	140.26M	141.71M	135.86M	132.79M	120.9M	145.1M	128.29M	145.23M	147.12M
G&A Expenses	78.22M	53.98M	46.37M	35.27M	35.36M	33.14M	38.19M	33.34M	31.8M	33.17M
EBITDA+	145.3M	202.56M	224.06M	239.16M	124.95M	105.94M	89.92M	130.2M	149.24M	160.95M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	160.5M	203.86M	209.23M	205.89M	97.43M	87.75M	87.14M	94.95M	113.43M	113.95M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	-15.21M	-1.29M	14.83M	33.28M	27.52M	18.18M	2.77M	35.25M	35.81M	47M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	53.69M	44.13M	30.16M	24.94M	22.72M	18.75M	16.26M	26.78M	38.14M	37.1M
Interest Coverage	-0.28x	-0.03x	0.49x	1.33x	1.21x	0.97x	0.17x	1.32x	0.94x	1.27x
Non-Operating Income	7.25M	-115.4M	62.56M	-1.79M	-59.09M	0	-8.13M	0	-7.6M	-3.76M
Pretax Income+	587K	87.15M	59.28M	83.88M	63.9M	-10.17M	-5.36M	52.23M	5.27M	13.66M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1.92M	201K	1.32M	30K	1.1M	0	0	0	0	0
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	3.46M	252.72M	61.79M	83.85M	38.4M	-10.17M	-5.36M	52.23M	5.27M	13.66M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.99%	71.96%	-0.76%	0.36%	-0.54%	-1.26%	0.47%	10.74%	-0.9%	1.59%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	-0.8%	1.78%	-0.41%	0.07%	-0.53%	-0.43%	0.05%	0.8%	-0.19%	0.08%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	0.10	2.90	0.70	1.10	0.88	-0.14	-0.08	0.77	0.08	0.19
EPS Growth %	-0.98%	28%	-0.76%	0.57%	-0.2%	-1.16%	0.46%	11.21%	-0.9%	1.45%
EPS (Basic)	0.10	2.90	0.70	1.10	0.88	-0.14	-0.08	0.77	0.08	0.19
Diluted Shares Outstanding	86.18M	85.46M	77.46M	76.21M	72.94M	71.99M	71.07M	67.53M	67.81M	71.01M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	4.21B	2.79B	2.7B	2.54B	2.51B	2.41B	2.21B	2.47B	2.49B	2.64B
Asset Growth %	-0.44%	-0.34%	-0.03%	-0.06%	-0.01%	-0.04%	-0.08%	0.12%	0.01%	0.06%
Real Estate & Other Assets+	3.52B	1.91B	2.2B	1.98B	1.98B	1.95B	22.94M	2.14B	2.24B	42.43M
PP&E (Net)	1.87B	1.83B	2.17B	1.96B	1.98M	1.8M	1.93B	2.65M	0	2.33B
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	0
Total Current Assets+	441.87M	629.94M	207.16M	291.94M	290.94M	252.75M	74.91M	172.29M	135.12M	127.35M
Cash & Equivalents	203.28M	397.25M	162.75M	260.13M	255.07M	222.61M	36.99M	137.62M	96.39M	87.39M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	16.5M	18.32M	9.13M	4.72M	5.68M	1.16M	7.87M	142K	3.38M	0
Intangible Assets	71.13M	72.26M	115.41M	108M	116.36M	95.72M	81.03M	101.17M	114.48M	137.42M
Total Liabilities	2.06B	837.23M	792.88M	683.69M	687.59M	668.48M	640.86M	869.13M	933.29M	875.95M
Total Debt+	1.88B	730.61M	667.86M	561.78M	575.02M	557.09M	540.59M	754.55M	814.57M	740.41M
Net Debt	1.68B	333.36M	505.11M	301.65M	319.95M	334.48M	503.6M	616.93M	718.18M	653.02M
Long-Term Debt	1.09B	670.66M	667.86M	561.78M	572.85M	555.11M	533.08M	754.55M	814.57M	740.41M
Short-Term Borrowings	0	0	0	0	0	0	1000K	0	0	0
Capital Lease Obligations	38.02M	43.94M	53.53M	49.5M	2.17M	1.98M	3.19M	0	0	2.53M
Total Current Liabilities+	120.46M	51.29M	51.24M	45.81M	43.06M	41.93M	54.33M	56.63M	59.18M	63.93M
Accounts Payable	47.2M	38.24M	37.8M	32.78M	29.8M	28.28M	36.21M	42.79M	44.58M	46.42M
Deferred Revenue	0	-670.66M	-103.91M	-532K	0	0	0	0	0	0
Other Liabilities	849.61M	115.27M	73.78M	26.07M	69.51M	69.47M	50.26M	57.95M	59.54M	71.6M
Total Equity+	2.15B	2.25B	2.46B	2.2B	1.82B	1.74B	1.57B	1.6B	1.55B	1.76B
Equity Growth %	-0.46%	0.05%	0.09%	-0.1%	-0.17%	-0.04%	-0.1%	0.02%	-0.03%	0.13%
Shareholders Equity	2.15B	1.95B	1.91B	1.85B	1.82B	1.74B	1.57B	1.6B	1.55B	1.76B
Minority Interest	0	299.03M	549.51M	345.7M	0	0	0	0	0	0
Common Stock	862K	773K	773K	729K	721K	72K	67K	67K	68K	77K
Additional Paid-in Capital	6.07B	5.68B	5.68B	5.59B	5.57B	5.57B	5.45B	5.46B	5.47B	5.73B
Retained Earnings	-3.96B	-3.79B	-3.78B	-3.74B	-3.75B	-3.82B	0	-3.88B	-3.93B	-3.98B
Preferred Stock	0	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	0%	0.07%	0.02%	0.03%	0.02%	-0%	-0%	0.02%	0%	0.01%
Return on Equity (ROE)	0%	0.11%	0.03%	0.04%	0.02%	-0.01%	-0%	0.03%	0%	0.01%
Debt / Assets	0.45%	0.26%	0.25%	0.22%	0.23%	0.23%	0.24%	0.31%	0.33%	0.28%
Debt / Equity	0.87x	0.32x	0.27x	0.26x	0.32x	0.32x	0.34x	0.47x	0.52x	0.42x
Net Debt / EBITDA	11.53x	1.65x	2.25x	1.26x	2.56x	3.16x	5.60x	4.74x	4.81x	4.06x
Book Value per Share	24.93	26.31	31.70	28.84	24.95	24.15	22.11	23.75	22.92	24.78

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	194.73M	120.53M	118.15M	124.66M	106.01M	94.16M	89.96M	125.8M	129.62M	136.88M
Operating CF Growth %	-0.43%	-0.38%	-0.02%	0.06%	-0.15%	-0.11%	-0.04%	0.4%	0.03%	0.06%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	3.48M	252.72M	61.79M	83.85M	38.4M	-10.17M	-5.36M	52.23M	5.27M	13.66M
Depreciation & Amortization	160.5M	112.17M	91.22M	95.25M	91.28M	80.69M	82.83M	89.36M	110.09M	113.95M
Stock-Based Compensation	2.48M	2.18M	3.35M	4.33M	5.54M	4.45M	9.12M	6.54M	9.02M	0
Other Non-Cash Items	2.15M	-5.91M	-983K	-3.21M	-1.76M	-764K	-1.46M	-33.65M	-322K	6.52M
Working Capital Changes	-8.44M	-6.75M	13.34M	5.96M	-3.48M	-10.48M	2M	11.3M	5.57M	2.75M
Cash from Investing+	-164.27M	1.07B	-193.24M	175.41M	-41.8M	-49.06M	-64.7M	-144.46M	-79.72M	-240.53M
Acquisitions (Net)	4.94M	-856K	-6.88M	-2.78M	30M	-8.03M	39.79M	0	0	0
Purchase of Investments	-307.12M	-53.08M	-3.63M	-3.8M	-7.1M	41.45M	-53.08M	-235M	0	-268.13M
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	1000K
Other Investing	117.87M	1.15B	-288.29M	225.93M	-64.69M	-71.84M	-45.28M	74.97M	-43.97M	-1.36M
Cash from Financing+	-560.33M	-994.57M	-159.41M	-207.1M	-68.32M	-82.07M	-204.17M	111.57M	-87.9M	95.12M
Dividends Paid	-146.51M	-98.61M	-53.36M	-54.19M	-53.25M	-54.21M	-55.56M	-55.3M	-57.49M	-62.78M
Common Dividends	-146.51M	-98.61M	-53.36M	-54.19M	-53.25M	-54.21M	-55.56M	-55.3M	-57.49M	0
Debt Issuance (Net)	-1000K	-1000K	-1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K	-1000K
Share Repurchases	-125K	-241.02M	-2.19M	-98.45M	-20.38M	-5.2M	-116.4M	-1.58M	0	0
Other Financing	-296.69M	-39.8M	-631K	-10.2M	-3.68M	-3.39M	-11.91M	-2.65M	-2.08M	-2.6M
Net Change in Cash+	-529.87M	193.97M	-234.5M	92.97M	-4.11M	-36.98M	-178.92M	92.91M	-38M	-8.54M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	733.15M	203.28M	397.25M	171.88M	264.85M	260.75M	223.77M	44.85M	137.76M	99.76M
Cash at End	203.28M	397.25M	162.75M	264.85M	260.75M	223.77M	44.85M	137.76M	99.76M	91.22M
Free Cash Flow+	156.4M	81.23M	52.03M	76.03M	53.03M	75.49M	70.54M	102.07M	93.88M	100.76M
FCF Growth %	-0.39%	-0.48%	-0.36%	0.46%	-0.3%	0.42%	-0.07%	0.45%	-0.08%	0.07%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	1.9	5.34	3.5	3.8	1.86	1.08	1.15	2.18	1.75	1.8
FFO Payout Ratio	89.35%	21.6%	19.69%	18.7%	39.2%	69.88%	67.94%	37.57%	48.43%	49.2%
NOI Margin	71.45%	72.13%	73.19%	71.14%	70.78%	70.3%	69.76%	69.09%	69.99%	70.85%
Net Debt / EBITDA	11.53x	1.65x	2.25x	1.26x	2.56x	3.16x	5.60x	4.74x	4.81x	4.06x
Debt / Assets	44.59%	26.22%	24.75%	22.15%	22.93%	23.14%	24.43%	30.51%	32.75%	28.09%
Interest Coverage	-0.28x	-0.03x	0.49x	1.33x	1.21x	0.97x	0.17x	1.32x	0.94x	1.27x
Book Value / Share	24.93	26.31	31.7	28.84	24.95	24.15	22.11	23.75	22.92	24.78
Revenue Growth	-67.37%	-44.52%	0.85%	-3.63%	-6.67%	-12.65%	7.15%	11.67%	9.28%	5.91%

Revenue by Segment

	2013	2014	2015	2018	2019	2020	2021	2022	2023	2024
Real Estate, Other	-	-	-	-	-	-	-	-	-	1.53M
Real Estate, Other Growth	-	-	-	-	-	-	-	-	-	-
Management Service	-	-	-	4.39M	3.86M	3.65M	3.54M	2.57M	80K	-
Management Service Growth	-	-	-	-	-12.16%	-5.42%	-2.88%	-27.56%	-96.88%	-
Property Management	-	-	-	2.63M	2.42M	2.09M	1.95M	1.3M	48K	-
Property Management Growth	-	-	-	-	-7.81%	-13.55%	-6.74%	-33.35%	-96.31%	-
Asset Management	-	-	-	1.08M	1.07M	1.1M	1.13M	882K	32K	-
Asset Management Growth	-	-	-	-	-0.56%	2.23%	2.73%	-21.81%	-96.37%	-
Leasing and Other	-	-	-	684K	361K	456K	462K	383K	-	-
Leasing and Other Growth	-	-	-	-	-47.22%	26.32%	1.32%	-17.10%	-	-
Retail Site	-	-	274.19M	-	-	-	-	-	-	-
Retail Site Growth	-	-	-	-	-	-	-	-	-	-
Non-core	-	-	89.55M	-	-	-	-	-	-	-
Non-core Growth	-	-	-	-	-	-	-	-	-	-
Student Housing	59.48M	74.53M	86.3M	-	-	-	-	-	-	-
Student Housing Growth	-	25.31%	15.80%	-	-	-	-	-	-	-
Lodging	881.75M	926.43M	-	-	-	-	-	-	-	-
Lodging Growth	-	5.07%	-	-	-	-	-	-	-	-
Retail	289.08M	272.54M	-	-	-	-	-	-	-	-
Retail Growth	-	-5.72%	-	-	-	-	-	-	-	-
Non Core	91.53M	105.65M	-	-	-	-	-	-	-	-
Non Core Growth	-	15.43%	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

InvenTrust Properties Corp. (IVT) has a price-to-earnings (P/E) ratio of 150.9x. This suggests investors expect higher future growth.

Growth & Financials

InvenTrust Properties Corp. (IVT) reported $292.1M in revenue for fiscal year 2024. This represents a 78% decrease from $1.32B in 2011.

InvenTrust Properties Corp. (IVT) grew revenue by 5.9% over the past year. This is steady growth.

Yes, InvenTrust Properties Corp. (IVT) is profitable, generating $118.6M in net income for fiscal year 2024 (5.0% net margin).

Dividend & Returns

Yes, InvenTrust Properties Corp. (IVT) pays a dividend with a yield of 3.08%. This makes it attractive for income-focused investors.

InvenTrust Properties Corp. (IVT) has a return on equity (ROE) of 0.8%. This is below average, suggesting room for improvement.

Industry Metrics

InvenTrust Properties Corp. (IVT) generated Funds From Operations (FFO) of $241.5M in the trailing twelve months. FFO is the primary profitability metric for REITs.

InvenTrust Properties Corp. (IVT) offers a 3.08% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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