InvenTrust Properties Corp. Reports 2025 Third Quarter Results
InvenTrust Properties Corp., a premier Sun Belt, multi-tenant essential retail REIT, has released its financial and operating results for the third quarter ended September 30, 2025. The company, which focuses on owning, leasing, redeveloping, acquiring, and managing grocery-anchored neighborhood and community centers, reported significant improvements in its financial performance compared to the same period last year.
Financial Highlights
For the three months ended September 30, 2025, InvenTrust reported a net income of $6.0 million, or $0.08 per diluted share, compared to a net loss of $0.5 million, or $0.01 per diluted share, for the same period in 2024. The company also reported:
- Nareit FFO of $0.49 per diluted share, up from $0.45 per diluted share in Q3 2024.
- Core FFO of $0.47 per diluted share, up from $0.44 per diluted share in Q3 2024.
- Same Property Net Operating Income (NOI) growth of 6.4%.
- Leased Occupancy as of September 30, 2025, was 97.2%.
Business and Operational Highlights
InvenTrust executed 56 leases totaling approximately 409,000 square feet of Gross Leasable Area (GLA), with 360,000 square feet executed at a blended comparable lease spread of 11.5%. The company also acquired four properties totaling approximately 791,000 square feet for an aggregate acquisition price of $250.2 million. These acquisitions include:
- The Marketplace at Encino Park in San Antonio, Texas.
- West Broad Marketplace in Richmond, Virginia.
- Asheville Market in Asheville, North Carolina.
- Rea Farms in Charlotte, North Carolina.
Strategic Initiatives and Corporate Developments
InvenTrust amended its $400.0 million unsecured term loan agreement, extending the company's overall debt weighted average maturity to 4.7 years. Additionally, the company executed four forward-starting interest rate swaps in tandem with the term loan amendment. The company also declared a quarterly cash distribution of $0.2377 per share, paid on October 15, 2025.
Management's Perspective
DJ Busch, President and CEO of InvenTrust, commented, "2025 has been a pivotal and productive year for InvenTrust. We executed on multiple fronts — completing the sale of a California portfolio, extending our debt maturities through a successful term-loan recast, and deploying more than $350 million into high-quality Sun Belt assets — all while delivering strong operating performance. These actions underscore our disciplined approach to capital allocation and our continued commitment to driving sustainable growth in free cash flow."
Future Outlook
InvenTrust has updated its 2025 guidance, projecting net income per diluted share between $1.40 and $1.44, Nareit FFO per diluted share between $1.85 and $1.89, and Core FFO per diluted share between $1.80 and $1.83. The company also expects Same Property NOI growth between 4.75% and 5.25%.
Original SEC Filing: InvenTrust Properties Corp. [ IVT ] - 8-K - Oct. 28, 2025