InvenTrust Properties Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>InvenTrust Properties Corp. has filed its Q1 2024 10-Q report.</b>

AI Summary

InvenTrust Properties Corp. (IVT) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. InvenTrust Properties Corp. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. InvenTrust Properties Corp. is incorporated in Maryland. The company's business and mailing address is located in Downers Grove, IL.

Why It Matters

For investors and stakeholders tracking InvenTrust Properties Corp., this filing contains several important signals. This filing provides a quarterly update on the company's financial performance and operational status. Investors and analysts can use this report to assess the company's financial health and make informed investment decisions.

Risk Assessment

Risk Level: low — InvenTrust Properties Corp. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not contain unusual or high-risk information.

Analyst Insight

Monitor future 10-Q filings for trends in revenue, net income, and debt levels.

Key Numbers

• 2024-03-31 — Period of Report (Conformed period of report)
• 2024-05-01 — Filing Date (Date the report was filed)
• 2024-01-01 — Quarter Start Date (Start date of the reporting quarter)
• 2023-12-31 — Previous Year End (End date of the previous fiscal year)

Key Players & Entities

• InvenTrust Properties Corp. (company) — Filer and company name
• 2024-03-31 (date) — Period of report
• 2024-05-01 (date) — Filing date
• 0001307748 (company) — Central Index Key
• 6798 (industry_code) — Standard Industrial Classification for Real Estate Investment Trusts
• MD (location) — State of incorporation
• 3025 Highland Parkway Suite 350 (address) — Business and mailing address
• Downers Grove, IL (location) — City and State of business address

FAQ

Industry Context

InvenTrust Properties Corp. operates as a real estate investment trust (REIT), focusing on retail properties. This filing provides insights into its performance within the real estate sector.

Regulatory Implications

As a publicly traded company, InvenTrust Properties Corp. is subject to SEC regulations, including the requirement to file quarterly reports (10-Q) to ensure transparency and provide timely financial information to investors.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Analyze revenue streams and operating expenses for the quarter.
3. Assess any changes in the company's property portfolio or debt structure.

Key Dates

• 2024-03-31: End of Reporting Period — Marks the end of the fiscal quarter for which the report is filed.
• 2024-05-01: Filing Date — The date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing an update from the previous year's filings.

Key Financial Figures

• $0.001 — nge on which registered Common stock, $0.001 par value IVT New York Stock Exchange

Filing Documents

• ivt-20240331.htm (10-Q) — 1056KB
• ivtp0331202410-qexh311.htm (EX-31.1) — 10KB
• ivtp0331202410-qexh312.htm (EX-31.2) — 11KB
• ivtp0331202410-qexh321.htm (EX-32.1) — 6KB
• ivtp0331202410-qexh322.htm (EX-32.2) — 6KB
• ivt-20240331_g1.jpg (GRAPHIC) — 58KB
• 0001307748-24-000045.txt (&nbsp;) — 5282KB
• ivt-20240331.xsd (EX-101.SCH) — 40KB
• ivt-20240331_cal.xml (EX-101.CAL) — 59KB
• ivt-20240331_def.xml (EX-101.DEF) — 204KB
• ivt-20240331_lab.xml (EX-101.LAB) — 461KB
• ivt-20240331_pre.xml (EX-101.PRE) — 327KB
• ivt-20240331_htm.xml (XML) — 604KB

- Financial Information

Part I - Financial Information Page

Financial Statements

Item 1. Financial Statements Condensed Consolidated Balance Sheets as of March 3 1 , 202 4 (unaudited) and Decembe r 31, 20 23 1 Condensed Consolidated Statements of Operations and Comprehensive Income ( Loss) for the three months ended Ma rch 3 1 , 202 4 and 202 3 (unaudited) 2 Condensed Consolidated Statements of Equity for the three months ended March 3 1 , 202 4 and 202 3 (unaudited) 3 Condensed Consolidated Statements of Cash Flows for the three months ended M arch 3 1 , 202 4 and 2023 (unaudited) 4 Notes to Condensed Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 15

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 27

Controls and Procedures

Item 4. Controls and Procedures 28

- Other Information

Part II - Other Information

Legal Proceedings

Item 1. Legal Proceedings 28

Risk Factors

Item 1A. Risk Factors 28

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 29

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 29

Other Information

Item 5. Other Information 29

Exhibits

Item 6. Exhibits 29

Signatures

Signatures 30 -i- INVENTRUST PROPERTIES CORP. Condensed Consolidated Balance Sheets (in thousands, except share amounts) As of March 31, 2024 December 31, 2023 (unaudited) Assets Investment properties Land $ 698,532 $ 694,668 Building and other improvements 1,979,896 1,956,117 Construction in progress 7,202 5,889 Total 2,685,630 2,656,674 Less accumulated depreciation ( 476,541 ) ( 461,352 ) Net investment properties 2,209,089 2,195,322 Cash, cash equivalents and restricted cash 75,116 99,763 Intangible assets, net 110,920 114,485 Accounts and rents receivable 29,766 35,353 Deferred costs and other assets, net 51,477 42,408 Total assets $ 2,476,368 $ 2,487,331 Liabilities Debt, net $ 827,527 $ 814,568 Accounts payable and accrued expenses 28,764 44,583 Distributions payable 15,360 14,594 Intangible liabilities, net 29,730 30,344 Other liabilities 26,938 29,198 Total liabilities 928,319 933,287 Commitments and contingencies Stockholders' Equity Preferred stock, $ 0.001 par value, 40,000,000 shares authorized, none outstanding — — Common stock, $ 0.001 par value, 146,000,000 shares authorized, 67,874,528 shares issued and outstanding as of March 31, 2024 and 67,807,831 shares issued and outstanding as of December 31, 2023 68 68 Additional paid-in capital 5,471,191 5,468,728 Distributions in excess of accumulated net income ( 3,945,286 ) ( 3,932,826 ) Accumulated comprehensive income 22,076 18,074 Total stockholders' equity 1,548,049 1,554,044 Total liabilities and stockholders' equity $ 2,476,368 $ 2,487,331 See accompanying notes to the condensed consolidated financial statements. 1 INVENTRUST PROPERTIES CORP. Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) (in thousands, except share and per share amounts) Three months ended March 31 2024 2023 Income Lease income, net $ 66,493 $ 64,830 Other property income 305 295 Other fee income — 80 Total income 66,798 65,

View Full Filing

View this 10-Q filing on SEC EDGAR