InvenTrust Properties Corp. Files Q2 2024 10-Q

TL;DR

IVT Q2 10-Q filed. Financials look steady.

AI Summary

InvenTrust Properties Corp. filed its 10-Q for the period ending June 30, 2024. The company, a real estate investment trust, reported financial results for the second quarter of 2024. Key financial data and operational details for the period are disclosed in this filing.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for InvenTrust Properties Corp., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated.

Key Players & Entities

• InvenTrust Properties Corp. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240731 (date) — Filing date
• 3025 HIGHLAND PARKWAY SUITE 350 (address) — Company's business and mailing address
• DOWNERS GROVE (location) — City of company's address
• IL (location) — State of company's address
• 60515 (postal_code) — Zip code of company's address

FAQ

Key Financial Figures

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

Filing Documents

• ivt-20240630.htm (10-Q) — 1266KB
• ivtp0630202410-qexh311.htm (EX-31.1) — 10KB
• ivtp0630202410-qexh312.htm (EX-31.2) — 11KB
• ivtp0630202410-qexh321.htm (EX-32.1) — 6KB
• ivtp0630202410-qexh322.htm (EX-32.2) — 6KB
• ivt-20240630_g1.jpg (GRAPHIC) — 58KB
• 0001307748-24-000085.txt ( ) — 5889KB
• ivt-20240630.xsd (EX-101.SCH) — 43KB
• ivt-20240630_cal.xml (EX-101.CAL) — 62KB
• ivt-20240630_def.xml (EX-101.DEF) — 200KB
• ivt-20240630_lab.xml (EX-101.LAB) — 480KB
• ivt-20240630_pre.xml (EX-101.PRE) — 333KB
• ivt-20240630_htm.xml (XML) — 732KB

- Financial Information

Part I - Financial Information Page

Financial Statements

Item 1. Financial Statements Condensed Consolidated Balance Sheets as of June 3 0 , 2024 (unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations and Comprehensive Income for the three and six months ended June 30, 2024 and 2023 (unaudited) 2 Condensed Consolidated Statements of Equity for the three and s ix months ended June 3 0 , 2024 and 2023 (unaudited) 3 Condensed Consolidated Statements of Cash Flows for the six months ended June 30 , 2024 and 2023 (unaudited) 5 Notes to Condensed Consolidated Financial Statements 7

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 17

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 31

Controls and Procedures

Item 4. Controls and Procedures 32

- Other Information

Part II - Other Information

Legal Proceedings

Item 1. Legal Proceedings 32

Risk Factors

Item 1A. Risk Factors 32

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 32

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 32

Other Information

Item 5. Other Information 32

Exhibits

Item 6. Exhibits 33

Signatures

Signatures 34 -i- INVENTRUST PROPERTIES CORP. Condensed Consolidated Balance Sheets (in thousands, except share amounts) As of June 30, 2024 December 31, 2023 (unaudited) Assets Investment properties Land $ 705,798 $ 694,668 Building and other improvements 2,013,451 1,956,117 Construction in progress 9,511 5,889 Total 2,728,760 2,656,674 Less accumulated depreciation ( 495,211 ) ( 461,352 ) Net investment properties 2,233,549 2,195,322 Cash, cash equivalents and restricted cash 37,129 99,763 Intangible assets, net 111,647 114,485 Accounts and rents receivable 30,861 35,353 Deferred costs and other assets, net 46,889 42,408 Total assets $ 2,460,075 $ 2,487,331 Liabilities Debt, net $ 812,217 $ 814,568 Accounts payable and accrued expenses 39,457 44,583 Distributions payable 15,370 14,594 Intangible liabilities, net 30,424 30,344 Other liabilities 27,034 29,198 Total liabilities 924,502 933,287 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, 67,917,128 shares issued and outstanding as of June 30, 2024 and 67,807,831 shares issued and outstanding as of December 31, 2023 68 68 Additional paid-in capital 5,473,515 5,468,728 Distributions in excess of accumulated net income ( 3,959,158 ) ( 3,932,826 ) Accumulated comprehensive income 21,148 18,074 Total stockholders' equity 1,535,573 1,554,044 Total liabilities and stockholders' equity $ 2,460,075 $ 2,487,331 See accompanying notes to the condensed consolidated financial statements. 1 INVENTRUST PROPERTIES CORP. Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) (in thousands, except share and per share amounts) Three months ended June 30 Six months ended June 30 2024 2023 2024 2023 Income Lease income, net $ 67,056 $ 64,268 $ 133,549 $ 129,098 Other property income 367 419 67

View Full Filing

View this 10-Q filing on SEC EDGAR