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InvenTrust Properties Corp. reports developments for a Sun Belt, multi-tenant essential retail REIT focused on grocery-anchored neighborhood and community centers and power centers that often include a grocery component. The company owns, leases, redevelops, acquires and manages retail properties in a single multi-tenant retail segment.
Recurring updates include quarterly and annual operating results, portfolio performance, property acquisitions and dispositions, cash distributions, distribution tax reporting, investor presentations and capital-structure matters tied to its retail real estate platform.
InvenTrust Properties Corp. (NYSE: IVT) announced preliminary results of its modified “Dutch Auction” self-tender offer, which expired on November 8, 2021. Approximately 9.2 million shares were tendered at a final price of $25.00 per share. The Company expects to purchase about 4.0 million shares for a total cost of approximately $100 million, representing 5.6% of shares outstanding as of the expiration date. Due to oversubscription, only about 42% of properly tendered shares will be accepted on a pro rata basis, excluding odd lot holders, who will be prioritized.
InvenTrust Properties Corp. (NYSE: IVT) reported a net income of $4.0 million ($0.06/share) for Q3 2021, up from $1.7 million ($0.02/share) in Q3 2020. The Funds from Operations (FFO) was $26.3 million ($0.37/share), compared to $25.5 million ($0.35/share) last year. Pro Rata Same Property Net Operating Income (NOI) increased by 8.2% for Q3 2021. The company boasts a leased occupancy of 93.5% and has amended credit facilities worth $750 million. A dividend of $0.1955 per share was paid on October 7, 2021. A "Dutch Auction" tender offer of up to $100 million shares commenced on October 12, 2021.
InvenTrust Properties Corp. (NYSE: IVT) will announce its third quarter 2021 financial results on November 1, 2021, after market close. The earnings release will be accessible on the Company’s Investor Relations website. An earnings conference call is scheduled for November 2, 2021, at 11:00 a.m. ET, where executives will discuss financial outcomes and business developments. A webcast archive will also be available on the website.
InvenTrust Properties Corp. (NYSE: IVT) announced the commencement of its trading on the NYSE under the symbol "IVT". The company celebrated this milestone with a bell ringing ceremony at the exchange. CEO Daniel Busch expressed pride in the team and optimism about the company’s strong balance sheet, which is expected to facilitate self-funded growth over the next few years. InvenTrust, specializing in grocery-anchored retail properties across the Sun Belt, manages 65 retail properties totaling 10.8 million square feet as of June 30, 2021.