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InvenTrust Properties Corp. (IVT-0.53%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports that InvenTrust Properties Corp. operates as a real estate investment trust (REIT) focused on owning and managing a portfolio of multi-tenant retail properties located in the Sun Belt region.
As of December 31, 2024, the company owned 68 retail properties with a total gross leasable area of approximately 11.0 million square feet. The company's portfolio had an economic occupancy rate of 95.3% and a leased occupancy rate of 97.4%.
The company reported total income of $273.974 million for the year ended December 31, 2024, compared to $258.676 million in the prior year. Lease income, net, increased to $272.440 million from $257.146 million in the previous year.
Operating expenses totaled $226.974 million for the year, with depreciation and amortization expenses accounting for $113.948 million.
InvenTrust reported a net income of $13.658 million for the year ended December 31, 2024, compared to $5.269 million in the previous year.
The company completed acquisitions of seven retail properties during the year, with a total gross acquisition price of $282.070 million. Additionally, it disposed of one retail property and an outparcel for a total gross disposition price of $68.552 million.
InvenTrust's debt as of December 31, 2024, included $93.380 million in mortgages payable and $650.000 million in unsecured term loans and senior notes.
The company declared cash distributions totaling $65.7 million during the year, with a distribution per share of $0.9052.
InvenTrust's stock is traded on the New York Stock Exchange under the ticker symbol 'IVT'. As of February 6, 2025, there were 77,460,276 shares of common stock outstanding.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the InvenTrust Properties Corp. annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.