InvenTrust Properties Corp (NYSE:IVT)

Q2 2026 Inventrust Properties Corp Earnings Call Transcript

Aug 4, 2026 / 02:00 PM GMT

Release Date Price: $34.08 (-2.29%)

Transcript 10-Q8-K

Key Points

Positve

Same property NOI growth accelerated to 4.1% in Q2 2026, driven by strong base rent increases and contractual rent bumps.
Year-to-date NAREIT FFO per share increased 11% and core FFO per share increased approximately 9%, reflecting robust earnings growth.
Executed 76 leases covering approximately 464,000 square feet with strong comparable blended lease spreads of 8.5%, including new lease spreads of 18.7%.
Expanded into attractive emerging Sunbelt markets such as Charleston, Greensboro, and Knoxville, with a strong acquisition pipeline and $290 million invested year-to-date.
Maintained a strong balance sheet with net leverage at 31.9% and total liquidity of $489 million, providing flexibility for future investments.
Tenant retention remains high at 88% year-to-date, and the signed-not-open pipeline is expected to convert into occupancy and cash flow, supporting future growth.
Reaffirmed full-year guidance for same property NOI growth and core FFO, while raising NAREIT FFO guidance due to non-cash revenue from acquisitions.

Negative

Leased occupancy declined 20 basis points sequentially to 96.2%, primarily due to the loss of the former Painted Tree anchor space.
Anchor lease occupancy decreased 40 basis points from the first quarter, reflecting temporary occupancy impacts from vacant big-box spaces.
Net debt to adjusted EBITDA increased to 5.3 times on a quarterly annualized basis, up from approximately 4.5 times at year-end, though expected to decline.
Same property NOI growth is expected to be uneven in Q3 due to timing of operating expenses, with reacceleration only expected in Q4.
The acquisition market remains highly competitive, with pricing compressing and requiring careful selection to maintain targeted returns.
Restaurant exposure (21% of portfolio) remains a higher-turnover category, with ongoing monitoring needed for undercapitalized or poor-performing operators.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

IVT.N - InvenTrust Properties Corp.
Q2 2026 Inventrust Properties Corp Earnings Call
Aug 04, 2026 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for standing by and welcome to Inventrust's second quarter 2026 earnings conference call. My name is Ellen and I will be your conference call operator today. Before we begin, I would like to remind listeners that today's presentation is being recorded and a replay will be available on the investors section of the company's website at inventrustproperties.com. After today's prepared remarks, we will host a question and. Answer session. If you would like to ask a question, please press star 1 to raise your hand. To withdraw your question, press star 1 again. I would now like to turn the call over to Mr. Dan Lombardo, Vice President of Investor Relations. Please go ahead, sir.

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