InvenTrust Properties Corp. reported strong full-year 2025 results driven by consistent Same Property Net Operating Income (NOI) growth and disciplined operational execution. The company demonstrated resilience and strategic positioning, leading to increased FFO and a planned dividend increase, while also expanding its property portfolio through acquisitions.
Full year Same Property NOI increased 5.3%, marking the second consecutive year of growth above 5%.
positiveNareit FFO per diluted share for the full year was $1.89, representing 6.2% year-over-year growth.
positiveCore FFO per diluted share for the full year was $1.83, an increase from $1.73 in the prior year.
positiveThe Board of Directors approved a 5% increase to the Company’s dividends starting in April 2026, with a new annual rate of $1.00 per share.
positiveExecuted 272 leases for the full year, totaling approximately 1,306,000 square feet of GLA, with a blended comparable lease spread of 13.3%.
positiveAcquired two properties in Q4 2025 for an aggregate purchase price of $109.0 million.
positiveLeased Occupancy as of December 31, 2025, was 96.7%.
neutralNet Income for the fourth quarter was $2.7 million, or $0.03 per diluted share, a significant decrease from $9.8 million, or $0.13 per diluted share, in the same period in 2024.
attentionNet Debt increased to $790.9 million as of December 31, 2025, from $653.0 million in the prior year.
attentionNet Debt-to-Adjusted EBITDA ratio increased to 4.5x from 4.1x in the prior year.
attentionAnchor Leased Occupancy decreased by 90 basis points on a sequential basis compared to the previous quarter.
attentionThe initial 2026 guidance for Net Income per diluted share is significantly lower ($0.16-$0.22) compared to the 2025 actual of $1.42.
attentionInterest expense, net for 2026 is projected to be approximately $44,000, an increase from $31,233 in 2025.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
InvenTrust delivered exceptional performance in 2025, reflecting strong operating fundamentals and disciplined execution.
Same property NOI increased 5.3%, marking our second consecutive year of growth above 5%, while NAREIT FFO reached $1.89 per share, representing 6.2% year-over-year growth.
Supported by one of the strongest balance sheets in the sector, we are well positioned to continue delivering value and building on this momentum in 2026.
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