Inland Real Estate Income Trust, Inc. reported its financial results for the first quarter of 2026, revealing a total income of $38.9 million, a slight increase from $38.8 million in the same period last year. The company experienced a net loss of $2.2 million, an improvement from the $2.6 million loss reported in the first quarter of 2025. The net loss per common share was $0.06, compared to $0.07 in the prior year. Total expenses for the quarter were $31.3 million, down from $31.7 million in the previous year, primarily due to a reduction in general and administrative expenses.
The company’s investment properties, which include 52 retail locations across 24 states, had a net value of $1.1 billion as of March 31, 2026, reflecting a slight decrease from $1.14 billion at the end of 2025. The physical and economic occupancy rates of the portfolio improved to 92.4% and 92.6%, respectively, compared to 92.0% and 92.2% at the end of the previous fiscal year. The average annualized base rent per square foot was reported at $20.19, with grocery-anchored properties representing 87% of the annualized base rent.
In terms of strategic developments, the company entered into a purchase and sale agreement on March 12, 2026, for the sale of The Village at Burlington Creek property for $34 million. This property is expected to be classified as held for sale upon the buyer's completion of due diligence. The proceeds from this sale are anticipated to be used to repay outstanding borrowings under the company's credit facility. Additionally, the company reinstated its distribution reinvestment plan and share repurchase program effective February 1, 2026, after a suspension that began in October 2024.
Operationally, the company reported a decrease in cash flows from operating activities, totaling $10.8 million for the quarter, down from $11.8 million in the prior year. Cash used in investing activities also decreased significantly to $2.9 million from $5.2 million, attributed to lower capital expenditures. The company’s total debt stood at $840 million, with a weighted average interest rate of 4.66%. The company remains in compliance with all financial covenants related to its credit facility.
Looking ahead, Inland Real Estate Income Trust, Inc. is focused on enhancing its portfolio and capitalizing on market opportunities while managing the impacts of inflation and interest rate volatility. The company plans to invest approximately $14.5 million in capital expenditures and tenant improvements for the remainder of 2026. Management continues to evaluate strategic alternatives to increase the company’s assets and cash flow, while also addressing the challenges posed by the current economic environment.
About Inland Real Estate Income Trust, Inc.
Inland Real Estate Income Trust, Inc. is a Maryland-based REIT focused on acquiring and managing grocery-anchored retail properties across the U.S. Its portfolio includes shopping centers with high occupancy, primarily serving regional markets. Managed externally by affiliates of its sponsor, the company generates income from leasing retail spaces, with a strategic review underway for potential sale or restructuring, emphasizing stability and long-term value creation.
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