InvenTrust Properties Reports $6.8 Million Net Income and $73.8 Million Revenue in Q1 2025

InvenTrust Properties Corp. reported a net income of $6.8 million for the first quarter of 2025, a significant increase from $2.9 million in the same period of 2024. This translates to earnings per share of $0.09, up from $0.04 year-over-year. The company’s total revenue rose to $73.8 million, compared to $66.8 million in the prior year, driven primarily by a $6.9 million increase in lease income, which reached $73.4 million. The growth in lease income was attributed to acquisitions made in the previous year, which contributed $6.3 million, alongside improved occupancy rates and increased annual base rent per square foot.

In terms of operational metrics, InvenTrust's portfolio expanded to 68 properties with a gross leasable area of approximately 10.97 million square feet as of March 31, 2025, compared to 63 properties and 10.39 million square feet a year earlier. The company reported an economic occupancy rate of 95.4%, up from 93.4% in the previous year, and a leased occupancy rate of 97.3%, compared to 96.3% in 2024. These improvements reflect the company's strategic focus on grocery-anchored and necessity-based retail centers in the Sun Belt region, which are expected to benefit from favorable demographic trends.

Total operating expenses for the quarter increased to $59.3 million from $55.1 million, primarily due to higher depreciation and amortization costs, which rose by $2.4 million. The company also experienced increased property operating expenses and general administrative costs. Despite these rising costs, the net operating income (NOI) improved to $51.9 million, up from $45.8 million, indicating effective management of property operations.

InvenTrust's financial position remains stable, with total assets of $2.61 billion as of March 31, 2025, slightly down from $2.64 billion at the end of 2024. The company’s total liabilities decreased to $860.7 million from $875.9 million, reflecting a reduction in accounts payable and accrued expenses. The company continues to maintain a strong liquidity position, with $84.6 million in cash and cash equivalents. Looking ahead, InvenTrust plans to leverage its existing portfolio and pursue additional acquisitions to enhance its market presence, particularly in high-growth areas, while managing its capital structure to support ongoing operations and distributions to shareholders.