InvenTrust Properties Corp.
InvenTrust Properties owns 76 multi-tenant retail properties (including 18 JV assets), comprising 12.7 million square feet of retail space in 24 states. In addition, its student housing business, University House Communities, has 16 properties (including 1 JV asset) with 9,600 beds. InvenTrust also owns 5.8 million square feet of non-core, office and industrial buildings.
REIT Name: InvenTrust Properties Corp
IPO Date: August 2005
Total Equity Raised: $8.5 billion
Property Focus: Diversified
Total Properties: 89
Share Redemption Plan: Suspended
Website: www .inventrustproperties.com
Balance Sheet (as of 12/31/16) (in thousands except share data)
Total Assets $2,786,754
Total Liabilities $837,226
Shareholders' Equity $1,949,528
Shares Outstanding 773,304,997
Operating Data (01/01/16 through 12/31/16)
Total Revenues $263,871
Total Expenses $298,452
Net Income (Loss) $252,722
Net Income (Loss) Per Share $0.29
Cash Provided by Operations $120,351
Dividends Declared $83,633
Dividends Per Share $0.09875
Funds From Operations (FFO) $145,188
FFO Per Share $0.170
InvenTrust Properties Corp. (f/k/a Inland American Real Estate Trust).
Launched IPO for up to $5 billion of common stock in August 2005 and raised approximately $4.8 billion in this offering. Began second public offering on August 1, 2007, and closed this offering on April 6, 2009, with approximately $8.3 billion raised in both offerings. As of December 31, 2016, wholly owns 71 multi-tenant retail properties comprising 12.2 million square feet of retail space and one non-core property. Also owns a 55% interest in a joint venture that owns 15 retail properties comprised of 2,977,768sf. All properties located in U.S. As of December 31, average occupancy of 86 retail properties was 93%. Total borrowings were 26% of total assets at end of December. FPO per share for 2016 was $0.170, down 41 % from $0.287 for 2015. Dividends-to-FPO ratio for 2016 was 58%. MFPO per share for 2016 was $0.192, down 35% from $0.296 For 2015. Dividends-to-MFPO ratio for 2016 was 51 %. Lower cash flow is due to asset dispositions in 2016. Sameproperty NOI unchanged from 2015 to 2016 for wholly-owned properties. Purchased eight retail properties in 2016 for $465 million, consistent with plan to become a pure-play multi-tenant retail REIT. Approximately 9.4%, 13.0% and 15.6% of leases expire in 2017, 2018 and 2019, respectively, for wholly-owned properties based on annualized base rents. Purchased three more retail properties in first quarter of 2017 for $290 million. Repurchased $240 million of shares in 2016 through a "Dutch Auction" tender offer that closed in December. Raised annual dividend rate from $0.0675 to $0.0695 in March 2017.
Data referenced from the Direct Investments Spectrum