InvenTrust Properties Corp. (“InvenTrust” or the “Company”)
(NYSE: IVT) today reported financial and operating results for the
period ended March 31, 2023. For the three months ended March 31,
2023 and 2022, Net Income was $1.1 million, or $0.02 per diluted
share, compared to Net Income of $9.5 million, or $0.14 per diluted
share, respectively.
First Quarter 2023
Highlights:
- NAREIT FFO of $0.41 per diluted share
- Core FFO of $0.40 per diluted share
- Same Property Net Operating Income (“NOI”) growth of 3.2%
- Leased Occupancy as of March 31, 2023 of 96.1%
- Executed 64 leases totaling approximately 254,000 square feet
of GLA, of which 142,000 square feet was executed at a blended
comparable lease spread of 7.0%
- Acquired the four remaining retail properties from its
unconsolidated joint venture, IAGM, for an aggregate purchase price
of $222.3 million, assuming aggregate mortgage debt of $92.5
million
“InvenTrust’s Sun Belt concentrated, necessity-based portfolio
continues to produce impressive results,” stated Daniel (DJ) Busch,
President and CEO of InvenTrust. “When we evaluate the continuing
tailwinds in our sector and positive elements affecting our
portfolio, the momentum we are building as a company is clear. Our
simple and focused portfolio is well-positioned to produce strong
sector leading internal growth and with our balance sheet capacity,
we can grow through acquisitions without the immediate need for
external funding should the capital markets remain in flux.”
NET INCOME
- Net Income for the three months ended March 31, 2023 was $1.1
million, or $0.02 per diluted share, compared to Net Income of $9.5
million, or $0.14 per diluted share, for the same period in
2022.
NAREIT FFO
- NAREIT FFO for the three months ended March 31, 2023 was $28.0
million, or $0.41 per diluted share, compared to $31.7 million, or
$0.47 per diluted share, for the same period in 2022.
CORE FFO
- Core FFO for the three months ended March 31, 2023 was $27.4
million, or $0.40 per diluted share, compared to $29.0 million, or
$0.43 per diluted share, for the same period in 2022.
SAME PROPERTY NOI
- Same Property NOI for the three months ended March 31, 2023 was
$35.8 million, a 3.2% increase, compared to the same period in
2022.
DIVIDEND
- For the quarter ending March 31, 2023, the Board of Directors
declared a quarterly cash distribution of $0.2155 per share, paid
on April 14, 2023.
PORTFOLIO PERFORMANCE & INVESTMENT ACTIVITY
- As of March 31, 2023, the Company’s Leased Occupancy was 96.1%.
- Total Anchor Leased Occupancy, which includes spaces greater
than or equal to 10,000 square feet, was 98.8% and Small Shop
Leased Occupancy was 91.4%. Anchor and Small Shop Leased Occupancy
both increased 10 basis points on a sequential basis compared to
the previous quarter.
- Leased to Economic Occupancy spread of 210 basis points, which
equates to approximately $4.2 million of base rent on an annualized
basis.
- Blended re-leasing spreads for comparable new and renewal
leases signed in the first quarter were 7.0%.
- Annualized Base Rent PSF (“ABR”) as of March 31, 2023 was
$19.12, an increase of 2.6% compared to the same period in 2022.
Anchor Tenant ABR PSF was $12.37 and Small Shop ABR PSF was $32.20
for the first quarter.
- Acquired the four remaining retail properties on January 18,
2023 from its unconsolidated joint venture, IAGM, for an aggregate
purchase price of $222.3 million by acquiring 100% of the
membership interests in each of IAGM’s wholly owned subsidiaries.
The Company assumed aggregate mortgage debt of $92.5 million and
two related interest rate swaps with an aggregate notional amount
of $75.0 million. The remaining balance of the transaction was
funded with available liquidity.
LIQUIDITY AND CAPITAL STRUCTURE
- InvenTrust had $436.0 million of total liquidity, as of March
31, 2023, comprised of $86.0 million of Pro Rata Cash and $350.0
million of availability under its Revolving Credit Facility. As of
March 31, 2023, net assets of IAGM were $28.6 million, inclusive of
cash and cash equivalents of $30.7 million.
- InvenTrust has $92.5 million of debt maturing in 2023 and $15.7
million of debt maturing in 2024, as of March 31, 2023.
- As of March 31, 2023, the Company's weighted average interest
rate on its debt was 4.0% and the weighted average remaining term
was 4.6 years.
SUBSEQUENT ACTIVITY
- Effective April 3, 2023, the Company’s variable rate on $100.0
million of term loans was swapped to a fixed rate of 3.69%,
achieving an all-in interest rate of 4.99%. In tandem with other
interest rate swaps, the entirety of the Company's variable rate
term loans were swapped to fixed rates through the respective
maturity dates.
2023 GUIDANCE
InvenTrust has updated its 2023 guidance, as summarized in the
table below.
(Unaudited, dollars in thousands, except
per share amounts)
Current
Previous
Net Income per diluted share (1)
$0.06
—
$0.11
$0.23
—
$0.28
NAREIT FFO per diluted share (2)
$1.64
—
$1.69
$1.64
—
$1.69
Core FFO per diluted share
$1.59
—
$1.64
$1.59
—
$1.64
Same Property NOI (“SPNOI”) Growth
3.50 %
—
5.00%
3.50 %
—
5.00%
General and administrative
$31,250
—
$32,750
$31,250
—
$32,750
Interest expense, net (3)
$34,500
—
$35,500
$34,500
—
$35,500
Adjustments for uncollectibility (4)
50 bps
—
150 bps
50 bps
—
150 bps
Net investment activity (5)
~ $150,000
~ $150,000
The Company’s 2023 Guidance contemplates the following assumptions:
(1)
Net Income per diluted share excludes
effects from potential acquisitions or dispositions.
(2)
NAREIT FFO per diluted share:
- Excludes effects from potential acquisitions or
dispositions.
- Excludes any items that impact NAREIT FFO comparability,
including loss on debt extinguishment, non-routine or one-time
items of which, in our judgement, are not pertinent to measuring
on-going operating performance.
- Includes an expectation that some tenants will move from the
cash basis of accounting to the accrual basis of accounting, which
can result in volatility in straight-line rental income
adjustments.
(3)
Interest expense, net, excludes
amortization of debt discounts and financing costs, and expected
interest income of $1.5 million to $2.5 million.
(4)
Adjustments for uncollectibility are
reflected as basis points of expected total revenue.
(5)
Net investment activity represents
anticipated acquisition activity less disposition activity.
In addition to the foregoing assumptions, the Company's 2023
Guidance incorporates a number of other assumptions that are
subject to change and may be outside the control of the Company.
For example, the Company’s guidance is inclusive of prior period
rent that the Company anticipates collecting. If actual results
vary from these assumptions, the Company's expectations may change.
There can be no assurances that InvenTrust will achieve these
results.
The following table provides a reconciliation of the range of
the Company's 2023 estimated net income per diluted share to
estimated NAREIT FFO and Core FFO per diluted share:
(Unaudited)
Low End
High End
Net income
$
0.06
$
0.11
Depreciation and amortization related to
investment properties
1.58
1.58
NAREIT FFO Applicable to Common Shares and
Dilutive Securities
1.64
1.69
Amortization of market-lease intangibles
and inducements, net
(0.06
)
(0.06
)
Straight-line rent adjustments, net
(0.04
)
(0.04
)
Adjusting items, net (a)
0.05
0.05
Core FFO Applicable to Common Shares and
Dilutive Securities
$
1.59
$
1.64
(a)
Adjusting items, net, are primarily
amortization of debt discounts and financing costs, depreciation
and amortization of corporate assets, and non-operating income and
expenses, net, which includes items which are not pertinent to
measuring on-going operating performance, such as basis difference
recognition arising from acquiring the four remaining properties of
our joint venture, and miscellaneous and settlement income.
The Company does not provide a reconciliation of forward-looking
SPNOI to forward-looking GAAP Net Income within this press release
because the Company is unable, without making unreasonable efforts,
to provide a meaningful or reasonably accurate calculation or
estimation of certain reconciling items which could be significant
to our results.
CONFERENCE CALL INFORMATION
Date:
Friday, April 28, 2023
Time:
10:00 a.m. ET
Dial-in:
(833) 470-1428 / Access Code: 247294
Webcast:
https://events.q4inc.com/attendee/325130079
Replay Webcast Archive:
https://www.inventrustproperties.com/investor-relations/ A webcast
replay will be available shortly after the conclusion of the
presentation using the webcast link above.
NON-GAAP FINANCIAL MEASURES
This Earnings Release includes certain non-GAAP financial
measures and other terms that management believes are helpful in
understanding our business. These measures should not be considered
as alternatives to, or more meaningful than, net income (calculated
in accordance with GAAP) or other GAAP financial measures, as an
indicator of financial performance and are not alternatives to, or
more meaningful than, cash flow from operating activities
(calculated in accordance with GAAP) as a measure of liquidity.
Non-GAAP performance measures have limitations as they do not
include all items of income and expense that affect operations, and
accordingly, should always be considered as supplemental financial
results to those calculated in accordance with GAAP. The Company's
computation of these non-GAAP performance measures may differ in
certain respects from the methodology utilized by other REITs and,
therefore, may not be comparable to similarly titled measures
presented by such other REITs. Investors are cautioned that items
excluded from these non-GAAP performance measures are relevant to
understanding and addressing financial performance. A
reconciliation of our non-GAAP measures to the most directly
comparable GAAP financials measures are included herein.
SAME PROPERTY NOI or SPNOI
Information provided on a same property basis includes the
results of properties that were owned and operated for the entirety
of both periods presented. NOI excludes general and administrative
expenses, depreciation and amortization, provision for asset
impairment, other income and expense, net, gains (losses) from
sales of properties, gains (losses) on extinguishment of debt,
interest expense, net, equity in earnings (losses) from
unconsolidated entities, lease termination income and expense, and
GAAP rent adjustments such as straight-line rent adjustments,
amortization of market lease intangibles, and amortization of lease
incentives ("GAAP Rent Adjustments").
NAREIT FUNDS FROM OPERATIONS (NAREIT FFO) and CORE
FFO
Our non-GAAP measure of NAREIT Funds from Operations ("NAREIT
FFO"), based on the National Association of Real Estate Investment
Trusts ("NAREIT") definition, is net income (or loss) in accordance
with GAAP, excluding gains (or losses) resulting from dispositions
of properties, plus depreciation and amortization and impairment
charges on depreciable real property. Adjustments for our
unconsolidated joint venture is calculated to reflect our
proportionate share of the joint venture's NAREIT FFO on the same
basis. Core Funds From Operations (“Core FFO”) is an additional
supplemental non-GAAP financial measure of our operating
performance. In particular, Core FFO provides an additional measure
to compare the operating performance of different REITs without
having to account for certain remaining amortization assumptions
within NAREIT FFO and other unique revenue and expense items which
some may consider not pertinent to measuring a particular company’s
on-going operating performance.
ADJUSTED EBITDA
Our non-GAAP measure of Adjusted EBITDA excludes gains (or
losses) resulting from debt extinguishments, straight-line rent
adjustments, amortization of above and below market leases and
lease inducements, and other unique revenue and expense items which
some may consider not pertinent to measuring a particular company’s
on-going operating performance. Adjustments for our unconsolidated
joint venture is calculated to reflect our proportionate share of
the joint venture's Adjusted EBITDA on the same basis.
NET DEBT-TO-ADJUSTED EBITDA
Net Debt-to-Adjusted EBITDA is Net Debt divided by Adjusted
EBITDA on a trailing twelve month basis.
PRO RATA
Where appropriate, the Company has included the results from its
ownership share of its joint venture properties when combined with
the Company's wholly owned properties, defined as "Pro Rata," with
the exception of property and lease count, for the three months
ended March 31, 2022 and as of December 31, 2022. As of March 31,
2023, as a result of the Company’s acquisition of the remaining
IAGM properties, net assets of IAGM were $28.6 million, inclusive
of cash and cash equivalents of $30.7 million, which has been
included as part of Pro Rata Cash.
FINANCIAL STATEMENTS
Condensed Consolidated Balance
Sheets
In thousands, except share
amounts
As of March 31
As of December 31
2023
2022
Assets
(unaudited)
Investment properties
Land
$
691,401
$
650,764
Building and other improvements
1,930,980
1,825,893
Construction in progress
7,046
5,005
Total
2,629,427
2,481,662
Less accumulated depreciation
(407,309
)
(389,361
)
Net investment properties
2,222,118
2,092,301
Cash, cash equivalents and restricted
cash
69,291
137,762
Investment in unconsolidated entities
15,706
56,131
Intangible assets, net
138,210
101,167
Accounts and rents receivable
30,306
34,528
Deferred costs and other assets, net
55,823
51,145
Total assets
$
2,531,454
$
2,473,034
Liabilities
Debt, net
$
832,986
$
754,551
Accounts payable and accrued expenses
29,474
42,792
Distributions payable
14,548
13,837
Intangible liabilities, net
34,491
29,658
Other liabilities
33,550
28,287
Total liabilities
945,049
869,125
Commitments and contingencies
Stockholders' Equity
Preferred stock, $0.001 par value,
40,000,000 shares authorized, none outstanding
—
—
Common stock, $0.001 par value,
146,000,000 shares authorized, 67,508,641 shares
issued and outstanding as of March 31,
2023 and 67,472,553 shares issued and
outstanding as of December 31, 2022
68
67
Additional paid-in capital
5,459,087
5,456,968
Distributions in excess of accumulated net
income
(3,893,262
)
(3,879,847
)
Accumulated comprehensive income
20,512
26,721
Total stockholders' equity
1,586,405
1,603,909
Total liabilities and stockholders'
equity
$
2,531,454
$
2,473,034
Condensed Consolidated Statements of
Operations and Comprehensive (Loss) Income
In thousands, except share and per share amounts, unaudited
Three Months Ended March 31
2023
2022
Income
Lease income, net
$
64,830
$
57,768
Other property income
295
264
Other fee income
80
754
Total income
65,205
58,786
Operating expenses
Depreciation and amortization
26,758
22,829
Property operating
10,230
8,285
Real estate taxes
9,628
8,043
General and administrative
7,731
7,887
Total operating expenses
54,347
47,044
Other (expense) income
Interest expense, net
(9,509
)
(4,809
)
Loss on extinguishment of debt
—
(96
)
Equity in (losses) earnings of
unconsolidated entities
(663
)
2,716
Other income and expense, net
447
(52
)
Total other (expense) income, net
(9,725
)
(2,241
)
Net income
$
1,133
$
9,501
Weighted-average common shares outstanding
- basic
67,508,641
67,354,717
Weighted-average common shares outstanding
- diluted
67,654,524
67,576,038
Net income per common share - basic
$
0.02
$
0.14
Net income per common share - diluted
$
0.02
$
0.14
Distributions declared per common share
outstanding
$
0.22
$
0.21
Distributions paid per common share
outstanding
$
0.20
$
0.20
Comprehensive (loss) income
Net income
$
1,133
$
9,501
Unrealized (loss) gain on derivatives
(3,317
)
15,406
Reclassification (to) from net income
(2,892
)
1,025
Comprehensive (loss) income
$
(5,076
)
$
25,932
Reconciliation of Non-GAAP Measures In thousands
Same Property NOI
Three Months Ended March 31
2023
2022
Income
Minimum base rent
$
33,879
$
32,124
Real estate tax recoveries
6,747
6,403
Common area maintenance, insurance, and
other recoveries
5,875
5,627
Ground rent income
3,470
3,343
Short-term and other lease income
1,274
1,054
Provision for uncollectible billed rent
and recoveries
(282
)
(230
)
Reversal of uncollectible billed rent and
recoveries
538
841
Other property income
255
267
Total income
51,756
49,429
Operating Expenses
Property operating
8,337
7,563
Real estate taxes
7,580
7,141
Total operating expenses
15,917
14,704
Same Property NOI
$
35,839
$
34,725
Reconciliation of Net Income to Same
Property NOI
Three Months Ended March 31
2023
2022
Net income
$
1,133
$
9,501
Adjustments to reconcile to non-GAAP
metrics:
Other income and expense, net
(447
)
52
Equity in losses (earnings) of
unconsolidated entities
663
(2,716
)
Interest expense, net
9,509
4,809
Loss on extinguishment of debt
—
96
Depreciation and amortization
26,758
22,829
General and administrative
7,731
7,887
Other fee income
(80
)
(754
)
Adjustments to NOI (a)
(2,559
)
(3,872
)
NOI
42,708
37,832
NOI from other investment properties
(6,869
)
(3,107
)
Same Property NOI
$
35,839
$
34,725
(a)
Adjustments to NOI include termination fee
income and expense and GAAP Rent Adjustments.
NAREIT FFO and Core FFO
The following table presents a reconciliation of Net Income to
NAREIT FFO and Core FFO Attributable to Common Shares and Dilutive
Securities and provides additional information related to its
operations:
Three Months Ended March 31
2023
2022
Net income
$
1,133
$
9,501
Depreciation and amortization related to
investment properties
26,543
22,622
Unconsolidated joint venture adjustments
(a)
342
(465
)
NAREIT FFO Applicable to Common Shares and
Dilutive Securities
28,018
31,658
Amortization of above and below-market
leases and lease inducements, net
(1,516
)
(2,547
)
Straight-line rent adjustments, net
(909
)
(1,157
)
Adjusting items, net (b)
1,934
873
Unconsolidated joint venture adjusting
items, net (c)
(156
)
194
Core FFO Applicable to Common Shares and
Dilutive Securities
$
27,371
$
29,021
Weighted average common shares outstanding
- basic
67,508,641
67,354,717
Dilutive effect of unvested restricted
shares (d)
145,883
221,321
Weighted average common shares outstanding
- diluted
67,654,524
67,576,038
NAREIT FFO Applicable to Common Shares and
Dilutive Securities per share
$
0.41
$
0.47
Core FFO Applicable to Common Shares and
Dilutive Securities per share
$
0.40
$
0.43
(a)
Represents our share of depreciation,
amortization and gain on sale related to investment properties held
in IAGM.
(b)
Adjusting items, net, are primarily loss
on extinguishment of debt, amortization of debt discounts and
financing costs, depreciation and amortization of corporate assets,
and non-operating income and expenses, net, which includes items
which are not pertinent to measuring on-going operating
performance, such as basis difference recognition arising from
acquiring the four remaining properties of our joint venture, and
miscellaneous and settlement income.
(c)
Represents our share of amortization of
market lease intangibles and inducements, net, straight line rent
adjustments, net and adjusting items, net related to IAGM.
(d
For purposes of calculating non-GAAP per
share metrics, the same denominator is used as that which would be
used in calculating diluted earnings per share in accordance with
GAAP.
EBITDA and Adjusted EBITDA
Dollars in thousands
Three Months Ended March 31
2023
2022
Net income
$
1,133
$
9,501
Interest expense, net
9,509
4,809
Income tax expense
126
82
Depreciation and amortization
26,758
22,829
Unconsolidated joint venture adjustments
(a)
423
2,260
EBITDA
37,949
39,481
Adjustments to reconcile to Adjusted
EBITDA
Loss on debt extinguishment
—
96
Non-operating income and expense, net
(b)
865
(94
)
Other leasing adjustments (c)
(2,425
)
(3,704
)
Unconsolidated joint venture adjusting
items, net (d)
(172
)
(1,924
)
Adjusted EBITDA
$
36,217
$
33,855
(a)
Represents our share of depreciation,
amortization, interest expense, net, and income tax expense related
to IAGM.
(b)
Non-operating income and expense, net,
includes other items which are not pertinent to measuring ongoing
operating performance, such as basis difference recognition arising
from acquiring the four remaining properties of our joint venture,
and miscellaneous and settlement income.
(c)
Other leasing adjustments includes
amortization of above and below market leases and straight-line
rent adjustments.
(d)
Represents our share of loss on
extinguishment of debt, amortization of market lease intangibles
and inducements, net, straight line rent adjustments, net and
non-operating income and expense, net, related to IAGM.
Financial Leverage Ratios
Dollars in thousands
The following table presents the
calculation of net debt and Net Debt-to-Adjusted EBITDA:
As of March 31
As of December 31
2023*
2022*
Net Debt:
Outstanding Debt, net
$
832,986
$
805,253
Less: Pro Rata Cash
(86,002
)
(164,448
)
Net Debt
$
746,984
$
640,805
Net Debt-to-Adjusted EBITDA (trailing 12
months):
Net Debt
$
746,984
$
640,805
Adjusted EBITDA (trailing 12 months)
134,730
132,368
Net Debt-to-Adjusted EBITDA
5.5x
4.8x
*Pro Rata Cash as of March 31, 2023
includes cash remaining at our JV. Outstanding debt, net, and Net
Debt as of December 31, 2022 are Pro Rata.
About InvenTrust Properties Corp.
InvenTrust Properties Corp. (“we,” the “Company,” “our,” “us,”
"IVT" or "InvenTrust") is a premier Sun Belt, multi-tenant
essential retail REIT that owns, leases, redevelops, acquires and
manages grocery-anchored neighborhood and community centers as well
as high-quality power centers that often have a grocery component.
We pursue our business strategy by acquiring retail properties in
Sun Belt markets, opportunistically disposing of retail properties,
maintaining a flexible capital structure, and enhancing
environmental, social and governance ("ESG") practices and
standards. A trusted, local operator bringing real estate expertise
to its tenant relationships, IVT has built a strong reputation with
market participants across its portfolio. IVT is committed to
leadership in ESG practices and has been a Global Real Estate
Sustainability Benchmark (“GRESB”) member since 2013. For more
information, please visit www.inventrustproperties.com.
Forward-Looking Statements Disclaimer
Forward-Looking Statements in this press release, or made during
the earnings call, which are not historical facts, are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements, including statements about the Company’s 2023 guidance,
portfolio resilience and positioning, and acquisition growth or
regarding management’s intentions, beliefs, expectations,
representation, plans or predictions of the future, are typically
identified by words such as “may,” “could,” “expect,” “intend,”
“plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,”
“potential,” “continue,” “likely,” “will,” “would,” “outlook,”
“guidance,” and variations of these terms and similar expressions,
or the negative of these terms or similar expressions. Such
forward-looking statements are necessarily based upon estimates and
assumptions that, while considered reasonable by us and our
management, are inherently uncertain. The following factors, among
others, could cause actual results and financial position and
timing of certain events to differ materially from those described
in the forward-looking statements: interest rate movements; local,
regional, national and global economic performance; the impact of
inflation on the Company and on its tenants; competitive factors;
the impact of e-commerce on the retail industry; future retailer
store closings; retailer consolidation; retailers reducing store
size; retailer bankruptcies; government policy changes; the effects
and duration of the COVID-19 pandemic; and any material market
changes and trends that could affect the Company’s business
strategy. For further discussion of factors that could materially
affect the outcome of our forward-looking statements and our future
results and financial condition, see the Risk Factors included in
InvenTrust’s most recent Annual Report on Form 10-K, as updated by
any subsequent Quarterly Report on Form 10-Q, in each case as filed
with the Securities and Exchange Commission. InvenTrust intends
that such forward-looking statements be subject to the safe harbors
created by Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
except as may be required by applicable law. We caution you not to
place undue reliance on any forward-looking statements, which are
made as of the date of this press release. We undertake no
obligation to update publicly any of these forward-looking
statements to reflect actual results, new information or future
events, changes in assumptions or changes in other factors
affecting forward-looking statements, except to the extent required
by applicable laws. If we update one or more forward-looking
statements, no inference should be drawn that we will make
additional updates with respect to those or other forward-looking
statements.
Availability of Information on InvenTrust Properties Corp.'s
Website and Social Media Channels
Investors and others should note that InvenTrust routinely
announces material information to investors and the marketplace
using U.S. Securities and Exchange Commission filings, press
releases, public conference calls, webcasts and the InvenTrust
investor relations website. The Company uses these channels as well
as social media channels (e.g., the InvenTrust Twitter account
(twitter.com/inventrustprop); and the InvenTrust LinkedIn account
(linkedin.com/company/inventrustproperties)) as a means of
disclosing information about the Company's business to our
colleagues, investors, and the public. While not all of the
information that the Company posts to the InvenTrust investor
relations website or on the Company’s social media channels is of a
material nature, some information could be deemed to be material.
Accordingly, the Company encourages investors, the media and others
interested in InvenTrust to review the information that it shares
on www.inventrustproperties.com/investor-relations and on the
Company’s social media channels.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230427005922/en/
Dan Lombardo Vice President of Investor Relations 630-570-0605
dan.lombardo@inventrustproperties.com
InvenTrust Properties (NYSE:IVT)
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InvenTrust Properties (NYSE:IVT)
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Von Mai 2023 bis Mai 2024