InvenTrust Properties Corp.

inventrustproperties.com

What Do They Do?

Owns, leases and manages grocery-anchored neighborhood and community shopping centers, as well as power centers, for retail tenants.

How Do They Make Money?

Retail tenants pay fixed rent under long-term leases, along with variable reimbursements for some property expenses; fixed rent is spread across the lease term.

revenue

Segment	Share	Revenue	How money arrives
Other property income Recurring	100% FY2022: 31%		Recurring
Other fee income	0.0% FY2022: 69%

Who Are Their Customers?

Retailers, including grocery anchors and small-shop tenants, rent space directly from the company under leases.

Do Revenues Turn Into Profits?

Yes. It kept 37 cents of every revenue dollar as net income in FY2025.

Operating income, FY2025

20% of revenue

▲ Now profitable vs FY2024 (−$33.3M, −12%)

Net income, FY2025

37% of revenue

▲ +716% vs FY2024 ($13.7M, 5%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Sep 30, 2026

Revenue: ▲ +17%; vs $74.5M in Q3 FY2025
Net income: ▲ +222%; vs $6M in Q3 FY2025

Aug 3, 2026 Raised earnings guidance for 2026 Net income per diluted share guidance rose to $0.12–$0.18 from $0.10–$0.16; Nareit funds from operations guidance rose to $2.01–$2.07 from $2.00–$2.06.

Growing. Revenue grew 41% in 4 years, from $212M in FY2021 to $299.2M in FY2025, about 9% a year.

Revenue over time

Other property income Other fee income

$5M$2.5M$0

FY2021 FY2022 FY2023 FY2024 FY2025

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