Inventrust Properties (IVT) Q3 2026 earnings summary

Executive summary

• Q3 same-property NOI rose 3.1% to $50.4M; Nareit FFO was $0.53 per diluted share and Core FFO was $0.50.

• Nine-month same-property NOI grew 3.4%; Nareit FFO per share rose 9.9% to $1.56, supported by leasing, retention, internal growth and acquisitions.

• Portfolio expanded to 78 properties and 12.301M sq. ft.; seven properties totaling 846,000 sq. ft. were acquired for $289.576M in 9M 2026.

Financial highlights

• Q3 total income was $87.117M vs. $74.466M; net income was $19.413M vs. $6.026M, with diluted EPS of $0.25 vs. $0.08.

• Q3 Nareit FFO was $41.5M, or $0.53 per diluted share, vs. $38.4M, or $0.49; Core FFO was $39.0M, or $0.50, vs. $36.7M, or $0.47.

• Nine-month Nareit FFO was $122.6M, or $1.56 per diluted share, vs. $111.1M, or $1.42; Core FFO was $115.9M, or $1.47, vs. $107.3M, or $1.37.

• Nine-month net income was $25.966M vs. $108.760M, reflecting a $17.4M property-sale gain in 2026 vs. $91.0M in 2025.

• Q3 Adjusted EBITDA was $51.385M vs. $45.030M; nine-month Adjusted EBITDA was $148.140M vs. $131.188M.

Outlook and guidance

• FY2026 diluted EPS guidance rose to $0.31–$0.33, Nareit FFO to $2.05–$2.07 per share, and Core FFO to $1.94–$1.96 per share.

• FY2026 same-property NOI growth guidance increased to 3.75%–4.25% from 3.25%–4.25%; net investment activity is projected at $190M–$255M.

• Guidance assumes expected uncollectibility of 30–70 bps of total revenue; actual results may differ materially as assumptions and external factors change.

• One-third of the $4.3M signed-not-open annualized rent pipeline is expected online in Q4 2026 and ~75% by FY2027.