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InvenTrust Properties

OTCPK:IARE
Snowflake Description

Undervalued with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IARE
OTCPK
$1B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

InvenTrust Properties Corp. is a retail company with a focus on acquiring grocery-anchored open-air centers in key growth markets with favorable demographics. The last earnings update was 27 days ago. More info.


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IARE Share Price and Events
7 Day Returns
0%
OTCPK:IARE
0.6%
US REITs
2.3%
US Market
1 Year Returns
-
OTCPK:IARE
16.3%
US REITs
9.4%
US Market
IARE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
InvenTrust Properties (IARE) 0% 0% - - -36.7% -74.4%
US REITs 0.6% 3.8% 16.4% 16.3% 10.5% 28.9%
US Market 2.3% 1.7% 15.1% 9.4% 39.4% 46.7%
1 Year Return vs Industry and Market
  • No trading data on IARE.
  • No trading data on IARE.
Price Volatility
IARE
Industry
5yr Volatility vs Market

Value

 Is InvenTrust Properties undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of InvenTrust Properties to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for InvenTrust Properties.

OTCPK:IARE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Funds From Operations
Levered Funds From Operations Average of 0 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:IARE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.54
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.544 (1 + (1- 21%) (49.91%))
0.838
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.838 * 5.96%)
7.73%

Discounted Cash Flow Calculation for OTCPK:IARE using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

The calculations below outline how an intrinsic value for InvenTrust Properties is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

InvenTrust Properties is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

OTCPK:IARE DCF 1st Stage: Next 10 year cash flow forecast
Funds From Operations (FFO) (USD, Millions) Source Present Value
Discounted (@ 7.73%)
2019 138.90 Est @ 3.11% 128.93
2020 143.06 Est @ 3% 123.27
2021 147.23 Est @ 2.92% 117.77
2022 151.44 Est @ 2.86% 112.45
2023 155.71 Est @ 2.82% 107.33
2024 160.07 Est @ 2.79% 102.41
2025 164.51 Est @ 2.77% 97.70
2026 169.05 Est @ 2.76% 93.20
2027 173.70 Est @ 2.75% 88.89
2028 178.47 Est @ 2.75% 84.78
Present value of next 10 years cash flows $1,056.73
OTCPK:IARE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $178.47 × (1 + 2.73%) ÷ (7.73% – 2.73%)
$3,668.86
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,668.86 ÷ (1 + 7.73%)10
$1,742.91
OTCPK:IARE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,056.73 + $1,742.91
$2,799.64
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,799.64 / 728.56
$3.84
OTCPK:IARE Discount to Share Price
Calculation Result
Value per share (USD) From above. $3.84
Current discount Discount to share price of $1.55
= -1 x ($1.55 - $3.84) / $3.84
59.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price InvenTrust Properties is available for.
Intrinsic value
>50%
Share price is $1.55 vs Future cash flow value of $3.84
Current Discount Checks
For InvenTrust Properties to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • InvenTrust Properties's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • InvenTrust Properties's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for InvenTrust Properties's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are InvenTrust Properties's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:IARE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.11
OTCPK:IARE Share Price ** OTCPK (2019-01-04) in USD $1.55
United States of America REITs Industry PE Ratio Median Figure of 152 Publicly-Listed REITs Companies 31.62x
United States of America Market PE Ratio Median Figure of 3,065 Publicly-Listed Companies 17.78x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of InvenTrust Properties.

OTCPK:IARE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OTCPK:IARE Share Price ÷ EPS (both in USD)

= 1.55 ÷ 0.11

14.09x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • InvenTrust Properties is good value based on earnings compared to the US REITs industry average.
  • InvenTrust Properties is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does InvenTrust Properties's expected growth come at a high price?
Raw Data
OTCPK:IARE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.09x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
9.5%per year
United States of America REITs Industry PEG Ratio Median Figure of 139 Publicly-Listed REITs Companies -0.14x
United States of America Market PEG Ratio Median Figure of 2,107 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for InvenTrust Properties, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on InvenTrust Properties's assets?
Raw Data
OTCPK:IARE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $2.54
OTCPK:IARE Share Price * OTCPK (2019-01-04) in USD $1.55
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.88x
United States of America Market PB Ratio Median Figure of 5,159 Publicly-Listed Companies 1.9x
OTCPK:IARE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OTCPK:IARE Share Price ÷ Book Value per Share (both in USD)

= 1.55 ÷ 2.54

0.61x

* Primary Listing of InvenTrust Properties.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • InvenTrust Properties is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess InvenTrust Properties's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. InvenTrust Properties has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is InvenTrust Properties expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover InvenTrust Properties, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is InvenTrust Properties expected to grow at an attractive rate?
  • InvenTrust Properties's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • InvenTrust Properties's earnings growth is positive but not above the United States of America market average.
  • Unable to compare InvenTrust Properties's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OTCPK:IARE Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:IARE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 9.5%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 0.9%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 3.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:IARE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:IARE Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 246 125 84
2018-09-30 251 125 75
2018-06-30 252 123 78
2018-03-31 252 119 90
2017-12-31 255 118 58
2017-09-30 250 120 74
2017-06-30 246 97 90
2017-03-31 245 112 106
2016-12-31 252 133 119
2016-09-30 263 148 118
2016-06-30 271 192 -11
2016-03-31 274 190 -5

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • InvenTrust Properties's earnings are expected to grow by 9.5% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if InvenTrust Properties is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:IARE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from InvenTrust Properties Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:IARE Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.11
2018-09-30 0.10
2018-06-30 0.10
2018-03-31 0.12
2017-12-31 0.07
2017-09-30 0.09
2017-06-30 0.11
2017-03-31 0.13
2016-12-31 0.14
2016-09-30 0.14
2016-06-30 -0.01
2016-03-31 -0.01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if InvenTrust Properties will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess InvenTrust Properties's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
InvenTrust Properties has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has InvenTrust Properties performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare InvenTrust Properties's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • InvenTrust Properties has delivered over 20% year on year earnings growth in the past 5 years.
  • InvenTrust Properties's 1-year earnings growth exceeds its 5-year average (44.6% vs 23.1%)
  • InvenTrust Properties's earnings growth has exceeded the US REITs industry average in the past year (44.6% vs 22.6%).
Earnings and Revenue History
InvenTrust Properties's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from InvenTrust Properties Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:IARE Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 245.51 83.75 37.30
2018-09-30 250.59 74.67 39.50
2018-06-30 252.24 77.86 40.92
2018-03-31 251.88 89.50 43.21
2017-12-31 254.89 57.94 44.47
2017-09-30 249.98 74.16 46.93
2017-06-30 246.16 90.46 47.64
2017-03-31 245.33 105.82 50.74
2016-12-31 251.99 119.19 50.81
2016-09-30 263.30 117.84 52.73
2016-06-30 270.57 -11.26 56.21
2016-03-31 273.72 -5.46 57.18
2015-12-31 263.04 -25.30 69.68
2015-09-30 311.48 163.28 65.03
2015-06-30 353.17 292.14 71.06
2015-03-31 404.13 195.76 71.56
2014-12-31 285.34 248.28 61.35
2014-09-30 656.05 -28.79 66.58
2014-06-30 819.24 -92.42 58.75
2014-03-31 929.24 -186.13 55.65
2013-12-31 459.06 -186.50 45.33
2013-09-30 1,081.23 -195.47 44.90
2013-06-30 1,100.91 -228.98 40.57
2013-03-31 1,124.84 -113.26 37.40
2012-12-31 907.55 -96.15 35.15
2012-09-30 1,128.67 -274.36 33.38
2012-06-30 1,145.05 -229.80 33.19

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • InvenTrust Properties has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • InvenTrust Properties used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • InvenTrust Properties has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess InvenTrust Properties's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
InvenTrust Properties has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is InvenTrust Properties's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up InvenTrust Properties's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • InvenTrust Properties is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • InvenTrust Properties's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of InvenTrust Properties's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from InvenTrust Properties Company Filings, last reported 3 months ago.

OTCPK:IARE Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,852.31 563.57 261.77
2018-09-30 1,847.27 589.99 157.35
2018-06-30 1,950.21 590.34 185.70
2018-03-31 1,940.06 629.85 292.56
2017-12-31 1,905.72 667.86 164.42
2017-09-30 1,927.89 666.96 102.81
2017-06-30 1,914.07 770.07 366.24
2017-03-31 1,905.89 772.53 243.24
2016-12-31 1,949.53 670.66 397.25
2016-09-30 2,161.27 653.42 578.73
2016-06-30 2,145.76 947.67 812.92
2016-03-31 2,147.24 2,022.42 435.65
2015-12-31 2,148.70 1,094.65 203.29
2015-09-30 2,151.52 1,849.56 253.25
2015-06-30 2,301.46 1,827.54 171.62
2015-03-31 2,301.87 1,834.44 197.78
2014-12-31 3,996.83 1,991.61 598.90
2014-09-30 3,793.24 3,637.90 348.79
2014-06-30 3,869.75 4,347.28 364.19
2014-03-31 4,330.83 4,213.43 552.56
2013-12-31 4,266.64 3,641.55 319.24
2013-09-30 4,306.67 4,036.46 383.80
2013-06-30 4,171.70 5,321.16 295.94
2013-03-31 4,318.73 6,024.85 203.54
2012-12-31 4,342.75 6,007.02 220.78
2012-09-30 4,408.14 6,030.44 330.51
2012-06-30 4,496.68 6,196.77 211.47
  • InvenTrust Properties's level of debt (30.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (85.5% vs 30.4% today).
  • Debt is well covered by operating cash flow (22.1%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess InvenTrust Properties's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. InvenTrust Properties has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is InvenTrust Properties's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.75%
Current annual income from InvenTrust Properties dividends.
If you bought $2,000 of InvenTrust Properties shares you are expected to receive $95 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • InvenTrust Properties's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • InvenTrust Properties's dividend is above the markets top 25% of dividend payers in United States of America (3.68%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:IARE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2002 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:IARE Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-11-08 0.074 4.755
2018-05-21 0.070 4.109
2017-03-27 0.070 4.995
2017-03-03 0.068 3.013
2016-08-19 0.120 7,136.086
2016-05-16 0.120 7.037
2016-03-18 0.120 5.393
2015-11-13 0.130 795.875
2015-08-11 0.130 5.082
2015-03-03 0.130 4.765
2014-11-11 0.500 9.963
2014-08-19 0.500 8.110
2014-05-19 0.500 7.996
2014-03-31 0.500 8.264
2014-02-21 0.500 8.333

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • InvenTrust Properties has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • InvenTrust Properties has only been paying a dividend for 5 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of InvenTrust Properties's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess InvenTrust Properties's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can InvenTrust Properties afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. InvenTrust Properties has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of InvenTrust Properties's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Tom McGuinness
COMPENSATION $3,830,014
AGE 62
TENURE AS CEO 6.6 years
CEO Bio

Mr. Thomas P. McGuinness has been the Chief Executive Officer at InvenTrust Properties Corp. since November 18, 2014, its Director since February 2015 and also its President since the Company initiated its self-management transactions in March 2014. Prior to the self-management transactions, Tom had been President and Principal Executive Officer of the InvenTrust Properties Corp. since September 2012 and President of the former business manager since January 2012. Before that, he had been President of the InvenTrust Properties’s former property manager. Mr. McGuinness serves as the President at Inland American Business Manager & Advisor, Inc. He has been the Chief Operating Officer at Inland Retail Real Estate Trust Inc. since May 13, 2005. Mr. McGuinness serves as the Chief Executive Officer and Chairman of Inland North American Property Management Corp and Property Manager at Inland American Real Estate Trust Inc. Mr. McGuinness joined The Inland Group Inc. organization in property management in 1982 and became President of Mid-America Management Corporation, a Property Management Company within Inland organization, in July 1990 and Chairman in 2001. He serves as the President and Manager at Inland HOLDCO Management LLC. He serves as the President and a Manager at Inland US Management LLC, Inland Pacific Properties Services LLC and Inland Southwest Management LLC, the three property managers of Inland Western Retail Real Estate Trust Inc. He serves as the President at Inland Property Management Inc. He previously served as the president of the Chicagoland Apartment Association and as the Regional Vice President of the National Apartment Association. Mr. McGuinness serves as the Chairman of Inland Mid-Atlantic Management Corp. He has been a Director of InvenTrust Properties Corp. since February 18, 2015. Mr. McGuinness has been a Director of Inland Retail Real Estate Trust Inc., since March 3, 2006. He serves as a Director of Inland Commercial Property Management. Mr. McGuinness served as a Director of Feldman Mall Properties Inc. from May 2008 to November 16, 2011. Mr. McGuinness is on the Board of Directors of the Apartment Building Owners and Managers Association and is a trustee with the Service Employees' Local No. 1 Health and Welfare Fund, as well as the Pension Fund and holds CLS and CSM accreditations from the International Council of Shopping Centers. Mr. McGuinness is a licensed Real Estate Broker.

CEO Compensation
  • Tom's compensation has been consistent with company performance over the past year.
  • Tom's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the InvenTrust Properties management team in years:

3.4
Average Tenure
50.5
Average Age
  • The tenure for the InvenTrust Properties management team is about average.
Management Team

Tom McGuinness

TITLE
President
COMPENSATION
$4M
AGE
62
TENURE
6.6 yrs

Adam Jaworski

TITLE
Senior VP
COMPENSATION
$711K
AGE
44
TENURE
0.7 yrs

Ivy Greaner

TITLE
Executive VP & COO
COMPENSATION
$1M
AGE
57
TENURE
0.8 yrs

Christy David

TITLE
Executive VP
COMPENSATION
$835K
AGE
39
TENURE
2.3 yrs

Nicole Grimaldi

TITLE
Senior Vice President

Dan Lombardo

TITLE
Vice President of Investor Relations

Chris Covey

TITLE
Senior Vice President of Transactions
TENURE
4.7 yrs

Mark Vondrak

TITLE
Director of Leasing - Houston Office
TENURE
3.8 yrs

Alan Grayson

TITLE
Director of Leasing - Dallas Office
TENURE
3.8 yrs

Gordon Miller

TITLE
Director of Leasing - Southeast Region
TENURE
2.9 yrs
Board of Directors Tenure

Average tenure and age of the InvenTrust Properties board of directors in years:

2.4
Average Tenure
61
Average Age
  • The average tenure for the InvenTrust Properties board of directors is less than 3 years, this suggests a new board.
Board of Directors

Paula Saban

TITLE
Chairperson of the Board
COMPENSATION
$238K
AGE
64
TENURE
1.7 yrs

Tom McGuinness

TITLE
President
COMPENSATION
$4M
AGE
62
TENURE
4.2 yrs

Thomas Glavin

TITLE
Independent Director
COMPENSATION
$210K
AGE
57
TENURE
11.5 yrs

Jay Whitehurst

TITLE
Director
COMPENSATION
$189K
AGE
61
TENURE
3.1 yrs

Mike Stein

TITLE
Director
COMPENSATION
$190K
AGE
68
TENURE
2.4 yrs

Scott Nelson

TITLE
Director
COMPENSATION
$187K
AGE
61
TENURE
2.4 yrs

Stuart Aitken

TITLE
Director
COMPENSATION
$212K
AGE
46
TENURE
1.3 yrs

Amanda Black

TITLE
Director
COMPENSATION
$74K
AGE
41
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess InvenTrust Properties's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. InvenTrust Properties has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

InvenTrust Properties Corp. is a retail company with a focus on acquiring grocery-anchored open-air centers in key growth markets with favorable demographics. This disciplined acquisition strategy, along with our innovative and collaborative property management approach, ensures the success of both our tenants and business partners and drives net operating income growth for the Company. InvenTrust became a self-managed REIT in 2014 and a Global Real Estate Sustainability Benchmark ("GRESB") member in 2018. As of December 31, 2018, the company is an owner and manager of 71 retail properties, representing 12.1 million square feet of retail space.

Details
Name: InvenTrust Properties Corp.
IARE
Exchange: OTCPK
Founded: 2004
$1,129,266,432
728,558,989
Website: http://www.inventrustproperties.com
Address: InvenTrust Properties Corp.
3025 Highland Parkway,
Suite 350,
Downers Grove,
Illinois, 60515,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OTCPK IARE Common Stock Pink Sheets LLC US USD 21. Feb 2014
Number of employees
Current staff
Staff numbers
117
InvenTrust Properties employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/03 01:02
End of day share price update: 2019/01/04 00:00
Last earnings filing: 2019/03/07
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.