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InvenTrust Properties (IVT) FFO Per Share Stability Supports Bullish Cash Flow Narrative

Simply Wall St·02/12/2026 23:29:55
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InvenTrust Properties (IVT) has wrapped up FY 2025 with Q4 revenue of US$77.4 million, basic EPS of US$0.03, and funds from operations of US$36.8 million. FFO per share of US$0.47 sets the tone for how investors will read the latest update. Over the past year, total revenue on a trailing twelve month basis has moved from US$274.0 million to US$299.2 million, while basic EPS over the same window has shifted from US$0.19 to US$1.44, supported by net income excluding extra items rising from US$13.7 million to US$111.4 million. With net margin stepping up alongside higher trailing EPS, the market is likely to focus on how durable these margins look against the one off gains sitting in the background.

See our full analysis for InvenTrust Properties.

With the headline numbers on the table, the next step is to test them against the most common narratives around InvenTrust, highlighting where the recent results back up those stories and where they start to push against them.

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NYSE:IVT Earnings & Revenue History as at Feb 2026
NYSE:IVT Earnings & Revenue History as at Feb 2026

FFO Per Share Holds Near US$0.48 Run Rate

  • Across FY 2025, FFO per share stayed in a narrow band between US$0.46 and US$0.50 each quarter, with Q4 at US$0.47 and trailing twelve month FFO per share at US$1.91.
  • Consensus narrative suggests that focus on necessity based, grocery anchored centers and high occupancy is meant to support steady cash flows. The relatively steady quarterly FFO per share helps that bullish view, although it sits alongside forecasts for a very large earnings decline of 67.6% per year over the next three years, which pulls in the opposite direction.

One Off Gain Drives 37.2% Net Margin

  • Trailing twelve month net income excluding extra items is US$111.4 million on US$299.2 million of revenue, giving a 37.2% net margin versus 5% a year earlier, and includes a US$91.0 million one off gain.
  • Bears highlight that heavy reliance on specific markets and refinancing needs could pressure long term earnings stability. The fact that such a large one off gain is sitting inside the trailing 37.2% margin supports the cautious view that recent profitability may not repeat, especially with forecasts calling for earnings to fall to US$10.5 million by around 2028 and interest costs not well covered by earnings.
On a quarter like this, it helps to separate recurring cash metrics from accounting gains so you can see how much of the story is repeatable and how much is tied to that US$91.0 million one off item. 🐻 InvenTrust Properties Bear Case

P/E Of 21.1x And DCF Gap To US$35.42

  • With the share price at US$30.30, IVT is trading on a P/E of 21.1x compared with 27.3x for US Retail REITs on average and 77.1x for listed peers, and sits below a DCF fair value of US$35.42.
  • Bulls argue that concentrating on Sun Belt, necessity based, grocery anchored centers with high occupancy and rent escalators can support long term revenue and earnings. The combination of a lower P/E than the industry and a price below the DCF fair value heavily supports that bullish angle, even though analysts at the same time expect earnings to shrink sharply and revenue to grow at 7.2% per year, which is slower than the broader US market forecast of 10.4% per year.
If you are weighing that mix of lower P/E and DCF gap against the slower earnings outlook, it can be useful to see how bullish investors frame the long term story. 🐂 InvenTrust Properties Bull Case

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for InvenTrust Properties on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

See the numbers through a different lens? If your take on this update is taking shape already, turn it into your own narrative in a few minutes and Do it your way

A great starting point for your InvenTrust Properties research is our analysis highlighting 2 key rewards and 4 important warning signs that could impact your investment decision.

See What Else Is Out There

InvenTrust leans heavily on a US$91.0 million one off gain and faces forecasts for shrinking earnings and interest costs that are not well covered.

If you are uneasy about that mix of one off gains and fragile earnings coverage, check out our solid balance sheet and fundamentals stocks screener (45 results) to find companies built on sturdier financial footing right now.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.