Inventrust Properties Corp. · NYSE:IVT
Inventrust Properties — Investor Presentation (March 2020)
23 slides from Inventrust Properties's investor presentation, Mar 6, 2020
Slide 1: Webcast Presentation March 6, 2020
Webcast Presentation March 6, 2020
Slide 2: Forward Looking Statements
Forward Looking Statements Forward-Looking Statements in this presentation, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical, including statemen
Slide 3: 2019 Review
2019 Review o 3% Dividend increase – Fourth consecutive year of a 3% increase o Repurchased over $20 million worth of shares through the SRP o Share value remained stable at $3.14 o 95% Ending economic occupancy o ~$800M Of transaction activity (~$415M acqs./~$380 dispos.) o $0.15 Adjusted Funds fro
Slide 4: 2020 Strategy
2020 Strategy o Continue to grow same property NOI through favorable leasing, redevelopment & expense management o Continue to execute on acquisition strategy & evaluate disposition opportunities (Net buyer in 2020) o Maintain a flexible balance sheet o Continue to improve public company readiness a
Slide 5: InvenTrust's Retail Portfolio Strategy: Our 3G Approach
InvenTrust’s Retail Portfolio Strategy Our 3G Approach Brings Less Risk & A More Stable Share Value GEOGRAPHY • Focus portfolio in Sun Belt markets with attractive demographics - growing populations and household incomes • Reduced number of markets in portfolio to improve operational efficiencies &
Slide 6: IVT's Retail Portfolio in 2015
IVT’s Retail Portfolio in 2015 40+ Markets Across the Country / Fewer Field Offices 1 6
Slide 7: Sun Belt Focused Portfolio
Sun Belt Focused Portfolio 1 7
Slide 8: Portfolio Located in High Growth Markets
Portfolio Located in High Growth Markets By strategically targeting Sun Belt markets expecting significant near-term population and job growth, InvenTrust expects to have a sizeable advantage to capture future demographic shifts. Estimated Portfolio Population & Job Growth (’19 -’23) 8.0% IVT Peers
Slide 9: Portfolio Evolution to Grocery Anchored Assets
Portfolio Evolution to Grocery Anchored Assets1 By Net Operating Income 12/31/2015 12/31/2019 Strip Center Grocery - No Grocer Anchored Grocery 8% 61% Anchored 26% Power Center - No Grocer 83% 70% 22% Grocery Grocery 1 Anchored Anchored 1 Power Center with Grocer Power 22% Power Center Center with -
Slide 10: Top Grocers Dominate Portfolio
Top Grocers Dominate Portfolio NOI from Grocery-Anchored Centers1 18% 17% 8% 7% 18% Specialty 15% Mass Market & Other 10
Slide 11: Recent Acquisitions – Upgrading the Portfolio
Recent Acquisitions – Upgrading the Portfolio Southern Palm Crossing Eldorado Marketplace Travilah Square Royal Palm Beach, FL Frisco, TX Rockville, MD • Annualized Base Rent per SF - $21.45 • Annualized Base Rent per SF - $22.01 • Annualized Base Rent per SF - $47.78 • Costco anchored • Market Stre
Slide 12: Completed Capital Recycling Impact
Completed Capital Recycling Impact InvenTrust has significantly improved the quality of its portfolio and operations with ~ $3.7 billion of transaction volume since embarking on our capital recycling efforts in 2015. Acquisitions Dispositions completed since 2015 completed since 2015 32 76 #Properti
Slide 13: Balance Sheet Will Support Future Growth
Balance Sheet Will Support Future Growth Balance Sheet Metrics as of 12/31/191 Peers2 Available Unsecured Debt $350 million - Net Debt to EBITDA 3.2x 5.0x to 7.4x Leverage Ratio (Debt / Gross Asset Value) 24% Average ~35% Weighted Average Interest Rate 3.28% - Distribution Rate on NAV 2.35% 3.5% to
Slide 14: Stable Platform = Increasing Distributions
Stable Platform = Increasing Distributions $0.078 $0.0759 $0.076 $0.0737 $0.074 $0.072 $0.0716 $0.070 $0.0695 $0.068 $0.0675 $0.066 $0.064 $0.062 2016 2017 2018 2019 2020 Fourth Consecutive Annual Increase in IVT’s Distribution Rate The increases in the distribution rate underscores the confidence t
Slide 15: Share Repurchase Program Results
Share Repurchase Program Results • Announced November 1, 2019, SRP became active December 1, 2019 • To be eligible for any of the SRP categories, you must be a Qualifying shareholder. • SRP categories: • Category 1 – Death of a shareholder registered on an InvenTrust account. • Category 2 - Classifi
Slide 16: Dividend Reinvestment Plan Available
Dividend Reinvestment Plan Available • Available starting November 1, 2019. • All shareholders are eligible. • In lieu of cash dividend payments, shareholders will receive new shares at a 25% discount to the Company’s current estimated share value of $3.14 or $2.355 per share. • Dividend yield rate
Slide 17: InvenTrust
“. Inventrust Lee Properties Az
Slide 18: Appendix
TAR A is appendix &*, Inventrust Lee Properties a8
Slide 19: Footnotes
Footnotes Page 7 1. As of December 31, 2019. 2. Southern California includes Los Angeles, Riverside/San Page 13 Bernardino/Ontario (Inland Empire) and San Diego. Denver includes 1. Gross asset value includes (a) wholly owned retail properties, (b) Fort Collins and Colorado Springs. Tampa/St. Petersb
Slide 20: The Journey to a Retail Portfolio & Stable Platform
The Journey to a Retail Portfolio & Stable Platform InvenTrust’s Portfolio & Platform Structure as of 12/31/2012 Portfolio was $12.7 Billion of Diversified Leverage Ratio = Dividend Payout Assets, JVs & Marketable 56% Ratio = 93% Securities These Metrics Correspond with Pre-Recession Non-Traded REIT
Slide 21: The Journey to a Retail Portfolio & Stable Platform
The Journey to a Retail Portfolio & Stable Platform $460 million apartment portfolio sale to 2013 Completed $1.8 billion sale of net lease (non-core) assets to Completed a $395 million, or 6.7% of outstanding shares, modified “Dutch Auction” tender offer. $1.1 billion sale of select service lo
Slide 22: The Journey to a Retail Portfolio & Stable Platform
The Journey to a Retail Portfolio & Stable Platform Spin-off & listing of Xenia on the NYSE 2015 Implemented new branding as a pure-play retail REIT and changed name to InvenTrust Properties Spin-off of “non-core” assets into Highlands REIT, Inc. Highlands is a stand-alone, independent, non-tr
Slide 23: The Journey to a Retail Portfolio & Stable Platform
The Journey to a Retail Portfolio & Stable Platform Initiated 3G Retail Portfolio Strategy 3% increase in distribution rate 2017 Addition of 2 new Board members with retail and/or real estate experience 3% increase in distribution rate 2018 Completed a $100 million, or 6% of outstanding shar
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