Inventrust Properties Corp. · NYSE:IVT
Inventrust Properties — Q2 2020 Earnings Presentation
15 slides from Inventrust Properties's earnings presentation, Aug 20, 2020
Slide 1: Webcast Presentation August 20, 2020
Webcast Presentation August 20, 2020 Essential Retail. Smart Locations.
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: Second Quarter Results & Platform Overview
Second Quarter Results & Platform Overview InvenTrust Essential Retail. Smart Locations. 65 Retail Properties 13 Sun-Belt Markets (~20 MSAs) 84% Grocery-Anchored1 17% Net Leverage Ratio2 3 ~$5M Shares Repurchased $182M Net Cash Balance (at share) Essential Retail. Smart Locations. | 2020 3
Slide 4: Geography: Smart Locations
Geography: Smart Locations Operating teams located within two-hour drive of 90% of properties 1 Essential Retail. Smart Locations. | 2020 4
Slide 5: Portfolio Structure Driving Rent Collections
Portfolio Structure Driving Rent Collections The conversion of our portfolio to essential retail/grocery-anchored centers will help us mitigate the impact of COVID and the disruption to the economy Neighborhood or Community Center A property below 250,000 square feet that contains a grocer. Essentia
Slide 6: Retail Not Surviving COVID
Retail Not Surviving COVID Enclosed malls (which InvenTrust doesn’t own) were struggling before COVID, many will close and be repurposed. Rent collections for mall REITs range between 45% to 55%. Mall (which InvenTrust doesn’t own) A large center with usually 4 or more large anchor spaces and is nor
Slide 7: Portfolio Composition
Portfolio Composition1 Essential Retail: Tenants are open and operating, providing consumers with immediate needs Other Essential Banks Retail/Services Office/ Pets 4% 2% Hardware/Auto Communications 3% Essential Retail: 1% 5% 43.0% of Pro Rata ABR Medical 8% Restaurants: Restaurants 19.5% of Pro Ra
Slide 8: Grocery Concentration: Peer Comparison
Grocery Concentration: Peer Comparison Grocery-Anchored % of Pro Rata Asset Value1 Grocery Anchored Incremental Grocery (Power Center) 100% 96% 90% 14% 85% 80% 80% 80% 77% 72% 20% 13% 71% 70% 70% 67% 65% 29% 60% 40% 25% 50% 51% 40% 82% 60% 47% 65% 67% 67% 30% 51% 45% 20% 37% 10% 20% 18% 12% 0% ROIC
Slide 9: Managing through COVID-19 Operations
Managing through COVID-19 Operations: Key Actions Related to the COVID-19 Impact • Initiated an Operational Task Force ✓ Assess each lease on a case-by-case basis – how can we help the tenant while balancing short-term cash flow with longer-term opportunities ✓ Increased tenant outreach, partnership
Slide 10: Managing through COVID-19 Finance & Capital Markets
Managing through COVID-19 Finance & Capital Markets: Key Actions Related to the COVID-19 Impact • Drew down $150 million from Revolving Credit Agreement for increased financial flexibility, ended the quarter with $332 million in cash • Below 20% net leverage with only 1.6% of total debt maturing in
Slide 11: Managing through COVID-19 Investor Relations
Managing through COVID-19 Investor Relations: Key Actions Related to the COVID-19 Impact • InvenTrust has increased the frequency of our communication to our shareholders: ✓ Conducting a webcast each quarter ✓ Publishing monthly newsletters • Introducing new metrics to improve transparency in the cu
Slide 12: Managing through COVID-19 Corporate Policies
Managing through COVID-19 Corporate Policies: Key Actions Related to the COVID-19 Impact • Paid April & July distribution at previously disclosed increased rate • Postponed publication of new estimated share value due to: • The potential financial impact of the COVID-19 pandemic • The sharp drop in
Slide 13: InvenTrust: Essential Retail. Smart Locations.
InvenTrust: Essential Retail. Smart Locations. Properties Platform Team Culture Predominantly Simple, focused, and Deep real estate Innovative, collegial, grocery-anchored flexible in both the expertise embedded in and accountable centers in Sun-Belt portfolio and capital our markets close to market
Slide 14: @y InvenTrust
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Slide 15: Footnotes
Footnotes Page 3 1. By YTD 2020 pro-rata NOI as of June 30, 2020. NOI percentage includes Page 9 shadow-anchored grocery store tenants. Walmart, Target and warehouse 1. As of August 14, 2020 clubs are considered grocers, regardless of whether the box is owned by the 2. As of August 14, 2020 REIT or
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