InvenTrust Properties Corp. (NYSE:IVT) Q3 2024 Earnings Conference Call October 30, 2024 10:00 AM ET

Company Participants

Dan Lombardo - VP, IR
Daniel Busch - President and CEO
Michael Phillips - CFO
Christy David - COO

Conference Call Participants

Andrew Reale - Bank of America
Dori Kesten - Wells Fargo
Daniel Purpura - Green Street

Operator

Thank you for standing by, and welcome to InvenTrust's Third Quarter 2024 Earnings Conference Call. My name is Elliot, and I'll be your conference call operator today. Before we begin, I would like to remind our listeners that today's presentation is being recorded, and a replay will be available on the investors section of company's website at inventrustproperties.com. [Operator Instructions]

Now I'd like to turn the call over to Mr. Dan Lombardo, Vice President of Investor Relations. Please go ahead, sir.

Dan Lombardo

Thank you, operator. Good morning, everyone, and thank you for attending our call today. Joining me from the InvenTrust team is DJ Busch, President and Chief Executive Officer; Mike Phillips, Chief Financial Officer; Christy David, Chief Operating Officer; and Dave Heimberger, Chief Investment Officer.

Following the team's prepared remarks, we will open the line for questions.

As a reminder, some of today's comments may contain forward-looking statements about the company's views on the future of our business and financial performance, including forward-looking earnings guidance and future market conditions. These are based on management's current beliefs and expectations and are subject to various risks and uncertainties. Any forward-looking statements speak only as of today's date, and we assume no obligation to update any forward-looking statements made on today's call or that are in the quarterly financial supplemental or press release.

In addition, we will also reference certain non-GAAP financial measures. The comparable GAAP financial measures are included in this quarter's earnings materials, which are posted on our Investor Relations website.

With that, I will turn the call over to DJ.

Daniel Busch

Thank you, Dan, and good morning to everyone joining us today. I'm going to provide some highlights regarding our third quarter results, including our inaugural follow-on equity offering that was executed in September and the opportunities that lie ahead for InvenTrust. Mike will discuss our financial results and provide some color regarding yet another increase to our 2024 guidance, and Christy will end our prepared remarks with additional commentary regarding our leasing efforts and operations.

Since listing the company in October of 2021, InvenTrust has executed on all fronts of its simple and focused strategy. The company has delivered above-sector average same-property NOI growth, above-average FFO per share growth, acquired nearly $500 million of assets, including the consolidation of our only joint venture, resulting in the entire IVT portfolio being wholly-owned, received an investment-grade credit rating and completed a private placement debt offering.