InvenTrust Properties to Explore Liquidity Alternatives
August 6, 2021 | S&P Global Market Intelligence
InvenTrust Properties Corp. will consider liquidity alternatives, a process that the retail real estate investment trust said was previously delayed because of the COVID-19 pandemic and related uncertainties.
The REIT’s board and management will evaluate a potential listing for the company on a national securities exchange, among other options, as part of the process.
The company’s board also approved a 1-for-10 reverse stock split of each issued and outstanding common share, effective August 5. Post-split, the new dividend amount for the third quarter will be 20.5 cents per share.
InvenTrust also suspended its share repurchase program as of September 5.
The REIT’s board approved a 5% raise to the company’s dividend rate, beginning with the fourth-quarter distribution due to be paid in January 2022.
