InvenTrust Properties Corp.(NYSE: IVT), a publicly traded grocery-anchored retail REIT that formerly operated as a nontraded REIT, reported higher funds from operations and accelerating same-property growth for the second quarter of 2026 as the grocery-anchored retail REIT continued expanding across Sun Belt markets. Nareit FFO increased to $39.8 million, or $0.50 per diluted share, from $35.5 million, or $0.45 per share, a year earlier. Core FFO rose to $38.1 million, or $0.48 per share, compared with $34.3 million, or $0.44 per share. Same-property net operating income increased 4.1%, accelerating from 2.6% growth during the first quarter.
The portfolio was 96.2% leased as of June 30, including 98.1% anchor occupancy and 93.2% small-shop occupancy. InvenTrust executed 76 leases covering approximately 464,000 square feet during the quarter, with blended comparable leasing spreads of 8.5%. The difference between leased and economic occupancy represented approximately $5.6 million in annualized base rent that had been contracted but was not yet being recognized.
InvenTrust also continued its acquisition campaign, purchasing three shopping centers during the second quarter for a combined $132.6 million: 3609 South in Charlotte for $16.6 million, Trader Joe’s-anchored Sweetgrass Corner in Charleston for $51 million and Fresh Market-anchored Western Plaza in Knoxville for $65 million. The REIT subsequently acquired New Garden Crossing in Greensboro for $34 million on July 1. Including first-quarter transactions, InvenTrust had completed approximately $290 million in acquisitions through early July, approaching its full-year target of approximately $300 million in net investment activity.
The company increased its 2026 Nareit FFO guidance to between $2.01 and $2.07 per diluted share, up from its previous range of $2.00 to $2.06. Core FFO guidance remained between $1.92 and $1.96 per share, while projected same-property NOI growth remained between 3.25% and 4.25%. InvenTrust ended the quarter with $489.3 million in liquidity after issuing $250 million of senior notes carrying a weighted-average fixed interest rate of approximately 5.4%.
GAAP net income fell to $1.4 million from $95.9 million in the second quarter of 2025. However, the prior-year period included a $90.9 million gain from property sales, making FFO and same-property NOI more useful indicators of the change in recurring operations. The board maintained a quarterly dividend of $0.25 per share, equivalent to an annualized rate of $1 per share.
Sources:
InvenTrust Properties second-quarter 2026 Form 8-K and earnings materials
InvenTrust Properties Form 10-Q for the quarter ended June 30, 2026
InvenTrust Properties August 2026 investor presentation
