IVT
InvenTrust Properties Corp.
IVT's fundamentals are weak: its operating margin went from 22% to −7.7% and earnings per share fell 77%, though revenue grew 13%. At 88x earnings, it's trading below its usual 118x. Analysts expect earnings to hold roughly steady.
IVT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| N/A | |
| N/A |
IVT's revenue is currently healthy, but its profitability is under pressure. Free cash flow and net leverage aren't meaningful measures for real estate companies like IVT.
IVT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 23x | $8.21 | -74% |
| Current | 88x | $31.60 | — |
| Fair | 117x | $42.26 | +34% |
| Expensive | 375x | $135 | +327% |
| Forward | 395x | $31.60 | — |
Historical ranges are pointers, not guarantees.
IVT's PE is in its fair range at 88x. On analysts' estimates for next year's earnings, today's price would be 395x, in its expensive range.
IVT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Stable | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect IVT's revenue to grow and its profitability to improve, with its earnings holding steady.
IVT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.08 | -78% |
| Q3 2026 | $0.36 | -77% |
| Q2 2026 | $0.19 | -87% |
| Q1 2026 | $1.40 | +483% |
| Q4 2025 | $1.42 | +647% |
| Q3 2025 | $1.54 | +1611% |
| Q2 2025 | $1.45 | +1511% |
| Q1 2025 | $0.24 | +140% |
| Q4 2024 | $0.19 | +138% |
IVT's earnings per share have fallen from their peak: $0.36 over the past year, against $1.54 in late 2025.
IVT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $87.1M | +17% |
| Q2 2026 | $82.8M | +13% |
| Q1 2026 | $82.6M | +12% |
| Q4 2025 | $77.4M | +8.6% |
| Q3 2025 | $74.5M | +8.7% |
| Q2 2025 | $73.6M | +9.1% |
| Q1 2025 | $73.8M | +10% |
| Q4 2024 | $71.2M | +10% |
IVT's revenue has grown year over year for 22 quarters in a row: $87M last quarter, up 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 4.8% | +15 points |
| Q2 2026 | -14% | -127 points |
| Q1 2026 | -12% | -1.4 points |
| Q4 2025 | -11% | -7.3 points |
| Q3 2025 | -9.8% | +8.9 points |
| Q2 2025 | 114% | +127 points |
| Q1 2025 | -10% | +2.7 points |
| Q4 2024 | -3.6% | +5.8 points |
IVT's operating margin was 4.8% last quarter, up 15 points from the same quarter a year ago.
IVT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $35.7M | +14% |
| Q2 2026 | $46M | +21% |
| Q1 2026 | $14.1M | +10% |
| Q4 2025 | $28.7M | +8.5% |
| Q3 2025 | $31.4M | +33% |
| Q2 2025 | $38M | -7% |
| Q1 2025 | $12.8M | +29% |
| Q4 2024 | $26.5M | +14% |
IVT's free cash flow was $125M over the past year, up 15% from the year before. Free cash flow isn't a meaningful measure for real estate companies like IVT.
IVT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -28.1K shares |
| 1 year | +0.3% | +227K shares |
| 3 years | +17% | +11.2M shares |
| 5 years | +10% | +7.3M shares |
| Available history | +7.9% | +5.8M shares |
IVT has 79M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q4 2022 | — |
| Q3 2022 | — |
| Q4 2021 | $6,000 |
| Q3 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
| Q4 2019 | — |
IVT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 8.1x | High |
| Q2 2026 | 9.7x | High |
| Q1 2026 | 4.8x | High |
| Q4 2025 | 4.2x | High |
| Q3 2025 | 3.6x | Elevated |
| Q2 2025 | 2.5x | Moderate |
| Q1 2025 | 7.8x | High |
| Q4 2024 | 8.1x | High |
IVT's net debt is about 8.1 years of its operating earnings (EBITDA), up from 3.6 years a year ago. Net leverage isn't a meaningful measure for real estate companies like IVT.
IVT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.2 | Neutral |
| Stochastic | 38.3 | Neutral |
IVT's weekly RSI is 48 (neutral) and its Stochastic is 38 (neutral).
IVT PE vs Real Estate Sector
| Metric | IVT | Sector median | Relative |
|---|---|---|---|
| PE | 88x | 24x | 267% above |
| PE % | 45 | 26 | 19 pts above |
IVT is trading at 88x earnings, a 267% premium to the Real Estate sector's median of 24x.
IVT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $30.6 | 3.2% above |
| 20 week MA | $32.6 | 3% below |
| 50 week MA | $31.7 | 0.3% below |
| 100 week MA | $30.1 | 5% above |
| 200 week MA | $27.7 | 14% above |
IVT's trend is mixed: it's above three of its five weekly moving averages, and 14% above its 200-week average.
IVT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $19.8 | $27.8 | +41% |
| 2022 | $27.8 | $22.8 | -18% |
| 2023 | $22.8 | $25.3 | +11% |
| 2024 | $25.3 | $29.7 | +17% |
| 2025 | $29.7 | $28.6 | -3.8% |
| 2026 YTD | $28.6 | $31.6 | +11% |
IVT has finished higher in three of the last five years. It's up 11% so far in 2026.