<p>InvenTrust Properties Corp 最近的財報電話會議傳達了一種總體積極的情緒，強調了強勁的財務表現、戰略資本再部署和高入住率。然而，討論中也突出了若干擔憂，包括潛在的入住率下降、家庭債務上升以及預計在第四季度增加的費用。</p>
<h2>強勁的 FFO 增長</h2>
<p>InvenTrust 報告稱第三季度 NAREIT 運營資金（FFO）顯著增長，達到 3840 萬美元或每股稀釋後 0.49 美元。這比去年同期增長了 8.9%，展示了公司的強大財務健康和有效的管理策略。</p>
<h2>同物業淨營業收入增長</h2>
<p>公司在同物業淨營業收入（NOI）方面實現了顯著增長，本季度增長超過 6%。截至目前為止，同物業 NOI 總計為 1.283 億美元，比 2024 年前九個月增長了 5.9%。這一增長反映了公司在提升物業價值和運營效率方面的成功努力。</p>
<h2>高入住率</h2>
<p>InvenTrust 維持了令人印象深刻的入住率，總租賃入住率為 97.2%。小商鋪租賃入住率為 93.8%，而主力店鋪的入住率幾乎滿租，達到 99.3%。這些數據表明了強勁的需求和有效的租賃策略。</p>
<h2>成功的資本再部署</h2>
<p>公司成功地將出售加州投資組合的收益再投資於高增長的陽光帶市場。這一戰略舉措包括在阿什維爾和夏洛特的收購，為 InvenTrust 在這些有前景的地區的未來增長奠定了基礎。</p>
<h2>潛在的入住率下降</h2>
<p>儘管目前的入住率很高，但預計隨着年末的臨近，小商鋪的入住率將略有下降。然而，公司預計到 2026 年入住率將重新加速增長，這表明這只是暫時的下滑，而非長期趨勢。</p>
<h2>家庭債務增加和消費者信心減弱</h2>
<p>財報電話會議強調了對家庭債務水平上升和消費者信心減弱的擔憂。儘管面臨這些挑戰，InvenTrust 中心的消費者行為依然強勁，表明對零售空間的需求穩定。</p>
<h2>後期物業運營費用增加</h2>
<p>InvenTrust 預計由於後期物業運營費用增加和剩餘壞賬準備金，第四季度的財務表現將放緩。這一預計的費用增加是未來幾個月需要關注的因素。</p>
<h2>前瞻性指導</h2>
<p>展望未來，InvenTrust 預計將繼續保持財務實力，預計 2025 年第三季度同物業 NOI 將增長 6.4%。公司已將全年同物業 NOI 指導提高至 4.75% 至 5.25% 之間，並將 NAREIT FFO 指導中點調整為每股 1.87 美元。儘管預計會有一些費用增加，InvenTrust 仍保持着穩健的資產負債表，具有顯著的流動性和有利的淨債務與調整後 EBITDA 比率。</p>
<p>總之，InvenTrust Properties Corp 的財報電話會議反映了積極的前景，得益於強勁的財務業績和戰略市場定位。儘管面臨潛在的入住率下降和費用增加等挑戰，但公司的強勁表現和戰略舉措使其在未來增長中處於良好位置。</p>

<p>InvenTrust Properties Corp 的財報電話會議強調了強勁的財務表現，NAREIT 運營基金（FFO）顯著增長 8.9%，達到 3840 萬美元。公司報告同物業淨營業收入（NOI）增長 6%，並保持高達 97.2% 的入住率。戰略性資本重新部署到高增長市場取得了成功，儘管也提到了對潛在入住率下降和費用增加的擔憂。展望未來，InvenTrust 預計繼續增長，預計 2025 年第三季度同物業 NOI 將增長 6.4%，儘管面臨家庭債務和運營費用上升的挑戰</p>

<p>InvenTrust Properties Corp’s recent earnings call conveyed a generally positive sentiment, underscored by strong financial performance, strategic capital redeployment, and high occupancy rates. However, the discussion also highlighted some concerns, including potential occupancy declines, rising household debt, and increased expenses anticipated in the fourth quarter.</p>
<div class="lb-trans"><p>InvenTrust Properties Corp 最近的財報電話會議傳達了一種總體積極的情緒，強調了強勁的財務表現、戰略資本再部署和高入住率。然而，討論中也突出了若干擔憂，包括潛在的入住率下降、家庭債務上升以及預計在第四季度增加的費用。</p>
</div><h2>Strong FFO Growth</h2>
<div class="lb-trans"><h2>強勁的 FFO 增長</h2>
</div><p>InvenTrust reported a notable increase in NAREIT Funds From Operations (FFO) for the third quarter, reaching $38.4 million or $0.49 per diluted share. This represents an 8.9% growth compared to the same period last year, showcasing the company’s robust financial health and effective management strategies.</p>
<div class="lb-trans"><p>InvenTrust 報告稱第三季度 NAREIT 運營資金（FFO）顯著增長，達到 3840 萬美元或每股稀釋後 0.49 美元。這比去年同期增長了 8.9%，展示了公司的強大財務健康和有效的管理策略。</p>
</div><h2>Same-Property NOI Increase</h2>
<div class="lb-trans"><h2>同物業淨營業收入增長</h2>
</div><p>The company achieved a significant rise in same-property Net Operating Income (NOI), which grew over 6% for the quarter. Year-to-date, the same-property NOI totaled $128.3 million, marking a 5.9% increase over the first nine months of 2024. This growth reflects the company’s successful efforts in enhancing property value and operational efficiency.</p>
<div class="lb-trans"><p>公司在同物業淨營業收入（NOI）方面實現了顯著增長，本季度增長超過 6%。截至目前為止，同物業 NOI 總計為 1.283 億美元，比 2024 年前九個月增長了 5.9%。這一增長反映了公司在提升物業價值和運營效率方面的成功努力。</p>
</div><h2>High Occupancy Rates</h2>
<div class="lb-trans"><h2>高入住率</h2>
</div><p>InvenTrust maintained impressive occupancy rates, with total lease occupancy at 97.2%. Small shop lease occupancy stood at 93.8%, while anchor space occupancy was nearly full at 99.3%. These figures indicate strong demand and effective leasing strategies.</p>
<div class="lb-trans"><p>InvenTrust 維持了令人印象深刻的入住率，總租賃入住率為 97.2%。小商鋪租賃入住率為 93.8%，而主力店鋪的入住率幾乎滿租，達到 99.3%。這些數據表明了強勁的需求和有效的租賃策略。</p>
</div><h2>Successful Capital Redeployment</h2>
<div class="lb-trans"><h2>成功的資本再部署</h2>
</div><p>The company successfully completed the redeployment of proceeds from the sale of its California portfolio into high-growth Sunbelt markets. This strategic move included acquisitions in Asheville and Charlotte, positioning InvenTrust for future growth in these promising regions.</p>
<div class="lb-trans"><p>公司成功地將出售加州投資組合的收益再投資於高增長的陽光帶市場。這一戰略舉措包括在阿什維爾和夏洛特的收購，為 InvenTrust 在這些有前景的地區的未來增長奠定了基礎。</p>
</div><h2>Potential Occupancy Decline</h2>
<div class="lb-trans"><h2>潛在的入住率下降</h2>
</div><p>While occupancy rates are currently high, there is an expectation of a slight decline in small shop occupancy as the year ends. However, the company anticipates a reacceleration in occupancy rates by 2026, suggesting a temporary dip rather than a long-term trend.</p>
<div class="lb-trans"><p>儘管目前的入住率很高，但預計隨着年末的臨近，小商鋪的入住率將略有下降。然而，公司預計到 2026 年入住率將重新加速增長，這表明這只是暫時的下滑，而非長期趨勢。</p>
</div><h2>Increased Household Debt and Weakened Consumer Confidence</h2>
<div class="lb-trans"><h2>家庭債務增加和消費者信心減弱</h2>
</div><p>The earnings call highlighted concerns about rising household debt levels and weakened consumer confidence. Despite these challenges, consumer behavior in InvenTrust’s centers remains resilient, indicating a stable demand for retail spaces.</p>
<div class="lb-trans"><p>財報電話會議強調了對家庭債務水平上升和消費者信心減弱的擔憂。儘管面臨這些挑戰，InvenTrust 中心的消費者行為依然強勁，表明對零售空間的需求穩定。</p>
</div><h2>Backloaded Property Operating Expenses</h2>
<div class="lb-trans"><h2>後期物業運營費用增加</h2>
</div><p>InvenTrust expects a deceleration in financial performance in the fourth quarter due to higher backloaded property operating expenses and remaining bad debt reserves. This anticipated increase in expenses is a factor to watch in the coming months.</p>
<div class="lb-trans"><p>InvenTrust 預計由於後期物業運營費用增加和剩餘壞賬準備金，第四季度的財務表現將放緩。這一預計的費用增加是未來幾個月需要關注的因素。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指導</h2>
</div><p>Looking ahead, InvenTrust projects continued financial strength, with same-property NOI expected to increase by 6.4% in the third quarter of 2025. The company has raised its full-year same-property NOI guidance to between 4.75% and 5.25% and adjusted its NAREIT FFO guidance midpoint to $1.87 per share. Despite some anticipated expense increases, InvenTrust maintains a solid balance sheet with significant liquidity and a favorable net debt to adjusted EBITDA ratio.</p>
<div class="lb-trans"><p>展望未來，InvenTrust 預計將繼續保持財務實力，預計 2025 年第三季度同物業 NOI 將增長 6.4%。公司已將全年同物業 NOI 指導提高至 4.75% 至 5.25% 之間，並將 NAREIT FFO 指導中點調整為每股 1.87 美元。儘管預計會有一些費用增加，InvenTrust 仍保持着穩健的資產負債表，具有顯著的流動性和有利的淨債務與調整後 EBITDA 比率。</p>
</div><p>In conclusion, InvenTrust Properties Corp’s earnings call reflected a positive outlook, driven by strong financial results and strategic market positioning. While some challenges loom, such as potential occupancy declines and increased expenses, the company’s robust performance and strategic initiatives position it well for future growth.</p>
<div class="lb-trans"><p>總之，InvenTrust Properties Corp 的財報電話會議反映了積極的前景，得益於強勁的財務業績和戰略市場定位。儘管面臨潛在的入住率下降和費用增加等挑戰，但公司的強勁表現和戰略舉措使其在未來增長中處於良好位置。</p>
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InvenTrust Properties Corp 的財報電話會議突顯出強勁的增長