The board of InvenTrust Properties Corp., a publicly registered non-traded real estate investment trust, has approved an approximately 3 percent increase to InvenTrust’s annual distribution rate.
The distribution rate will increase from $0.0716 per share of common stock to $0.0737 per share of common stock, effective January 2019 and payable on the April 2019 quarterly distribution.
Distributions payable on April 5, 2019 will be in the amount of $0.018437 per share of common stock to each stockholder of record as of the close of business on March 31, 2019.
“We are pleased to announce our third consecutive three percent increase in our annual distribution rate,” said Thomas McGuinness, president and chief executive officer of InvenTrust. “The decision to increase our distribution underscores the board’s continued confidence in the company’s financial position and portfolio strategy.”
InvenTrust Properties, formerly known as Inland American Real Estate Trust, focuses on open air retail centers in growth markets. The offering was declared effective in August 2005 and closed in April 2009 after raising $8.4 billion, according to Summit Investment Research. The company became a self-managed REIT in 2014 and oversees a $3.6 billion portfolio of 77 retail properties, as of the third quarter of 2018.