InvenTrust Properties Corp., a real estate investment trust, has received authorization to list its common stock on the New York Stock Exchange. Trading is expected to begin October 12, 2021, under the ticker symbol “IVT.”
“This is a significant achievement for the company,” said said Daniel Busch, president and chief executive officer. “We believe the listing will bring InvenTrust exposure to a large and diverse group of investors, as well as provide liquidity in the most efficient manner for our current shareholders.”
On August 5, 2021, the company effected a 1-for-10 reverse stock split of its common stock, where every 10 shares of outstanding common stock were changed into one share of common stock. Prior to the reverse stock split, the company’s most recent net asset value per share was $2.89 as of December 1, 2020, thus the new estimated value is $28.90 per share.
InvenTrust Properties, formerly known as Inland American Real Estate Trust, invests in grocery-anchored shopping centers in the Sun Belt region of the U.S. The offering launched in August 2005, became a self-managed REIT in 2014, and oversees a portfolio of 65 retail properties, representing 10.8 million square feet of retail space.