InvenTrust Properties Corp. logo IVT - InvenTrust Properties Corp.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 4
HOLD 2
SELL 0
STRONG
SELL
0
| PRICE TARGET: $35.67 DETAILS
HIGH: $38.00
LOW: $32.00
MEDIAN: $37.00
CONSENSUS: $35.67
UPSIDE: 20.45%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Real Estate Investment Trust 85% confidence

Primary model: P/FFO × Retail REIT Multiple

Valuation Signal Undervalued Moderate
Trading 27.1% below fair value
Current Price $29.61
Bear Case $32.88 11.0% upside ($32.88 - $29.61) / $29.61 = 11.0% $3.08 FFO × 12x
Fair Value $40.64 37.2% upside ($40.64 - $29.61) / $29.61 = 37.2% $3.08 FFO × 15x
Bull Case $48.40 63.4% upside ($48.40 - $29.61) / $29.61 = 63.4% $3.08 FFO × 19x

Adjust Assumptions

15.5x
3.08$

Key Value Driver

FFO/share ($3.08) × retail P/FFO multiple

Implied Market Multiple 9.6x

Plain-Language Summary

At $3.08 FFO/share with a 15x retail REIT multiple, the base-case value is $40.64 per share. Dividend yield: 3.3%. DDM cross-check: $24.36.

Analyst Consensus (External Reference)

Never blended into the bear/base/bull estimates above -- shown only as an outside comparison.

Average Target (6 analysts) $35.67
Analyst Range $32.00 – $38.00
Divergence from AlphaVal 14%

Warnings

⚠ Standard profit figures are misleading for real estate companies — large non-cash accounting charges make profits look artificially low. Dividend yield and funds from operations are better measures.
ℹ Dividend-based valuation: $24.36 (40% below our primary estimate). Large gaps suggest the dividend may not fully reflect the company's value.

Key Risks

  • P/E and EV/EBITDA are structurally wrong for REITs — use P/FFO and NAV
  • Interest rate sensitivity: REIT multiples compress when rates rise
  • FFO approximation (NI + D&A) may include gains on property sales — verify