InvenTrust Properties Corp. logo IVT - InvenTrust Properties Corp.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 3
HOLD 2
SELL 0
STRONG
SELL
0
| PRICE TARGET: $34.50 DETAILS
HIGH: $36.00
LOW: $33.00
MEDIAN: $34.50
CONSENSUS: $34.50
UPSIDE: 4.90%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Real Estate Investment Trust 85% confidence

Primary model: P/FFO × Retail REIT Multiple

Valuation Signal Undervalued Strong
Trading 80.2% below fair value
Current Price $32.89
Bear Case $139.45 324.0% upside ($139.45 - $32.89) / $32.89 = 324.0% $3.08 FFO × 16x
Fair Value $166.12 405.1% upside ($166.12 - $32.89) / $32.89 = 405.1% $3.08 FFO × 20x
Bull Case $192.79 486.2% upside ($192.79 - $32.89) / $32.89 = 486.2% $3.08 FFO × 23x

Adjust Assumptions

19.5x
3.08$

Key Value Driver

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

Implied Market Multiple 10.7x

Plain-Language Summary

Our base-case estimate uses P/FFO × Retail REIT Multiple. We then blend that result with the average analyst price target of $34.50 from 5 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $166.12 per share.

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.
Dividend-based valuation: $523.36 (163% above our primary estimate). Large gaps suggest the dividend may not fully reflect the company's value.
Wall Street's average price target is $34.50 (from 5 analysts). Our estimate is 477% above the consensus -- consider that gap carefully.

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