Inland Real Estate Income Trust, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 10:06 pm IST
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Inland Real Estate Income Trust, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 38.47 million compared to USD 32.1 million a year ago. Revenue was USD 38.57 million compared to USD 32.15 million a year ago. Net loss was USD 2.31 million compared to USD 2.63 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to USD 0.07 a year ago.
For the six months, sales was USD 74.94 million compared to USD 61.21 million a year ago. Revenue was USD 75.08 million compared to USD 61.29 million a year ago. Net loss was USD 7.56 million compared to USD 3.89 million a year ago. Basic loss per share from continuing operations was USD 0.21 compared to USD 0.11 a year ago.
Inland Real Estate Income Trust, Inc. is a real estate investment trust that acquires and manages a portfolio of commercial real estate investments located in the United States. The Company invests in joint ventures or acquires other real estate assets such as office and medical office buildings, multi-family properties and industrial/distribution and warehouse facilities. It is also focused on investing in real estate-related equity securities of both publicly traded and private real estate companies, as well as commercial mortgage-backed securities (CMBS). The Company's investment properties include Newington Fair, Wedgewood Commons, Park Avenue, North Hills Square, Mansfield Shopping Center, MidTowne Shopping Center, Settlers Ridge, Pick N Save Center, Wilson Marketplace, Regal Court, Pentucket Shopping Center, Blossom Valley Plaza, Branson Hills Plaza, Walgreens Plaza, and Fox Point Plaza. The Company owns approximately 52 retail properties, totaling 7.2 million square feet.
INLAND REAL ESTATE INCOME TRUST, INC. 