Does InvenTrust Properties have a share repurchase program?
On June 26, 2020, InvenTrust repurchased over 2 million shares through the Company’s Share Repurchase Program at the program’s stated price of $2.355. All shares requested in the first three categories of the SRP – Death, Qualifying Disability or Required Minimum Distribution were repurchased in full by InvenTrust. Unfortunately, due to insufficient funds raised through the Dividend Reinvestment Program, no shares from the General category were repurchased by the Company.
Please note, in a letter dated June 11, 2020 to shareholders, the Board announced the suspension of the SRP, effective July 11, 2020. After July 11th, the SRP portal will no longer accept new SRP requests, but you will be able to request a withdrawal. If you’d like to withdraw your request you must sign back into your account at https://www.inventrustsrp.com/ and set your shares to a zero repurchase. No action is required if you want your shares to remain in the SRP queue if or when the program is reinstated.
Are distributions I receive taxable?
Yes, for tax purposes, any distributions that you receive generally will be considered ordinary income to the extent that the distributions are paid out of InvenTrust Properties’s current and accumulated earnings and profits (excluding distributions of amount either subject to corporate-level taxation or designated as a capital gain dividend). However, because certain items such as depreciation expense, for example, reduce taxable income but do not reduce cash available for distribution, a portion of your distributions may be considered a return of capital for tax purposes up to the amount of your tax basis in your shares (and any distributions in excess of your tax basis will result in capital gain). The amount of distributions considered a return of capital will not be subject to tax immediately but will instead reduce the tax basis of your investment in effect deferring a portion of your tax until you sell your shares or InvenTrust Properties liquidates. Because each investor’s tax implications are different, you should consult with your tax advisor. The Form 1099 described below will report to you, each year, the portion of your distribution that is considered ordinary income and the portion that is considered a return of capital (or capital gain).
When will I get my tax information?
Your Form 1099 tax information will be mailed by February 15th of each year.
Do you have a reinvestment program through which I can reinvest my distributions in additional shares?
You can register online via Computershare’s Investor Center or call our Investor Services team at 855-377-0510 to have them walk you through the registration process.
On June 11, 2020, InvenTrust Properties announced that it has suspended the Distribution Reinvestment Plan (“DRP”), effective July 11, 2020. For shareholders in the DRP, all distributions will be paid in the form of a check or ACH wire to their account starting with the July distribution payment.