$INRE

Inland Real Estate Income Trust, Inc.

CIK:0001528985|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income:
Rental income	$ 37,783	$ 38,038	$ 76,516	$ 76,794
Other property income	58	87	235	136
Total income	37,841	38,125	76,751	76,930
Expenses:
Property operating expenses	7,908	8,026	16,555	16,610
Real estate tax expense	4,688	4,604	9,399	9,108
General and administrative expenses	1,427	1,397	2,751	3,321
Business management fee	2,343	2,245	4,670	4,487
Depreciation and amortization	15,397	14,272	29,691	28,737
Total expenses	31,763	30,544	63,066	62,263
Other Income (Expense):
Interest expense	(10,036)	(9,792)	(19,930)	(19,519)
Interest and other income	(40)	(55)	(78)	(95)
Gain on sale of investment property	4,985	0	4,985	0
Net income (loss)	$ 1,067	$ (2,156)	$ (1,182)	$ (4,757)
Net income (loss) per common share, basic	$ 0.03	$ (0.06)	$ (0.03)	$ (0.13)
Net income (loss) per common share, diluted	$ 0.03	$ (0.06)	$ (0.03)	$ (0.13)
Weighted average number of common shares outstanding, basic	36,061,113	36,104,130	36,085,475	36,104,130
Weighted average number of common shares outstanding, diluted	36,068,394	36,104,130	36,085,475	36,104,130
Comprehensive income (loss):
Net income (loss)	$ 1,067	$ (2,156)	$ (1,182)	$ (4,757)
Unrealized gain (loss) on derivatives	5,129	(372)	8,805	(2,869)
Reclassification adjustment for amounts included in net income (loss)	(1,893)	(2,931)	(3,814)	(5,831)
Comprehensive income (loss)	$ 4,303	$ (5,459)	$ 3,809	$ (13,457)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (1,182)	$ (4,757)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	29,691	28,737
Gain on sale of investment property	(4,985)	0
Amortization of debt issuance costs	655	598
Amortization of acquired market leases, net	(158)	(233)
Amortization of equity-based compensation	76	68
Reduction in the carrying amount of the right-of-use-asset	176	186
Straight-line income, net	(290)	(1,022)
Other non-cash adjustments	122	97
Changes in assets and liabilities:
Accounts payable and accrued expenses	759	1,754
Accounts and rent receivable	822	1,078
Other assets	242	(46)
Due to related parties	151	104
Operating lease liability	164	153
Other liabilities	(1,700)	(119)
Net cash flows provided by operating activities	24,543	26,598
Cash flows from investing activities:
Capital expenditures	(9,540)	(8,079)
Proceeds from sale of investment property	30,327	0
Net cash flows provided by (used in) investing activities	20,787	(8,079)
Cash flows from financing activities:
Payment of credit facility	(32,000)	(7,000)
Proceeds from credit facility	19,000	4,000
Payment of mortgages payable	(18,727)	(176)
Proceeds from distribution reinvestment plan	20	0
Shares repurchased	(1,001)	0
Distributions paid	(9,798)	(9,796)
Net cash flows used in financing activities	(42,506)	(12,972)
Net increase in cash, cash equivalents and restricted cash	2,824	5,547
Cash, cash equivalents and restricted cash, at beginning of the period	8,419	6,896
Cash, cash equivalents and restricted cash, at end of period	11,243	12,443
Supplemental disclosure of cash flow information:
Cash paid for interest	19,208	19,353
Supplemental schedule of non-cash investing and financing activities:
Accrued capital expenditures	$ 1,464	$ 1,483

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Investment properties held and used:
Land	$ 319,666	$ 330,456
Building and other improvements	1,230,713	1,245,978
Total	1,550,379	1,576,434
Less accumulated depreciation	(450,930)	(435,242)
Net investment properties held and used	1,099,449	1,141,192
Cash and cash equivalents	10,831	7,951
Restricted cash	412	468
Accounts and rent receivable	25,726	26,845
Acquired lease intangible assets, net	35,488	39,355
Operating lease right-of-use asset, net	12,816	12,992
Other assets	22,580	19,125
Total assets	1,207,302	1,247,928
Liabilities:
Mortgages and credit facility payable, net	806,403	837,475
Accounts payable and accrued expenses	10,968	10,641
Operating lease liability	25,762	25,598
Distributions payable	4,891	4,899
Acquired intangible liabilities, net	29,270	30,761
Due to related parties	2,945	2,700
Other liabilities	8,591	10,496
Total liabilities	888,830	922,570
Commitments and contingencies (Note 10)
Stockholders’ equity:
Preferred stock, $.001 par value, 40,000,000 shares authorized, none outstanding
Common stock, $.001 par value, 1,460,000,000 shares authorized, 36,052,080 and 36,110,108 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	36	36
Additional paid in capital	815,374	816,279
Accumulated distributions and net loss	(509,037)	(498,065)
Accumulated other comprehensive income	12,099	7,108
Total stockholders’ equity	318,472	325,358
Total liabilities and stockholders’ equity	$ 1,207,302	$ 1,247,928