Core Insights - CTO Realty Growth, Inc. reported strong operating results for Q3 2024, with net income per diluted share of $0.17 and significant increases in Core FFO and AFFO [1][2] - The company raised $125.7 million through its common stock ATM offering and closed a new $100 million unsecured term loan with an initial effective interest rate of 4.7% [1][2] - Full-year guidance for Core FFO was increased to a range of $1.83 to $1.87 per diluted share, and for AFFO to a range of $1.96 to $2.00 per diluted share [1][21] Quarterly Financial Results Highlights - Net income attributable to common stockholders increased to $4.35 million, a 191.7% increase from the prior year [2] - Core FFO attributable to common stockholders was $12.63 million, up 20.8% year-over-year, with Core FFO per diluted share at $0.50, a 6.4% increase [2] - AFFO attributable to common stockholders reached $13.14 million, a 22.1% increase, with AFFO per diluted share at $0.51, a 6.3% increase [2] Investment Activities - The company invested $191.3 million in Q3 2024, achieving a weighted average yield of 9.5% [7] - Key investments included the acquisition of three open-air shopping centers for $137.5 million and a $43.8 million first mortgage loan with an initial yield of 11% [7] - Year-to-date investments totaled $273.8 million, with a weighted average cash yield of 9.1% [8] Dispositions - In Q3 2024, the company sold a property for $18.0 million at an exit cap rate of 9.2% [9] - Year-to-date, two retail properties were sold for $38.0 million, generating an aggregate gain of $3.8 million [9] Portfolio Summary - As of September 30, 2024, the company's portfolio consisted of 22 properties with a total of 4.6 million square feet and a leased occupancy rate of 95.8% [10] - The portfolio is primarily retail-focused, with 66.5% of cash base rent coming from retail properties [10] Same-Property Net Operating Income (NOI) - Same-Property NOI for Q3 2024 totaled $16.8 million, reflecting a 6.3% increase from the prior year [11] - Year-to-date Same-Property NOI was $44.6 million, a 5.1% increase compared to the same period last year [12] Leasing Activity - In Q3 2024, the company signed 20 leases totaling 201,806 square feet, with a comparable cash base rent growth of 12.0% [13] - Year-to-date, 54 leases were signed totaling 384,513 square feet, with a comparable cash base rent growth of 26.0% [14] Capital Markets and Balance Sheet - The company issued 6,851,375 common shares under its ATM offering program, raising $125.7 million [15] - As of September 30, 2024, the company had $213 million in liquidity and a net debt to total enterprise value ratio of 43.1% [15][19] Dividends - A cash dividend of $0.38 per share was declared for common stock, representing a payout ratio of 76.0% of the company's Q3 2024 Core FFO per share [20] 2024 Outlook - The company revised its 2024 outlook, projecting Same-Property NOI growth of 4% to 6% and total investments between $300 million and $350 million [21]

CTO Realty Growth, Inc. (NYSE: CTO ) is a high dividend-yield stock with incredible growth potential, resulting from its strategic locations in blooming regions in the U.S. It's also cheaply valued compared to otherUnderstanding Behavioral Finance is at the core of Mapache Investing's philosophy. We view the markets through the lenses of psychology and aim to avoid the common pitfalls and biases that are the primary causes of losses. With a strong foundation in both value and growth investing, our goal is t ...

CTO Realty Growth, Inc. (CTO) is slated to report third-quarter 2024 results on Oct. 24, after the closing bell. In anticipation of the announcement, industry analysts and investors are eager to assess the company's performance and prospects in the current economic climate.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.In the last reported quarter, this Winter Park, FL-based retail real estate investment trust (REIT) reported adjusted funds from operations (AFFO) per share of 48 ce ...

Group 1 - The article promotes iREIT on Alpha as a source for in-depth research on various income alternatives including REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs [1] - It highlights the positive feedback from users, with 438 testimonials, most of which are rated 5 stars, indicating high satisfaction [1] Group 2 - There is a disclosure stating that the author has no stock, option, or similar derivative positions in any of the mentioned companies and no plans to initiate such positions in the next 72 hours [2] - The article emphasizes that past performance is not indicative of future results and that no specific investment recommendations are provided [3]

Core Insights - CTO Realty Growth, Inc. has closed $274 million in investments year-to-date, with a weighted average yield of 9.1% [1][2][7] - The company raised $126 million under its ATM program in the third quarter, issuing approximately 6.9 million common shares at a weighted average price of $18.63 per share [1][4] - A new five-year $100 million unsecured term loan was closed, with an initial effective fixed interest rate of 4.7% [1][5] Investment Activity - The company's investment activity for the third quarter amounted to $191.3 million, bringing the year-to-date total to $273.8 million [2] - The company has exceeded its 2024 guidance for investment activity and plans to provide updated guidance during the full third quarter results announcement on October 24, 2024 [2] Financing Activity - The company originated a $43.8 million first mortgage loan with an initial fixed interest rate of 11% and an origination fee of 1.25%, secured by land for a mixed-use development in Herdon, Virginia [3] - As of September 30, 2024, the company had approximately $200 million of borrowing capacity available under its revolving credit facility [6] Company Overview - CTO Realty Growth, Inc. specializes in owning and operating high-quality, open-air shopping centers in the Southeast and Southwest markets of the United States [8] - The company also manages and holds a significant interest in Alpine Income Property Trust, Inc. [8]

Investors in CTO Realty Growth, Inc. (CTO) need to pay close attention to the stock based on moves in the options market lately. That is because the Nov 15, 2024 $15 Put had some of the highest implied volatility of all equity options today. What is Implied Volatility? Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could ...

I am focused on growth and dividend income. My personal strategy revolves around setting myself up for an easy retirement by creating a portfolio which focuses on compounding dividend income and growth. Dividends are an intricate part of my strategy as I have structured my portfolio to have monthly dividend income which grows through dividend reinvestment and yearly increases. Feel free to reach out to me on Seeking Alpha Analyst's Disclosure: I/we have a beneficial long position in the shares of PTY, CTO, ...

WINTER PARK, Fla., Sept. 25, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth (NYSE: CTO) (the "Company") announced today that it will report its financial and operating results for the third quarter of 2024 after the market closes on Thursday, October 24, 2024. The Company will host a conference call to discuss its financial and operating results for the third quarter of 2024 at 9:00 AM ET on Friday, October 25, 2024. A live webcast of the call will be available on the Investor Relations page of the Company's we ...

Here are three stocks with buy rank and strong income characteristics for investors to consider today, September 16th: Delek Logistics Partners (DKL) : This company which owns, operates, acquires and constructs crude oil and refined products logistics and marketing assets, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.3% over the last 60 days. This Zacks Rank #1 (Strong Buy) company has a dividend yield of 10.4%, compared with the industry average of 7.3%. CTO Realty ...

jetcityimage/iStock Editorial via Getty Images CTO Realty Growth (NYSE:CTO) has been a quiet juggernaut in the retail REIT space, up 18% on a total return basis year-to-date and last declaring a quarterly cash dividend of $0.38 per share, unchanged from the prior period and $1.52 per share for an 8% annualized dividend yield. I last overed the REIT in May, when there was still material uncertainty around when the Fed would start paring bock interest rates. Market confidence around the start of rate cuts has ...