Core Insights - The article emphasizes the importance of thorough analysis in identifying investment opportunities and market trends, highlighting the author's extensive experience in the financial sector [1]. Group 1 - The author has a background in writing for Fade The Market on Seeking Alpha, focusing on providing insightful analysis and research on investment opportunities [1]. - The author is no longer involved with Fade The Market, indicating a shift in focus or strategy [1]. - The expertise developed over ten years includes evaluating market trends and optimizing financial portfolios [1].

CTO Realty Growth (CTO) Q1 2025 Earnings Call May 02, 2025 09:00 AM ET Company Participants Jenna McKinney - Director of FinanceJohn Albright - President and CEOPhilip Mays - Senior VP, CFO & TreasurerRJ Milligan - Managing DirectorRob Stevenson - Managing Director - Head of Real Estate ResearchMatthew Erdner - DirectorGaurav Mehta - Managing DirectorCraig Kucera - MD - Equity Research Conference Call Participants John Massocca - Senior Research Analyst Operator Good day and thank you for standing by. Welco ...

CTO Realty Growth (CTO) Q1 2025 Earnings Call May 02, 2025 09:00 AM ET Company Participants Jenna McKinney - Director of FinanceJohn Albright - President and CEOPhilip Mays - Senior VP, CFO & TreasurerRJ Milligan - Managing DirectorRob Stevenson - Managing Director - Head of Real Estate ResearchMatthew Erdner - DirectorGaurav Mehta - Managing DirectorCraig Kucera - MD - Equity Research Conference Call Participants John Massocca - Senior Research Analyst Operator Good day and thank you for standing by. Welco ...

CTO Realty Growth (CTO) Q1 2025 Earnings Call May 02, 2025 09:00 AM ET Speaker0 Good day and thank you for standing by. Welcome to the CTO Realty Growth First Quarter twenty twenty five Earnings Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your ques ...

Core Insights - CTO Realty reported $35.81 million in revenue for Q1 2025, a year-over-year increase of 27.3% [1] - The earnings per share (EPS) for the same period was $0.49, compared to $0.20 a year ago [1] - The reported revenue exceeded the Zacks Consensus Estimate of $34.91 million by 2.58% [1] - The EPS also surpassed the consensus estimate of $0.48 by 2.08% [1] Revenue Breakdown - Interest Income from Commercial Loan and Investments was $2.96 million, exceeding the estimated $2.72 million [4] - Management Fee Income was $1.18 million, slightly above the estimated $1.14 million, representing a 6.6% increase compared to the previous year [4] - Net Earnings per Share (Diluted) was $0.01, significantly better than the estimated -$0.49 [4] Stock Performance - CTO Realty shares have returned -6% over the past month, while the Zacks S&P 500 composite has changed by -0.7% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

CTO Realty (CTO) came out with quarterly funds from operations (FFO) of $0.49 per share, beating the Zacks Consensus Estimate of $0.48 per share. This compares to FFO of $0.52 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 2.08%. A quarter ago, it was expected that this real estate company would post FFO of $0.48 per share when it actually produced FFO of $0.49, delivering a surprise of 2.08%.Over the last four quarters, the compa ...

May 2025 First Quarter 2025 Investor Presentation Ashley Park | Atlanta, GA Highlights Q1 2025 Highlights | $80mm | Investment activity | | --- | --- | | $225 | Implied property value per square foot | | ~109,400 | Square feet of comparable leasing activity | | 37% | Comparable leasing spread | | 83% | ABR from Georgia, Texas, Florida & North Carolina | | ~191,000 | Portfolio 5-mile population | | 6.6x | Net Debt to Pro Forma Adjusted EBITDA | | 2.4% | Same-Property NOI quarter-over-quarter growth | $496M $ ...

Revenue Performance - Total revenue for Q1 2025 increased to $35.8 million, a 27.3% increase from $28.1 million in Q1 2024, primarily due to increased income from recent property acquisitions and same-store revenue growth [202]. - Revenue from income properties was $31.7 million in Q1 2025, up 28.6% from $24.6 million in Q1 2024, with operating income rising to $22.8 million from $17.8 million [203]. - Interest income from commercial loans and investments reached $3.0 million in Q1 2025, a 119.2% increase from $1.4 million in Q1 2024, driven by new loan originations [205]. Portfolio and Investment Strategy - The current portfolio consists of 18 multi-tenant properties generating $98.3 million in annualized revenue and 6 single-tenant properties generating $5.4 million, both with a weighted average remaining lease term of 4.9 years [199]. - The company focuses on investing in high-quality retail and mixed-use properties in fast-growing, business-friendly markets [191]. - The investment strategy includes a continual review of the existing income property portfolio to identify opportunities for capital recycling based on performance and market conditions [198]. Expenses and Income - Total general and administrative expenses increased by 11.1% to $4.683 million for the three months ended March 31, 2025, compared to $4.216 million in the same period of 2024 [207]. - Depreciation and amortization rose by $3.4 million to $14.3 million for the three months ended March 31, 2025, driven by growth in the income property portfolio [209]. - Net income attributable to the company decreased by $3.5 million to $2.3 million for the three months ended March 31, 2025, primarily due to the absence of gains on asset dispositions [216]. Cash Flows - Cash flows provided by operating activities totaled $10.3 million for the three months ended March 31, 2025, down from $11.8 million in the same period of 2024, a decrease of $1.5 million [218]. - Cash flows used in investing activities increased by $28.6 million to $80.6 million for the three months ended March 31, 2025, compared to $52.0 million in 2024, due to decreased disposition activity [219]. - Cash flows provided by financing activities increased by $31.1 million to $68.3 million for the three months ended March 31, 2025, compared to $37.2 million in 2024 [220]. Acquisitions and Future Investments - The company acquired one multi-tenant income property for $79.5 million during the three months ended March 31, 2025, compared to $71.0 million for acquisitions in the same period of 2024 [222]. - The company expects 2025 investments in income-producing properties to range from $100.0 million to $200.0 million [223]. Shareholder Returns - The company declared and paid dividends of $0.40 for preferred stock and $0.38 for common stock, consistent with the previous year [238]. - Funds from operations (FFO) attributable to common stockholders increased to $14.894 million, up 37.5% from $10.797 million year-over-year [242]. - Adjusted funds from operations (AFFO) attributable to common stockholders rose to $15.521 million, a 33.1% increase compared to $11.648 million in the prior year [242].

Financial Performance - Net income attributable to common stockholders was $0.01 per diluted share, a decrease of 95.0% compared to the prior year[5][6] - Core Funds from Operations (FFO) attributable to common stockholders increased by 34.5% to $14.4 million, or $0.46 per diluted share[5][6] - Adjusted Funds from Operations (AFFO) attributable to common stockholders rose by 33.3% to $15.5 million, or $0.49 per diluted share[5][6] - Same-Property Net Operating Income (NOI) totaled $17.1 million, reflecting a 2.4% increase from the prior year[5][9] - Total revenues for the three months ended March 31, 2025, were $35,811,000, an increase of 27.3% compared to $28,127,000 for the same period in 2024[41] - Same-Property NOI for the three months ended March 31, 2025, was $17,136,000, up 2.4% from $16,727,000 for the same period in 2024[43] - Net income attributable to the Company for the three months ended March 31, 2025, was $2,261,000, a decrease of 61.3% compared to $5,842,000 for the same period in 2024[41] - The Company reported a basic net income attributable to common stockholders of $0.01 per share for the three months ended March 31, 2025, down from $0.21 per share for the same period in 2024[41] - Funds from operations (FFO) attributable to common stockholders increased to $14,894,000, up 38.5% from $10,797,000 year-over-year[46] - Core funds from operations attributable to common stockholders were $14,445,000, compared to $10,737,000 in the prior year, representing a 34.3% increase[46] Debt and Liquidity - As of March 31, 2025, the company had liquidity of $138.4 million, including $8.4 million in cash and $130.0 million of undrawn commitments on its Revolving Credit Facility[5][12] - The company's net debt to Pro Forma Adjusted EBITDA was 6.6 times, and the fixed charge coverage ratio was 2.9 times[12][13] - The total long-term debt as of March 31, 2025, was $603.8 million, with a weighted average interest rate of 4.35%[12][13] - Long-term debt increased to $602,216,000 as of March 31, 2025, compared to $518,993,000 as of December 31, 2024, reflecting a 15.9% increase[39] - Net debt stood at $595,406,000, with a net debt to pro forma adjusted EBITDA ratio of 6.6x[48] Investments and Acquisitions - The company acquired Ashley Park, a 559,000-square-foot lifestyle center in Atlanta, Georgia, for $79.8 million, achieving a going-in cap rate near the high end of guidance[3][7] - Investments planned for 2025 are estimated between $100.0 million and $200.0 million, with a weighted average initial cash yield of 8.0% to 8.5%[19] Guidance and Outlook - The Company reaffirmed its full-year Core FFO and AFFO guidance per diluted share attributable to common stockholders[5] - The Company's 2025 outlook for Core FFO per common share is projected to be between $1.80 and $1.86, while AFFO per common share is expected to range from $1.93 to $1.98[19] - Same-Property NOI growth is anticipated to be approximately 1% compared to the year ended December 31, 2024[19] - General and administrative expenses are projected to be between $17.5 million and $18.0 million for 2025[19] - The estimated Net Loss Attributable to the Company per common share for 2025 is projected to be between $(0.46) and $(0.40)[20] Dividends - A cash dividend of $0.38 per share for common stock was announced, representing a payout ratio of 82.6% of the first quarter 2025 Core FFO attributable to common stockholders[17] - The Company declared and paid dividends of $0.40 per share for preferred stock and $0.38 per share for common stock, consistent with the previous year[41] Operational Metrics - The Company aims to enhance its operating performance by focusing on Same-Property NOI as a key performance metric, which excludes the impact of property acquisitions or dispositions[37] - The Company operates a portfolio of retail-based properties primarily in higher growth markets in the United States[23] Other Financial Metrics - The Company utilized interest rate swaps on a total of $315.0 million across various term loans to fix SOFR, achieving fixed swap rates ranging from 1.27% to 3.85%[1][3][4][5][6] - The Company completed transactions to retire $35,208,000 of 2025 Notes in exchange for 1,089,555 shares of common stock and cash payments totaling $29.0 million[16] - Adjusted EBITDA for the three months ended March 31, 2025, was $21,181,000, with an annualized figure of $84,724,000[48] - Pro forma adjusted EBITDA, reflecting the impact of current quarter investments and dispositions, reached $89,593,000[49] - Interest income from commercial loans and investments increased to $2,961,000 for the three months ended March 31, 2025, compared to $1,351,000 for the same period in 2024, representing a 119.5% increase[41] - The company reported a depreciation and amortization of real estate totaling $14,346,000 for the quarter[46] - Unrealized loss on investment securities was $165,000, a significant decrease from $4,039,000 in the previous year[46] - Distributions to preferred stockholders increased to $1,878,000 from $1,187,000 year-over-year[46]

– Acquired one property for $79.8 million –– Signed comparable leases on 109,000 square feet for growth of 37.2% –– Current signed-not-open pipeline of $4.0 million – WINTER PARK, Fla., May 01, 2025 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”), an owner and operator of retail-based properties located primarily in higher-growth markets, today announced its operating and financial results for the quarter ended March 31, 2025. First Quarter 2025 Highlights Net Income attribu ...