Financial Data and Key Metrics Changes - The company reported core FFO of $1.88 per share for 2024, a 6% increase from $1.77 per share in 2023 [5][22] - FFO for Q4 2024 was $14.2 million, up from $10.8 million in Q4 2023, with core FFO at $0.46 per share compared to $0.48 per share in the same quarter of the previous year [22] - Total enterprise value rose by 33% to approximately $1.3 billion, with net debt to EBITDA improving to 6.3 times [10][19] Business Line Data and Key Metrics Changes - The company achieved a weighted average yield of 9.3% from $227 million in retail property acquisitions and $104 million in structured investments [6] - Leasing activity for the full year reached over 450,000 square feet at an average rent of $24.07 per square foot, with a positive cash lease spread of 23% [11] - The signed not open leasing pipeline represents almost 6% of in-place cash rents, with expected rent commencement weighted towards the second half of 2025 [12] Market Data and Key Metrics Changes - The company expanded its portfolio by 1 million square feet, a 26% increase, bringing the total to 4.7 million square feet [9] - The company completed its first investment in the Charlotte, North Carolina market while expanding in Orlando and Tampa [10] Company Strategy and Development Direction - The company plans to continue its acquisition strategy, anticipating one or two acquisitions in the near term [17] - The focus remains on high-quality investments with attractive yields, particularly in the Southeast and Southwest markets [6][17] - The company is negotiating with several anchor tenants for undeveloped land adjacent to its shopping center, targeting earnings contribution by late 2026 [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong tenant demand for high-quality properties, despite recent retailer bankruptcies [13] - The company expects to recognize over 50% of the signed not open leasing pipeline in 2025, with full benefits in 2026 [12][25] - Management highlighted a robust acquisition pipeline and the potential for significant earnings growth in 2026 [16][17] Other Important Information - The company raised net proceeds of $33 million in Q4 2024, totaling $165 million for the year, which represents over 40% of its common equity market capitalization at the beginning of 2024 [19] - The company plans to settle its convertible notes in cash, with a potential impact of approximately $0.05 per share in 2025 [24] Q&A Session Summary Question: Clarification on convertible notes settlement - The company intends to settle the convertible notes in cash, with no expectation of share issuance [28] Question: Guidance on 2025 acquisitions and structured investments - Currently, the focus is on core acquisition opportunities, with structured investments expected later in the year [32] Question: NOI guidance and trends - NOI is expected to trend evenly, with potential increases in the fourth quarter [34] Question: Timing of rent commencement for new leases - Most new leases are expected to commence in the first half of 2026, with some potentially delayed [68] Question: Performance of AMCs and tenant interest - AMCs are performing well, and the company is optimistic about tenant interest in new spaces [48][72] Question: CapEx impact on 2025 outlook - The CapEx outlook for 2025 includes an incremental $9 million to $12 million, impacting the overall spread [78] Question: Market conditions for acquisitions - The company is not seeing significant acquisition opportunities due to recent retailer bankruptcies, but expects large trades to emerge [106] Question: Outlook for 2025 lease expirations - The company anticipates positive rent trends with no roll-down situations [116]

February 2025 Fourth Quarter 2024 Investor Presentation Ashford Lane | Atlanta, GA Highlights FY 2024 Highlights | 26% | Square feet year-over-year growth | | --- | --- | | $331mm | Investment activity 1 | | 33% | Total enterprise value year-over-year growth | | $231 | Implied property value per square foot | | ~452,000 | Square feet of leasing activity | | 23% | Comparable leasing spread | | 81% | ABR from Georgia, Texas, Florida & North Carolina | | ~203,000 | Portfolio 5-mile population | | 6.3x | Net De ...

分组1 - CTO Realty reported quarterly funds from operations (FFO) of $0.49 per share, exceeding the Zacks Consensus Estimate of $0.48 per share, but down from $0.52 per share a year ago, representing an FFO surprise of 2.08% [1] - The company posted revenues of $35.74 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 4.80%, compared to year-ago revenues of $29.89 million [2] - CTO Realty has consistently surpassed consensus FFO and revenue estimates over the last four quarters [2] 分组2 - The stock's immediate price movement will depend on management's commentary during the earnings call and future FFO expectations [3][4] - CTO Realty shares have increased by approximately 2.6% since the beginning of the year, while the S&P 500 has gained 4.5% [3] - The current consensus FFO estimate for the coming quarter is $0.51 on revenues of $34.96 million, and for the current fiscal year, it is $2.05 on revenues of $143.78 million [7] 分组3 - The Zacks Industry Rank indicates that the REIT and Equity Trust - Other sector is currently in the bottom 33% of over 250 Zacks industries, which may impact stock performance [8] - Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions, suggesting that investors should monitor these revisions closely [5][6]

Financial Performance - Total revenues for the year ended December 31, 2024, increased to $124.5 million, up 14.1% from $109.1 million in 2023[17] - The company’s operating income for the year ended December 31, 2024, was $17.6 million, down from $26.5 million in 2023[17] - The company’s total assets increased to $1.18 billion as of December 31, 2024, compared to $989.7 million in 2023[17] Property Acquisitions and Sales - The company acquired five multi-tenanted retail income properties for an aggregate purchase price of $226.8 million, with a total acquisition cost of $224.4 million[27] - The company sold two income properties for an aggregate sales price of $38.0 million, resulting in total gains of $3.8 million[28] - The company recorded a $0.9 million impairment charge on the sale of the Westcliff Property, with the sale closing on October 12, 2023[38] Portfolio and Revenue Generation - The current portfolio of 17 multi-tenant properties generates $87.2 million in revenue from annualized straight-line base lease payments[29] - The weighted average remaining lease term for the current portfolio of multi-tenant properties was 4.8 years as of December 31, 2024[29] - The weighted average economic occupancy rate for single-tenant properties remained at 100% for the last three years[32] Investment Strategy and Risks - The company plans to focus on investing in multi-tenanted, retail-based income-producing properties in faster growing, business-friendly markets[19] - The company’s ability to generate lease revenue is dependent on the successful operation of its tenants, and any failure could adversely impact its financial performance[77] - The company faces risks related to compliance with environmental laws, which may require significant expenditures to address potential violations[69] Environmental Liabilities - The company is subject to significant environmental liabilities which could materially and adversely affect its financial condition and results of operations[70] - The company may incur substantial costs for environmental remediation, which could exceed the value of the properties involved[63] - The company faces potential liabilities under environmental laws that could adversely affect its financial condition and cash flows[171] Market and Economic Conditions - The company’s revenue is concentrated in specific industry classifications and geographic locations, making it vulnerable to downturns in those areas[77] - Adverse economic conditions, such as high unemployment and increased interest rates, could negatively impact tenants' ability to make rental payments[84] - The company operates in a highly competitive market for acquiring income properties, facing competition from larger entities with greater resources[94] Debt and Financial Obligations - The company has a total debt of $51.0 million in 3.875% Convertible Senior Notes due 2025, which may impact its ability to service debt obligations[146] - Future cash flow generation is uncertain and may not be sufficient to meet debt service obligations, potentially leading to asset sales or restructuring[147] - Increased indebtedness could limit operational flexibility and expose the company to economic fluctuations, including rising interest rates[149] REIT Compliance and Taxation - The company must comply with REIT requirements to avoid being taxed as a regular corporation, which would reduce funds available for distributions to stockholders[81] - Failure to qualify as a REIT could substantially reduce funds available for distributions to stockholders and impair the company's ability to raise capital[180] - The company must maintain its REIT qualification by distributing at least 90% of its taxable income to avoid U.S. federal corporate income tax[185] Management and Operational Risks - The loss of key management personnel could negatively impact the company's operations and ability to execute business strategies[208] - The company faces potential conflicts of interest due to overlapping executive officers and directors with PINE, which may affect decision-making[111] - The company has limited experience operating under REIT constraints, which may hinder its ability to achieve investment objectives[188] Insurance and Risk Management - The Company’s income-producing properties are generally covered by comprehensive liability, fire, and extended insurance coverage[209] - Insurance costs for certain types of losses, such as natural disasters or acts of violence, may not be economically justifiable[209] - The Company believes the insurance carried on its properties is adequate and in accordance with industry standards[209]

Financial Performance - Core Funds from Operations (Core FFO) for the full year 2024 reached $1.88 per diluted share, an increase of 6.2% compared to 2023[8] - The company reported a net loss per diluted share of $(0.35) for the full year 2024, compared to a profit of $0.03 in 2023[8] - Same-Property Net Operating Income (NOI) for the year ended December 31, 2024, totaled $60.4 million, reflecting a 4.0% increase from the prior year[17] - Total revenues for the three months ended December 31, 2024, increased to $35,742 thousand, up 19% from $29,885 thousand in the same period of 2023[52] - Net income attributable to common stockholders for the three months ended December 31, 2024, was a loss of $17,095 thousand, compared to a profit of $5,850 thousand in the same period of 2023[52] - Same-Property NOI for the year ended December 31, 2024, was $60,441 thousand, an increase from $58,123 thousand in 2023[54] - Funds from operations attributable to common stockholders for the year ended December 31, 2024, totaled $48,129 thousand, compared to $37,480 thousand in 2023[56] - Basic net income (loss) attributable to common stockholders per share for the three months ended December 31, 2024, was $(0.56), compared to $0.26 in the same period of 2023[52] - Total operating expenses for the three months ended December 31, 2024, were $43,045 thousand, significantly higher than $23,682 thousand in the same period of 2023[52] - Interest expense for the year ended December 31, 2024, was $22,521 thousand, slightly higher than $22,359 thousand in 2023[52] Investments and Capital - The company closed investments totaling $330.8 million in 2024, achieving a weighted average initial cash yield of 9.3%[11] - The company raised net proceeds of $165.2 million under its common stock ATM offering program in 2024[5] - The company invested $57.0 million in the fourth quarter of 2024, achieving a weighted average initial cash yield of 10.2%[10] - The Company anticipates investments between $100.0 million and $200.0 million in 2025, with a weighted average initial cash yield between 8.0% and 8.5%[30] Debt and Equity - The total long-term debt as of December 31, 2024, amounted to $520.8 million, with a weighted average interest rate of 4.13%[22] - The Company's net debt to Pro Forma Adjusted EBITDA ratio was 6.3 times, and the fixed charge coverage ratio was 2.8 times as of December 31, 2024[23] - The company has $213.0 million of undrawn commitments on its Revolving Credit Facility as of December 31, 2024[23] - Long-term debt increased to $518,993,000 from $495,370,000, representing a rise of about 4.0%[50] - Total stockholders' equity grew to $612,798,000, compared to $457,526,000, marking an increase of approximately 34.0%[50] Dividends - The Company declared a quarterly cash dividend of $0.38 per share for the first quarter of 2025, representing an annualized yield of approximately 7.5%[25] - The fourth quarter 2024 common stock cash dividend represented a payout ratio of 82.6% of the Company's Core FFO attributable to common stockholders[28] - The company declared dividends of $0.38 per common share for the three months ended December 31, 2024, consistent with the same period in 2023[52] Property and Leasing - The company signed 70 leases totaling over 452,000 square feet, with an average cash base rent increase of 23.0% to $23.36 per square foot[5] - The current signed-not-open leasing pipeline is valued at $5.2 million, representing 5.7% of annual cash base rent as of December 31, 2024[5] - The company’s portfolio consisted of 23 properties with a leased occupancy rate of 90.3% as of December 31, 2024[14] - For the year ended December 31, 2024, the Company signed 70 leases totaling 452,301 square feet, with a comparable average cash base rent increase of 23.0% from $18.99 to $23.36 per square foot[20] Assets and Growth - Total assets increased to $1,181,644,000 as of December 31, 2024, compared to $989,668,000 as of December 31, 2023, reflecting a growth of approximately 19.5%[50] - Real estate at cost rose to $984,202,000, up from $786,475,000, indicating a 25.1% increase year-over-year[50] Risks and Non-GAAP Measures - The company faces risks including changes in REIT qualifications, economic conditions, and tenant solvency, which could materially affect future results[38] - Funds From Operations (FFO) and other non-GAAP measures are utilized to assess operating performance, excluding real estate depreciation and extraordinary items[41] - Core Funds From Operations (Core FFO) and Adjusted Funds From Operations (AFFO) are adjusted to provide a clearer picture of operating performance without non-cash revenue distortions[44] - Same-Property Net Operating Income (Same-Property NOI) is used to compare the operating performance of properties owned for the full reporting periods, aiming to eliminate acquisition or disposition impacts[48] - The company emphasizes the importance of non-GAAP financial measures for investors to better assess operating performance compared to GAAP measures[41]

– Closed investments of $330.8 million at a weighted average initial cash yield 9.3% in 2024 –– Raised $165.2 million of net proceeds under common ATM program in 2024 –– Current signed-not-open pipeline of $5.2 million – WINTER PARK, Fla., Feb. 20, 2025 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced its operating results and earnings for the quarter and year ended December 31, 2024. “2024 was an outstanding year for the Company. We closed $331 million of inv ...

WINTER PARK, Fla., Feb. 10, 2025 (GLOBE NEWSWIRE) -- CTO Realty Growth (NYSE: CTO) (the “Company”) announced today that it will report its financial and operating results for the fourth quarter and full year 2024 after the market closes on Thursday, February 20, 2025. A conference call to discuss its financial and operating results is scheduled for Friday, February 21, 2025 at 9:00 AM ET. A live webcast of the call will be available on the Investor Relations page of the Company’s website at www.ctoreit.com ...

Investment Service Overview - iREIT+HOYA Capital is a premier income-focused investing service on Seeking Alpha, emphasizing income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1] - The service offers a Free Two-Week Trial and features exclusive income-focused portfolios with top investment ideas [1] Analyst Background and Focus - The analyst has over 14 years of investment experience and holds an MBA in Finance, focusing on defensive stocks with a medium- to long-term investment horizon [2] Analyst's Position and Disclosure - The analyst holds a beneficial long position in CTO Realty (NYSE: CTO) through stock ownership, options, or other derivatives [3] - The article reflects the analyst's personal opinions and is not compensated by any company mentioned, nor does the analyst have a business relationship with them [3] Article Purpose and Disclaimer - The article is for informational purposes only and does not constitute financial advice, encouraging readers to perform their own due diligence before making investment decisions [4] - Seeking Alpha's disclosure clarifies that past performance does not guarantee future results and that the platform is not a licensed securities dealer, broker, or investment adviser [5]

Disclosure and Disclaimer - The content provided does not constitute financial advice and is intended for discussion purposes only [2] - Seeking Alpha is not a licensed securities dealer, broker, or investment adviser, and its analysts may not be licensed or certified by any regulatory body [3] - The author has no stock, option, or derivative positions in the mentioned companies and no plans to initiate such positions within the next 72 hours [1]

Acquisition Details - CTO Realty Growth Inc acquired Granada Plaza for $16 8 million prior to closing costs and adjustments [1] - Granada Plaza is a 74 000 square foot shopping center anchored by a high performing Publix and located in Dunedin Florida [2] - The property is situated on seven acres and is 95% occupied [2] Strategic Impact - The acquisition adds another grocery anchored shopping center to CTO Realty Growth Inc's portfolio and expands its presence in Tampa [3] - Approximately 22% of the company's annual base rent is provided by grocery anchored shopping centers [3] - Florida accounts for approximately 20% of the company's annual base rent making it the second largest state [3] - Publix becomes the company's sixth largest tenant [3] Investment Overview - Year to date the company has completed $330 7 million of investments at a weighted average yield of 9 3% [3] - The investments consist of $226 7 million in retail properties and $104 0 million in structured investments [3] Company Background - CTO Realty Growth Inc owns and operates high quality open air shopping centers in the higher growth Southeast and Southwest markets of the United States [4] - The company also externally manages and owns a meaningful interest in Alpine Income Property Trust Inc (NYSE PINE) [4]