MasaoTaira Summary Despite a quarter of subdued investment activity and a significant share price rally, we are still bullish on CTO Realty Growth (NYSE:CTO). In this report we cover CTO's Q2 earnings and provide an updated view on valuation for the common and preferred. Earnings Update There were no changes to the composition of the income producing portfolio, with no investments or dispositions during the quarter. Rents grew ~2% QoQ in the multitenant portfolio, and were unchanged in the single-tenant por ...

The top real estate stocks are defying market headwinds with remarkable resilience. Despite mortgage rates soaring to record highs over the past couple of decades, the U.S. real estate market continues to show extraordinary strength. Property prices remain on an upward trajectory, and the persistent growth is mainly fueled by a significant supply-demand imbalance. The market's resilience is underscored by superb demand and stringent lending standards, which lower the overall risk. That said, in this environ ...

buzbuzzer The Buy Thesis CTO Realty Growth (NYSE:CTO) is a mostly retail REIT with strong organic leasing prospects ahead. Despite its growth potential, it is deeply discounted, which allows investors to get in at an 11X AFFO multiple and 7.5% dividend yield. We shall begin with an explanation of why CTO trades at a low multiple and then follow with its forward fundamentals. Why CTO trades cheaply Retail real estate is having a renaissance as it moves from being a feared asset class to being respected as a ...

Panuwat Dangsungnoen The Company in Summary Source: CTO During the 2Q earnings call management described its use of their at-the-market issuance of both common and preferred equity in an effort to pay down their outstanding credit lines and effectively eliminate their exposure to floating rate debt. Their very manageable debt maturities calendar will accommodate their growth ambitions and make us comfortable with underwriting investment in there, A series preferred. CTO Source: Portfolio Income Solutions So ...

CTO Realty Growth, Inc. (NYSE:CTO) Q2 2024 Earnings Conference Call July 26, 2024 9:00 AM ET Company Participants John Albright - Chief Executive Officer and President Philip Mays - Senior Vice President, Chief Financial Officer and Treasurer Conference Call Participants R.J. Milligan - Raymond James Gopal Mehta - Alliance Global Partners Rob Stevenson - Janney Montgomery and Scott Matthew Erdner - Jones Trading John Massocca - B. Riley Securities Michael Gorman - BTIG Operator Good day, and thank you for s ...

| --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|----------------------------------------|-------|-------|------------------------------------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | _REALTY GROWTH Investor Presentation - | | | | | | | | July 2024 | | | | | | | | | | | The Collection at Forsyth \| Cumming, GA | $37M Small-cap shopping center REIT focused on open air centers in fast growing MSAs in the Southeast and Southwest Investment in Alpine Income Property Tru ...

CTO Realty (CTO) came out with quarterly funds from operations (FFO) of $0.48 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to FFO of $0.48 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of 11.63%. A quarter ago, it was expected that this real estate company would post FFO of $0.42 per share when it actually produced FFO of $0.52, delivering a surprise of 23.81%. Over the last four quarters, the c ...

WINTER PARK, Fla., July 25, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE:CTO) (the "Company" or "CTO") today announced its operating results and earnings for the quarter ended June 30, 2024. CEO Comments June 30, 2023 Variance to Comparable Period in the Prior Year Common Stockholders per Common Share - Diluted (2) (1) (2) Year-to-Date Financial Results Highlights | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------------------------------ ...

Investments During the three months ended June 30, 2024, the Company invested $1.5 million into 1.4 acres of land for future development within the West Broad Village property, which was previously acquired in October of 2022. During the six months ended June 30, 2024, the Company invested $72.5 million into two retail properties totaling 319,066 square feet and one vacant land parcel, and originated one $10.0 million first mortgage structured investment. These investments represent a weighted average going ...

| --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------|----------------------|------------------|----------------------|---------------------|----------------|-------------| | Description | Date of Investment | Maturity Date | Original Face Amount | Current Face Amount | Carrying Value | Coupon Rate | | Preferred Investment – Watters Creek – Allen, TX | April 2022 | April 2025 | $30,000 | $30,000 | $ 29,961 | 9.00% | | Mortgage Note – Founders Square ...