◾ Sold six properties during the quarter for total disposition volume of $64.2 million at a weighted average exit cap rate of 7.8%, generating total gains on sales of $3.1 million. ◾ Repurchased 62,015 shares of common stock at an average price of $15.72 per share. "Operational performance in the fourth quarter was strong, with comparable leasing rent growth of nearly 18% and same-store NOI growth of just under 5%. Even with some of the tenant challenges we experienced in the first half of the year, we cont ...

Drew Angerer/Getty Images News I've been buying CTO Realty Growth (NYSE:CTO) in response to common shares that are down by 12% over the last 1 year to trade at 8.8x its annualized adjusted FFO for its most recent quarter. CTO's third quarter AFFO was $0.48 per share, around $1.92 per share annualized. The internally managed REIT owns 23 mainly retail properties spread across 9 states and 4.1 million square feet of gross leasable space as of the end of its fiscal 2023 third quarter. The REIT also earns a ...

WINTER PARK, Fla., Jan. 04, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE:CTO) (the "Company" or "CTO") today announced its 2023 investment, disposition and leasing activities and provided a capital markets update. 2023 Investment Activity During the year ended December 31, 2023, the Company completed four retail property acquisitions and acquired one land parcel for total acquisition volume of $80.0 million, representing a weighted-average going-in cash cap rate of 7.5%.During the year ended Decem ...

John Albright – President and Chief Executive Officer R.J. Milligan – Raymond James Good morning, everyone. Thank you for joining us today for CTO Realty Growth's third quarter 2023 operating results conference call. With me today is our CEO and President, John Albright. John Albright Year-to-date, we've signed approximately 400,000 square feet of leases at an average rent of $24.57 per square foot. Comparable rent spreads for leases signed this year increased 4.6% with many of our larger properties experie ...

3 Absolute and Relative Valuation Upside CTO currently trades at a meaningful discount to net asset value (NAV) and a relative discount to its retail-focused peer group. Durable Portfolio with Meaningful Growth Opportunities Recently constructed retail and mixed-use portfolio with a combination of value-add lease up, redevelopment and stable, in-place cash flows in some of the strongest markets in the United States. 8 ▪ Track record of acquiring at meaningful discounts to replacement cost and below market l ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-11350 CTO REALTY GROWTH, INC. (Exact name of registrant as specified in its charter) Maryland 59-0483700 (State or other jurisdiction o ...

Balance Sheet ▪ Adequate liquidity for opportunistic growth ▪ No near-term debt maturities ▪ Q2 2023 quarter-end net debtto-pro forma EBITDA of 7.9x | --- | --- | --- | --- | |------------------------------------|-------|----------------|-----------------------------------| | Component of Long-Term Debt Type | | Principal | Interest Rate | | 2025 Convertible Senior Notes | Fixed | $51.0 million | 3.88% | | 2026 Term Loan 2 | Fixed | $65.0 million | SOFR + 10 bps + [1.25% - 2.20%] | | Mortgage Note | Fixed | ...

During the quarter, we did sell a Jollibee outparcel at our property just outside of Las Vegas in Henderson Nevada for $2.1 million at a very attractive cash cap rate of 4.8%, generating a healthy gain on sale of $800,000. On the leasing front, we signed 24 new leases renewals, options and extensions in the quarter, totaling 107,000 square feet at an average rent of $26.58 per square foot. As we shift focus to the back half of the year, we reaffirmed our 2023 core FFO and AFFO earnings guidance, while makin ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-11350 CTO REALTY GROWTH, INC. (Exact name of registrant as specified in its charter) Maryland 59-0483700 (State or other jurisdiction of (I. ...

Turning to our balance sheet. We ended the quarter with total cash and restricted cash of nearly $9 million and more than $165 million of undrawn commitments under our revolving credit facility. It's worth noting that only 7% of our total debt is floating and we recently entered into an interest rate swap to fix SOFR on $100 million of exposure under our revolving credit facility. And finally, as part of our earnings release yesterday, we reaffirmed our 2023 earnings guidance and made minor adjustments to o ...