Core Insights - Albert Anthony is a Croatian-American business author and media contributor with a focus on financial markets, launching a book titled "Financial Markets: The Next Generation" in 2025 [1] - He has a non-traditional financial background, having worked as an analyst in the IT sector for Fortune 500 companies, which has informed his approach to equities research [1] - In 2021, he founded his own equities research firm, Albert Anthony & Company, which operates remotely [1] Company Background - Albert Anthony & Company is a sole proprietorship registered in Austin, Texas, and focuses on general market commentary and research based on publicly available data [1] - The firm does not provide personalized financial advisory services or manage client funds, emphasizing a data-driven and process-oriented approach [1] Professional Experience - Albert Anthony has participated in numerous business and innovation conferences in Croatia, contributing to his understanding of the fast-growing economy in southern Europe [1] - He has completed degrees and ongoing training from institutions such as Drew University and the Corporate Finance Institute [1] Media Presence - In addition to writing for platforms like Seeking Alpha and Investing.com, Albert Anthony is launching a YouTube show titled "Financial Markets with Albert Anthony" in 2025, where he will provide market commentary [1] - He has also been involved in European casting agencies, appearing in over five productions, which adds to his media presence [1]

Financial Data and Key Metrics Changes - The company reported core FFO of $14.7 million for the quarter, an increase of $4.3 million compared to $10.3 million in the same quarter of the previous year [15] - Core FFO per share remained consistent at $0.45 despite the increase in total core FFO, primarily due to a reduction in leverage [15] - The company ended the quarter with net debt to EBITDA of 6.9 times, an improvement from 7.5 times a year ago, but an increase from 6.3 times at the beginning of the year [14] Business Line Data and Key Metrics Changes - The company signed approximately 227,000 square feet of new leases, renewals, and extensions during the quarter, with an average cash base rent of $25.43 per square foot [4] - Year to date, the company completed 339,000 square feet of leasing, including 299,000 square feet of comparable leasing at a 27% cash rent spread [4] - The property portfolio was 93.9% leased and 90.2% occupied at the end of the quarter [6] Market Data and Key Metrics Changes - The company is experiencing strong leasing momentum in business-friendly MSAs within the Southeast and Southwest [4] - The signed not open pipeline stands at $4.6 million, representing 4.6% of in-place cash rents, which is expected to provide earnings tailwinds going into 2026 [6] Company Strategy and Development Direction - The company remains disciplined in underwriting property acquisitions and has a healthy pipeline of potential acquisitions [7] - The company is considering recycling some of its stabilized assets to fund future acquisitions [7] - The company is focused on capturing upside in its properties by addressing below-market rents and enhancing tenant quality [8][10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about ongoing lease negotiations and the potential for additional leases to be announced [5] - The company is not concerned about lease rollover risks, viewing them as opportunities due to low embedded lease rates [36] - Management reaffirmed full-year 2025 guidance for core FFO of $1.80 to $1.86 and AFFO of $1.93 to $1.98, indicating that earnings lift from the leasing pipeline will become more noticeable in the fourth quarter [16] Other Important Information - The company fully settled its 3.875% convertible notes, resulting in an extinguishment of debt charge of approximately $20.4 million [13] - The company ended the quarter with $606.8 million of debt, with only $74 million or 12% subject to floating interest rates [14] Q&A Session Summary Question: Can you provide more details on the Fidelity office property and the State of New Mexico lease? - Management explained that Fidelity is downsizing, and the State of New Mexico is moving in due to high demand for modern space, which is expected to monetize the asset effectively [18][19] Question: Will leverage increase if the shopping center acquisition goes through? - Management indicated that leverage may increase in the near term but plans to recycle some assets to mitigate this [20] Question: Are there any dispositions included in the guidance? - Management confirmed that there are no dispositions in the current guidance [21] Question: Are the Fidelity and State of New Mexico leases second or third quarter leases? - Management clarified that the State of New Mexico lease was signed in the second quarter, while the Fidelity downsizing is still being finalized [26][27] Question: What is the status of leasing activity in the third quarter? - Management stated that they are negotiating leases for the majority of remaining vacancies and expect significant activity in the next sixty days [29] Question: What are the risks associated with the 94% turnover expected next year? - Management expressed confidence in the embedded lease rates and did not foresee significant rollover risks [36] Question: Will there be a lease termination fee from Fidelity? - Management confirmed that Fidelity will make a payment for downsizing, which will be blended into their rent [48] Question: How will the rent change with the new tenants? - Management indicated that there will not be a roll down in rent, although there may be some downtime during the transition [49] Question: Will the term loan financing be related to the shopping center acquisition? - Management noted that the timing of the term loan may not align perfectly with the acquisition but does not foresee any concerns regarding financing [51]

Second Quarter 2025 Investor Presentation The Exchange at Gwinnett | Atlanta, GA Highlights Q2 2025 Highlights | $0.45 | Core FFO Per Share | | --- | --- | | $213 | Implied property value per square foot | | $19.35 | Cash ABR PSF | | ~190,000 | Square feet of comparable leasing activity | | 22% | Comparable leasing spread | | 83% | ABR from Georgia, Texas, Florida & North Carolina | | 93.9% | Leased Occupancy | | $4.6M | SNO Pipeline – 4.6% of in-place ABR | | 0.9% | Quarterly same-property NOI growth | | $ ...

Core Viewpoint - Bragar Eagel & Squire, P.C. is investigating potential claims against CTO Realty Growth, Inc. for possible violations of federal securities laws and unlawful business practices [1][2] Group 1: Investigation Details - The investigation is initiated on behalf of CTO stockholders following allegations of "manipulative" accounting practices related to Adjusted Funds From Operation [2] - The report by Wolfpack Research claims that management used a "sham loan" to hide issues with a major tenant and predicts potential future dilution due to financial reserves [2] Group 2: Stock Performance - Following the allegations, CTO's stock price decreased by $0.98, closing at $17.10 per share [2]

Financial Performance - CTO Realty reported quarterly funds from operations (FFO) of $0.47 per share, missing the Zacks Consensus Estimate of $0.49 per share, and compared to FFO of $0.48 per share a year ago, representing an FFO surprise of -4.08% [1] - The company posted revenues of $37.64 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 0.44%, and this compares to year-ago revenues of $28.84 million [2] Market Performance - CTO Realty shares have lost about 12% since the beginning of the year, while the S&P 500 has gained 8.6% [3] - The current consensus FFO estimate for the coming quarter is $0.49 on $37.93 million in revenues, and for the current fiscal year, it is $1.97 on $149.59 million in revenues [7] Industry Outlook - The Zacks Industry Rank for REIT and Equity Trust - Other is currently in the top 34% of over 250 Zacks industries, indicating that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]

[PART I—FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%E2%80%94FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited consolidated financial statements for the three and six months ended June 30, 2025, and 2024 [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) - Total assets increased to **$1.23 billion** as of June 30, 2025, from **$1.18 billion** at December 31, 2024, driven by growth in net real estate assets. Total liabilities also increased to **$659.2 million** from **$568.8 million**, primarily due to a rise in long-term debt[7](index=7&type=chunk) Consolidated Balance Sheet Summary (in thousands) | Account | June 30, 2025 (Unaudited) | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$1,233,226** | **$1,181,644** | | Real Estate—Net | $952,013 | $901,338 | | Cash and Cash Equivalents | $8,551 | $9,017 | | **Total Liabilities** | **$659,164** | **$568,846** | | Long-Term Debt—Net | $605,351 | $518,993 | | **Total Stockholders' Equity** | **$574,062** | **$612,798** | [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) - The company reported a net loss of **$23.4 million** for Q2 2025, a significant shift from a net income of **$1.2 million** in Q2 2024. This was primarily driven by a **$20.4 million** loss on the extinguishment of debt. Total revenues grew **30.5%** year-over-year to **$37.6 million**[8](index=8&type=chunk) Key Operating Results (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | Six Months 2025 | Six Months 2024 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenues** | **$37,638** | **$28,845** | **$73,449** | **$56,972** | | Income Properties Revenue | $33,375 | $25,878 | $65,047 | $50,501 | | Total Operating Income (Loss) | $(12,678) | $5,431 | $(4,805) | $19,954 | | Loss on Extinguishment of Debt | $(20,396) | $— | $(20,396) | $— | | **Net Income (Loss) Attributable to the Company** | **$(23,418)** | **$1,183** | **$(21,157)** | **$7,025** | | **Basic and Diluted EPS** | **$(0.77)** | **$(0.03)** | **$(0.78)** | **$0.17** | [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) - For the six months ended June 30, 2025, net cash from operating activities increased to **$32.2 million** from **$24.6 million** year-over-year. Net cash used in investing activities rose significantly to **$88.4 million**, primarily due to real estate acquisitions and fewer proceeds from dispositions. Net cash from financing activities was a source of **$57.7 million**, driven by proceeds from long-term debt[15](index=15&type=chunk) Cash Flow Summary - Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | **Net Cash Provided By Operating Activities** | **$32,237** | **$24,640** | | **Net Cash Used In Investing Activities** | **$(88,449)** | **$(40,745)** | | Acquisition of Real Estate | $(80,022) | $(72,659) | | Proceeds from Disposition of Property | $— | $19,527 | | **Net Cash Provided By Financing Activities** | **$57,693** | **$4,443** | | Proceeds from Long-Term Debt | $157,000 | $71,000 | | Payments on Long-Term Debt | $(56,272) | $(84,000) | | Dividends Paid - Common Stock | $(24,430) | $(17,309) | [Notes to Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) - The company operates as a self-managed equity REIT focused on high-quality retail and mixed-use properties, with segments including income properties, management services, commercial loans and investments, and real estate operations[20](index=20&type=chunk)[21](index=21&type=chunk)[28](index=28&type=chunk) - During the first six months of 2025, the company acquired Ashley Park in Georgia for **$80.0 million**, with no income properties disposed of during this period[60](index=60&type=chunk)[61](index=61&type=chunk) - The company settled its remaining **$51.0 million** of 3.875% Convertible Notes in April 2025 via cash and common stock, resulting in a **$20.4 million** loss on extinguishment of debt[150](index=150&type=chunk)[151](index=151&type=chunk)[152](index=152&type=chunk) - As of June 30, 2025, total face value long-term debt was **$606.8 million** with a weighted average interest rate of **4.44%**, including a **$224.0 million** credit facility balance[131](index=131&type=chunk) - The investment in Alpine Income Property Trust, Inc. (PINE) had a fair value of **$34.8 million** as of June 30, 2025, representing **15.4%** of PINE's equity, with a **$4.7 million** unrealized loss recognized in Q2 2025[24](index=24&type=chunk)[85](index=85&type=chunk)[219](index=219&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=67&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance for the three and six months ended June 30, 2025, highlighting revenue growth, net loss from debt extinguishment, liquidity, and non-GAAP measures [Results of Operations](index=71&type=section&id=Results%20of%20Operations) Revenue Variance - Q2 2025 vs Q2 2024 (in thousands) | Operating Segment | Q2 2025 | Q2 2024 | $ Variance | % Variance | | :--- | :--- | :--- | :--- | :--- | | Income Properties | $33,375 | $25,878 | $7,497 | 29.0% | | Management Services | $1,247 | $1,131 | $116 | 10.3% | | Commercial Loans and Investments | $3,016 | $1,441 | $1,575 | 109.3% | | Real Estate Operations | $— | $395 | $(395) | (100.0)% | | **Total Revenue** | **$37,638** | **$28,845** | **$8,793** | **30.5%** | - The **$24.6 million** decrease in net income for Q2 2025 compared to Q2 2024 is primarily due to the **$20.4 million** loss on extinguishment of debt related to the 2025 Notes settlement[222](index=222&type=chunk)[223](index=223&type=chunk) - General and Administrative expenses increased by **28.6%** in Q2 2025 year-over-year, attributed to a higher employee count and compensation increases[214](index=214&type=chunk)[215](index=215&type=chunk) [Liquidity and Capital Resources](index=81&type=section&id=Liquidity%20and%20Capital%20Resources) - The company believes it has sufficient liquidity for the next twelve months, citing cash on hand, operating cash flow, **$76.0 million** of undrawn credit facility capacity, and **$216.5 million** availability under its 2024 ATM Program[252](index=252&type=chunk) - As of June 30, 2025, the company has a remaining **$17.6 million** commitment for capital improvements and an unfunded construction loan commitment of **$29.6 million**[250](index=250&type=chunk)[251](index=251&type=chunk) - The 2025 investment guidance for income-producing properties and structured investments ranges from **$100.0 million** to **$200.0 million**, expected to be funded through cash, dispositions, and credit facilities[248](index=248&type=chunk) [Non-U.S. GAAP Financial Measures](index=86&type=section&id=Non-U.S.%20GAAP%20Financial%20Measures) Non-GAAP Performance Measures Per Diluted Share | Metric per Share | Q2 2025 | Q2 2024 | Six Months 2025 | Six Months 2024 | | :--- | :--- | :--- | :--- | :--- | | FFO Attributable to Common Stockholders | $(0.17) | $0.44 | $0.29 | $0.90 | | Core FFO Attributable to Common Stockholders | $0.45 | $0.45 | $0.90 | $0.93 | | AFFO Attributable to Common Stockholders | $0.47 | $0.48 | $0.96 | $1.00 | - Core FFO per diluted share was flat at **$0.45** for Q2 2025 compared to Q2 2024, while AFFO per diluted share slightly decreased to **$0.47** from **$0.48** over the same period[268](index=268&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=91&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate risk from variable-rate debt, with a hypothetical 100 basis point change impacting results by $0.7 million - The principal market risk is interest rate risk from variable-rate debt, which the company mitigates using interest rate swaps[272](index=272&type=chunk)[273](index=273&type=chunk) - As of June 30, 2025, **$74.0 million** of the company's debt was exposed to variable interest rates, with a **1% (100 basis point)** change impacting financial results by approximately **$0.7 million**[273](index=273&type=chunk) [Item 4. Controls and Procedures](index=91&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the reporting period[274](index=274&type=chunk) - No material changes in internal control over financial reporting occurred during Q2 2025[274](index=274&type=chunk) [PART II—OTHER INFORMATION](index=91&type=section&id=PART%20II%E2%80%94OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=91&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in legal proceedings not expected to materially affect its financial condition or results of operations - The company does not expect any ongoing legal proceedings to have a material impact on its financial condition or operations[275](index=275&type=chunk) [Item 1A. Risk Factors](index=91&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the company's risk factors were reported from those disclosed in its Annual Report on Form 10-K - No material changes to the risk factors previously disclosed in the Form 10-K were reported for the period ended June 30, 2025[277](index=277&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=93&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company issued 1,089,555 common shares in April 2025 to settle $35.2 million of 2025 Notes and repurchased 2,251 shares - On April 3, 2025, the company issued **1,089,555** shares of common stock to settle **$35.2 million** of its 2025 Notes in a private transaction[278](index=278&type=chunk) Issuer Purchases of Equity Securities (Q2 2025) | Period | Total Shares Purchased | Average Price Paid per Share | Remaining Authorization ($000's) | | :--- | :--- | :--- | :--- | | April 2025 | 2,251 | $16.34 | $4,300 | | May 2025 | — | — | — | | June 2025 | — | — | — | | **Total** | **2,251** | **$16.34** | **$4,300** | [Item 5. Other Information](index=93&type=section&id=Item%205.%20Other%20Information) This section notes recent tax law changes under the OBBBA, affecting REITs by increasing the TRS asset test and making the 20% REIT dividend deduction permanent - The OBBBA, signed into law on July 4, 2025, increased the REIT asset test limitation for TRS securities from **20%** to **25%** of total assets, effective after December 31, 2025[280](index=280&type=chunk) - The new tax law also made the **20%** deduction for qualified REIT dividends permanent for individuals, trusts, and estates[280](index=280&type=chunk) [Item 6. Exhibits](index=95&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate governance documents and SOX certifications - Lists all exhibits filed with the report, including corporate governance documents and required SOX certifications[282](index=282&type=chunk)

Exhibit 99.1 FOR IMMEDIATE RELEASE CTO Realty Growth Reports Second Quarter 2025 Operating Results – Signed 190,000 square feet of comparable leases at 22% growth in cash rent spread – – Reaf irmed 2025 Outlook – WINTER PARK, FL – July 29, 2025 – 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 June 30, 2025. Second Quarter 2025 H ...

Core Insights - CTO Realty Growth, Inc. reported strong leasing activity, signing 190,000 square feet of comparable leases with a cash rent spread growth of 22% [1][3] - The company reaffirmed its 2025 outlook, maintaining expectations for Core FFO and AFFO [1][26] Leasing Activity - The company signed 22 leases totaling 226,732 square feet in Q2 2025, with 14 comparable leases totaling 190,027 square feet at an average cash base rent of $25.54 per square foot, representing a 21.6% increase from the previous average of $21.01 [14][16] - The signed-not-open pipeline stands at $4.6 million, which is 4.6% of in-place cash annual base rent [3][5] Financial Results - For Q2 2025, the net loss attributable to the company was $(23,418) thousand, compared to a net income of $1,183 thousand in Q2 2024, reflecting a variance of (2079.5)% [4] - Core FFO attributable to common stockholders was $14,659 thousand, a 41.6% increase from $10,353 thousand in the same period last year [4] - AFFO attributable to common stockholders was $15,267 thousand, up 38.2% from $11,051 thousand year-over-year [4] Year-to-Date Financial Performance - For the six months ended June 30, 2025, the net loss attributable to the company was $(21,157) thousand, compared to a net income of $7,025 thousand in the same period of 2024, a variance of (401.2)% [8] - Core FFO for the first half of 2025 was $29,104 thousand, a 38.0% increase from $21,090 thousand in the prior year [8] - AFFO for the same period was $30,788 thousand, up 35.6% from $22,699 thousand [8] Portfolio Overview - As of June 30, 2025, the company's portfolio consisted of 24 properties with a total of 5,254 thousand square feet, achieving a leased occupancy rate of 93.9% [10] - The portfolio is primarily retail-focused, with 69.4% of cash base rent derived from retail properties [10] Capital Markets and Balance Sheet - The total long-term debt as of June 30, 2025, was $606.8 million, with a weighted average interest rate of 4.44% [18][24] - The company has $76.0 million of undrawn commitments on its revolving credit facility and $8.6 million in cash [21] Dividends - The company declared a cash dividend of $0.38 per share for common stock and $0.40 per share for preferred stock for Q2 2025, with a payout ratio of 84.4% of Core FFO per share [25]

NEW YORK, July 28, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of CTO Realty Growth, Inc.  (“CTO” or the “Company”) (NYSE: CTO). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980. The investigation concerns whether CTO and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.  [Click here for information about joining the class action] On June 25, 2025, W ...

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