earnings
confidence high
sentiment positive
materiality 0.85
CTO Realty Growth Q2 Core FFO $1.41 (+60% YoY); raises 2022 guidance; acquires Madison Yards for $80M
CTO Realty Growth, Inc.
2022-Q2 EPS reported
-$0.16
revenue$36,673,000
- Core FFO per diluted share $1.41, up 60.2% YoY; AFFO per share $1.48, up 38.3% YoY.
- Same-Property NOI increased 23.8% in Q2; YTD same-property NOI up 20.3%.
- Completed $80.2M acquisition of Madison Yards (Atlanta) on July 8; cap rate below prior guidance.
- Raised full-year 2022 Core FFO guidance to $1.58-$1.64 and AFFO to $1.70-$1.76 per share.
- Paid Q2 common dividend of $1.12 per share (pre-split), up 12% YoY; annualized yield 6.9%.