earnings
confidence high
sentiment positive
materiality 0.75
CTO Realty Q3 EPS $0.17; Core FFO $0.50, guidance raised
CTO Realty Growth, Inc.
2024-Q3 EPS reported
$0.35
revenue$88,777,000
- Net income $0.17/diluted share; Core FFO $0.50 (+6.4% YoY); AFFO $0.51 (+6.3% YoY).
- Raised $125.7M net proceeds from ATM; closed $100M 5-year unsecured term loan at 4.7%.
- Investments $191.3M at 9.5% yield, including $137.5M portfolio acquisition (3 centers in Charlotte, Orlando, Tampa).
- Same-property NOI +6.3% to $16.8M; leased occupancy 95.8% vs 94.6% in Q2.
- FY2024 Core FFO guidance raised to $1.83-$1.87 (prev $1.81-$1.86); AFFO to $1.96-$2.00.