earnings
confidence high
sentiment neutral
materiality 0.75
CTO Realty posts Q4 net loss $(0.56)/share; Core FFO $1.88 for FY2024; guides FY2025 Core FFO $1.80-$1.86
CTO Realty Growth, Inc.
2024-FY EPS reported
-$0.35
revenue$124,519,000
- Q4 net loss $(0.56)/diluted share; full year net loss $(0.35)/share; Core FFO $0.46 (Q4) and $1.88 (FY).
- Invested $330.8M at 9.3% yield in 2024; raised $165.2M net via ATM; same-property NOI up 4.0% YoY.
- Signed 70 leases (452k sq ft) at 23% cash spread; signed-not-open pipeline $5.2M (5.7% of in-place rent).
- FY2025 guidance: Core FFO $1.80-$1.86, AFFO $1.93-$1.98; investments $100M-$200M at 8.0%-8.5% yield.
- Net debt to pro forma adj. EBITDA improved to 6.3x; dividend unchanged at $0.38/quarter common.