Philip R. Mays
On May 29, 2024, Philip R. Mays, age 56, was appointed Senior Vice President, Chief Financial Officer and Treasurer of CTO Realty Growth, Inc. (the “Company”), effective as of June 17, 2024.
Highest-materiality recent filing
CTO Realty adds Cantor Fitzgerald and Huntington as ATM sales agents for preferred and common stock
Added Cantor Fitzgerald and Huntington as sales agents for existing At-the-Market offering programs.
CTO Realty Growth Q1 Core FFO $0.52; raises 2026 FFO guidance to $2.06-$2.11
Q1 Core FFO $0.52 per diluted share, AFFO $0.56, net income $0.13 per share.
CTO Realty Growth reports Q4 Core FFO $0.49, AFFO $0.51; 2026 guidance: Core FFO $1.98-$2.03
FY2025 net income $0.08 per diluted share, compared to loss of $0.35 in FY2024.
CTO Manager waives 50% of base fee on PINE preferred equity proceeds (1.50%→0.75%)
PINE plans $ offering of 8.00% Series A Cumulative Redeemable Preferred Stock priced Nov 5, 2025.
CTO Realty Growth Q3 Core FFO $0.48, raises FY 2025 outlook
Net income attributable to common stock of $1.0M ($0.03 diluted EPS); Core FFO $15.6M ($0.48), down 4% YoY per share.
CTO Realty Growth closes $150M term loan financing, extends debt maturities
New $125M term loan due Sept 2030 and $25M upsizing of existing $100M 2029 facility.
CTO Realty Growth announces new $10M share repurchase program, prior $5M program completed
Prior $5M program fully utilized; ~$4.3M in common stock repurchased over past 60 days.
CTO Realty Growth Q2 net loss $0.77/sh; Core FFO flat at $0.45; signs 190K SF at 22% spread
Net loss attributable to common stockholders of $(0.77) per diluted share vs. $(0.03) in Q2 2024.
CTO Realty Growth stockholders reelect all directors, ratify auditor, approve say-on-pay
Director John P. Albright received 18,702,969 for, 576,843 against, 50,571 abstain.
CTO Realty Growth Q1 net income $0.01/share; acquires $79.8M Ashley Park
Net income attributable to common stockholders $0.01 per diluted share, down from $0.20 YoY; Core FFO $0.46, AFFO $0.49 per share.
CTO Realty Growth exchanges $35.2M of 3.875% convertible notes for stock and cash
Exchanged $35.2M principal for 1,089,555 shares of common stock and $29.0M cash (incl. $0.6M accrued interest).
Q4 net loss $(0.56)/diluted share; full year net loss $(0.35)/share; Core FFO $0.46 (Q4) and $1.88 (FY).
CTO Realty Growth establishes new $250M common and $25M preferred ATM programs
Common ATM program allows sales of up to $250M in common stock through 13 sales agents including Janney and BMO.
CTO Realty Q3 EPS $0.17; Core FFO $0.50, guidance raised
Net income $0.17/diluted share; Core FFO $0.50 (+6.4% YoY); AFFO $0.51 (+6.3% YoY).
CTO Realty closes $100M unsecured term loan; YTD investments hit $273.8M at 9.1% yield
Entered $100M five-year unsecured term loan at SOFR+spread; initial effective fixed rate 4.7% after swapping existing hedges.
CTO Realty Growth launches $24.5M ATM program for 6.375% Series A Preferred Stock
Up to $24.5M aggregate gross sales price of 6.375% Series A Cumulative Redeemable Preferred Stock ($25/sh liquidation preference).
Acquired Carolina Pavilion (Charlotte), Millenia Crossing (Orlando), and Lake Brandon Village (Tampa) for $137.5M total.
CTO Realty signs $137.5M PSA to buy 3-property portfolio (NC, FL)
Purchase and Sale Agreement for three properties in Charlotte, Orlando, and Tampa; total price $137.5M subject to prorations.
CTO Realty Growth Q2 2024 Core FFO $0.45, raises full-year guidance
Net loss per share $(0.03) in Q2 2024 vs income $0.03 in Q2 2023; Core FFO $0.45, up 4.7% YoY.
CTO Realty extends management agreement with Alpine Income Trust to Jan 2025
Amendment extends initial term of Management Agreement from Nov 26, 2024 to Jan 31, 2025.
CTO Realty Growth annual meeting elects all six director nominees; auditor ratified.
Elected: Albright, Brokaw, Drew, Franklin, Gable, Haga to board until 2025 annual meeting.
CTO Realty appoints Philip Mays as CFO effective June 17; base salary $375k
Philip R. Mays appointed SVP, CFO and Treasurer of CTO Realty Growth (CTO) effective June 17, 2024.
CTO Realty Growth Q1 net income $0.20/sh vs loss; Core FFO $0.48, AFFO $0.52, raises guidance
Net income per diluted share $0.20 (vs $(0.32) loss in Q1 2023); Core FFO $0.48, AFFO $0.52.
On May 29, 2024, Philip R. Mays, age 56, was appointed Senior Vice President, Chief Financial Officer and Treasurer of CTO Realty Growth, Inc. (the “Company”), effective as of June 17, 2024.
Max materiality 0.80 · Median 0.65 · Most common event earnings