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 Growth Q2 2026 Core FFO $0.53/share; raises investment guidance to $300-400M
Q2 2026 Core FFO $0.53/diluted share vs $0.45 in Q2 2025; AFFO $0.55/share.
CTO Realty stockholders elect all six director nominees, approve equity plan at 2026 annual meeting
John P. Albright, George R. Brokaw, Christopher J. Drew, Laura M. Franklin, R. Blakeslee Gable, and Christopher W. Haga elected directors.
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.
Underwriting agreement with Raymond James for 1,500,000 shares (plus 218,417 over-allotment exercised) of 6.375% Series A Cumulative Redeemable Preferred Stock at $20.00/share.
CTO Realty Growth increases authorized Series A Preferred shares by 3M to 5.98M
Filed Articles Supplementary to designate 3,000,000 additional shares of 6.375% Series A Cumulative Redeemable Preferred Stock with $25.00 liquidation preference.
CTO Realty Growth appoints Lisa Vorakoun as Interim CFO effective April 1
Lisa M. Vorakoun, age 40, appointed Interim CFO and Treasurer effective April 1, 2024.
CTO Realty Growth CFO Matthew Partridge resigns effective April 1, 2024
Matthew Partridge, SVP, CFO & Treasurer, resigned effective Apr 1, 2024 to pursue a non-REIT opportunity.
CTO Realty Growth Q4 same-store NOI +4.7%, FY AFFO $1.91; 2024 guidance $1.70-$1.78
FY2023 net income $0.03 diluted EPS (vs $(0.09) prior year); Q4 $0.25 diluted EPS.
CTO Q3 2023: Core FFO $0.47/sh, guidance raised, same-property NOI -4.5%
Net income $0.07 diluted EPS vs $0.19 YoY; Core FFO $0.47 (flat), AFFO $0.48.
CTO Q2 2023 Core FFO per share $0.43; invests $72.5M in acquisitions, same-property NOI down 2.5%
Reported Core FFO per diluted share of $0.43, down from $0.47 in Q2 2022; AFFO per share $0.48 vs $0.49.
CTO Realty stockholders elect all six directors and approve equity plan at 2023 annual meeting
Directors Albright, Brokaw, Drew, Franklin, Gable, Haga elected with >10.7M votes each; broker non-votes 4.57M.
CTO Realty Growth posts Q1 net loss $0.32/sh; Core FFO $0.39; dividend up 5.6%
Net loss per diluted share ($0.32); Core FFO $0.39, AFFO $0.43 for Q1 2023.
CTO Realty Growth reports FY2022 net loss per share ($0.09); Core FFO $1.74, AFFO $1.83
Net loss per diluted share ($0.09) for FY2022; Q4 net loss ($0.21) per share.
CTO Realty Growth amends bylaws to align proxy rules with SEC Rule 14a-19
Bylaws updated to require stockholder proxy solicitors to use non-white proxy cards; white card reserved for Board.
CTO Realty Growth files financial statements for $96M Forsyth property acquisition
Acquired The Collection at Forsyth, a mixed-use property in Atlanta, for $96.0 million on Dec 29, 2022.
Purchase price of $96.0 million; funded via equity offering, available cash, and credit facility draws.
Initial 3M shares plus full exercise of 450K-share over-allotment option; total 3.45M shares.
CTO Realty Growth enters agreement to acquire Atlanta mixed-use center for $96M
Purchase price of $96M for a mixed-use property in the Atlanta, GA metropolitan area.
CTO Realty Growth launches new $150M ATM equity program, ends prior one
New at-the-market offering allows sale of up to $150M in common stock gross proceeds.
CTO Realty Growth Q3 Core FFO $0.47/share (+38% YoY); acquires $174M properties, raises dividend 14%
Net income per diluted share $0.19; Core FFO per share $0.47 (up 38.2% YoY); AFFO per share $0.49 (up 36.1% YoY).
CTO Realty Growth completes $93.85M acquisition of West Broad Village in Richmond, VA
Acquired a grocery-anchored mixed-use asset in Richmond, VA for $93.85M.
CTO Realty Growth expands credit facility to $565M with $300M revolver and new $100M term loan
Total credit facility increased to $565M: $300M revolver (upsized from $210M), new $100M term loan, existing $165M term loans.
CTO Realty Growth agrees to buy $93.85M grocery-anchored mixed-use asset in Richmond, VA
Purchase price $93.85M for a class A, grocery-anchored mixed-use property in Richmond, VA metropolitan area.
Core FFO per diluted share $1.41, up 60.2% YoY; AFFO per share $1.48, up 38.3% YoY.
CTO Realty acquires Madison Yards retail center in Atlanta for $80.2M
Acquired Madison Yards retail center in Atlanta for $80.2M; funded with cash, 1031 exchange proceeds ($17.5M), and credit facility draw ($54.5M).
CTO Realty Growth boosts base salaries and grants restricted shares to three executives
Base salaries increased: Greathouse and Partridge to $400k (from $367.5k), Smith to $282,857 (from $259,875).
Stockholders elected John P. Albright, George R. Brokaw, Christopher J. Drew, Laura M. Franklin, R. Blakeslee Gable and Christopher W. Haga as directors until 2023.
CTO Realty Growth signs $80.2M deal to buy retail center in Atlanta metro area
Purchase price of $80.2M for a retail center in Fulton County, GA (Atlanta MSA), subject to closing prorations.
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.
On March 27, 2024, Lisa M. Vorakoun, age 40, was appointed Interim Chief Financial Officer and Treasurer of CTO Realty Growth, Inc. (the “Company”), effective April 1, 2024
On February 26, 2024, Matthew M. Partridge, Senior Vice President, Chief Financial Officer and Treasurer of CTO Realty Growth, Inc. (the “Company”), notified the Company that he will resign from his position effective April 1, 2024.
On March 21, 2022, Casey R. Wold notified the board of directors (the “Board”) of CTO Realty Growth, Inc., a Maryland corporation (the “Company”), that he will not stand for reelection to the Board at the Company’s 2022 annual meeting of stockholders (the “Annual Meeting”).
On January 18, 2022, the board of directors (the “Board”) of CTO Realty Growth, Inc., a Maryland corporation (the “Company”) increased the size of the Board from six directors to seven directors and appointed Christopher J. Drew to fill the vacancy resulting therefrom, effective as of January 18, 2022.
Max materiality 0.85 · Median 0.65 · Most common event earnings