CTO Realty Growth

CTO Realty Growth, Inc. operates as a real estate company. It owns and manages commercial real estate properties. The company was founded in 1910 and is headquartered in Daytona Beach, FL.

Earnings data Q1 2021

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CTO Realty Growth Achieves Record Growth in 2022, Eyes Strategic Acquisitions for Future Success

CTO Realty Growth's robust performance in 2022 sets a strong foundation for continued success in 2023. Despite challenges with certain tenants, the company remains focused on maximizing value and pursuing growth opportunities.

CTO Realty Growth excels in Q1 2023 with strategic growth initiatives

CTO Realty Growth's Q1 2023 earnings call highlighted strong performance, strategic investments, and a focus on shareholder value. The company's proactive approach to repositioning properties and utilizing tax-efficient strategies positions them well for future growth and capital optimization.

CTO Realty Growth reports active Q2 investments amidst financial challenges

CTO Realty Growth's Q2 showcased active investment and leasing strategies.
While facing challenges like expense increases and NOI decline, the company maintains a focus on optimizing its portfolio.
Opportunities lie in cost management, strategic investments, and revenue growth.
Overall, CTO Realty Growth aims to navigate short-term challenges for long-term value creation.

CTO Realty Growth excels in Q3, eyes growth amidst challenges

CTO Realty Growth's Q3 performance was marked by strong leasing activity, strategic dispositions, and increased guidance. While challenges persist in the uncertain market environment, the company remains focused on creating long-term value for shareholders and capitalizing on growth opportunities.

CTO Realty Growth excels in Q4 2023, poised for strategic growth

CTO Realty Growth delivered exceptional financial results in Q4 2023, exceeding expectations with significant core FFO and AFFO per share growth. The company's focus on retail properties, successful leasing activities, and strategic investments highlight a robust performance trajectory. While challenges in balancing investment needs and shareholder expectations exist, CTO Realty Growth's opportunities for growth and value creation remain promising.

CTO Realty Growth excels in Q1 2024, eyes growth opportunities

CTO Realty Growth demonstrated robust leasing activity, improved occupancy rates, and strong financial performance in Q1 2024.
The company's proactive leasing strategies and financial maneuvers have enhanced its position in the market.
While facing challenges in debt management and portfolio optimization, CTO Realty Growth is poised to capitalize on growth opportunities.
Investors should take note of the company's positive performance and strategic moves to navigate market challenges and drive future growth.

CTO Realty Growth excels in Q2, eyes expansion amid challenges

CTO Realty Growth's Q2 performance reflects operational excellence, growth potential, and strategic focus on enhancing shareholder value.
While facing challenges from market dynamics, the company's strengths in occupancy rates, asset monetization, and financial guidance position it well for the future.
By capitalizing on opportunities in leasing, investments, and financial management, CTO Realty Growth can navigate challenges and drive sustainable growth.

CTO Realty Growth excels in Q3, eyes growth through acquisitions

CTO Realty Growth delivered a solid quarter with notable achievements across all business segments, showcasing growth in core FFO and leasing activity.
The company's strategic investments, improved leverage, and raised guidance reflect a positive outlook for future performance and expansion.
While challenges exist in a dynamic market environment, CTO Realty Growth's strong performance and focus on high-quality assets position them well for continued success.

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CTO Realty Growth, Inc. operates as a real estate company. It owns and manages commercial real estate properties. The company was founded in 1910 and is headquartered in Winter Park, FL.

DAYTONA BEACH, Fla., March  03, 2020  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company” or “CTO”) today announced the closing of the sale of  approximately 12 acres, which consisted of a land sale and conveyance of certain interests (the “Equinox Land Sale”), for $4.5 million, or approximately $375,000 per acre, to Equinox Development (“Equinox”). Equinox a Maitland, Florida based real estate developer has operations and developments in Florida, North Carolina, South Carolina and Tennessee. The Equinox Land Sale was completed by the venture that was formed in October 2019 when the Company sold the controlling interest in the entity that held the remaining land portfolio (the “Land JV”). The proceeds from the Equinox Land Sale will be distributed in accordance with the distribution priority of the Land JV. In conjunction with the Equinox Land Sale, the Company provided Equinox an approximately $3.4 million one-year first mortgage loan.

Consolidated Tomoka Announces Sale of 12 Acres for $4.5 Million by Land JV

DAYTONA BEACH, Fla., Feb.  21, 2020  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) today announced the purchase of Perimeter Place (“Perimeter”), an approximately 269,000 square foot retail center situated on over 24 acres of land in Atlanta, Georgia, for $75.4 million, representing a going-in cap rate within the range of the Company’s previously provided guidance. The weighted average lease term for the leases of all 42 tenants at Perimeter is approximately 3.6 years. Perimeter is in the Central Perimeter submarket which has approximately 29 million square feet of office space and employment levels of more than 132,000 people. Perimeter is 80% leased and anchored by SuperTarget (not a part of the Company’s acquisition), Ross Dress for Less and Michaels along with a variety of restaurants such as Fleming’s Prime Steakhouse & Wine Bar, Chipotle, Panera, Outback Steakhouse and Carrabba’s. The three-mile population is approximately 110,000 with an average household income of over $92,000. Perimeter is located approximately 1-mile from the 1.5 million square foot Perimeter Mall owned by Brookfield Properties and approximately 1.5 miles from the new State Farm campus that is projected to employ approximately 8,000 people by the end of 2020. Perimeter will be managed by CBRE and leased by JLL on behalf of the Company.

Consolidated Tomoka Announces Acquisition of Perimeter Place, a 269,000 Square Foot Retail Center, in Atlanta, Georgia for $75.4 Million

Consolidated-Tomoka Land Co. (CTO) CEO John Albright on Q4 2019 Results - Earnings Call Transcript

Consolidated-Tomoka (CTO) delivered earnings and revenue surprises of 6.88% and 4.39%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?

Consolidated-Tomoka (CTO) Q4 Earnings and Revenues Beat Estimates

DAYTONA BEACH, Fla., Feb.  12, 2020  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) today announced its operating results and earnings for the quarter and year ended December 31, 2019.

Consolidated-Tomoka Land Co. Reports Earnings of $23.03 Per Share for 2019 and $20.05 Per Share for the Fourth Quarter of 2019, Book Value Increases to $59.83 Per Share

DAYTONA BEACH, Fla., Feb.  05, 2020  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) announced today that it has closed privately negotiated exchange agreements with certain holders of its outstanding 4.50% Convertible Senior Notes due 2020 (the “2020 Notes”) pursuant to which the Company will issue $57.4 million principal amount of 3.875% Convertible Senior Notes due 2025 (the “New Notes”) in exchange for $57.4 million principal amount of the 2020 Notes (collectively the “Private Exchanges”).  In addition, the Company closed a privately negotiated purchase agreement with an investor and issued approximately $17.6 million principal amount of the New Notes (the “Private Placement,” and together with the Private Exchanges, the “Transactions”).  The Company used approximately $5.9 million of the proceeds from the Private Placement to repurchase approximately $5.9 million of the 2020 Notes. As a result of the Transactions there is a total of $75 million of outstanding New Notes.

Consolidated Tomoka Announces Closing of Transactions Exchanging $57.4 Million of Existing Convertible Senior Notes Due 2020 and Concurrent $17.6 Million Private Placement of Convertible Senior Notes Due 2025

DAYTONA BEACH, Fla., Jan.  29, 2020  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) announced today that it has entered into privately negotiated exchange agreements with certain holders of its outstanding 4.50% Convertible Senior Notes due 2020 (the “2020 Notes”) pursuant to which the Company will issue $55.2 million principal amount of 3.875% Convertible Senior Notes due 2025 (the “New Notes”) in exchange for $55.2 million principal amount of the 2020 Notes (collectively the “Private Exchanges”). Following the closing of the Private Exchanges, $19.8 million in aggregate principal amount of the 2020 Notes will remain outstanding with terms unchanged from the original issuance. In addition, the Company has entered into a privately negotiated purchase agreement with an investor to issue approximately $15.8 million principal amount of the New Notes (the “Private Placement,” and together with the Private Exchanges, the “Transactions”). The Transactions are expected to close on or about February 3, 2020, subject to customary closing conditions.

Consolidated Tomoka Announces Privately Negotiated Exchanges of Existing Convertible Senior Notes Due 2020 and Concurrent Private Placement of Convertible Senior Notes Due 2025

Consolidated-Tomoka (CTO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Consolidated-Tomoka (CTO) Earnings Expected to Grow: What to Know Ahead of Q4 Release

DAYTONA BEACH, Fla., Jan.  24, 2020  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) today announced the purchase of Crossroads Towne Center (“Crossroads”), an approximately 254,000 square foot retail center in Chandler, Arizona, for $61.8 million, representing a going-in cap rate of approximately 7.85%. Crossroads, located in the Phoenix MSA, is approximately 11 miles from Tempe and is 99% occupied. Crossroads is anchored by Home Depot and Wal-Mart, two properties that were not part of the Company’s acquisition, as well as a 12-screen Harkins Theatre and Bob’s Discount Furniture. Also included are multiple outparcels leased to tenants including, but not limited to, Chick-fil-A, JPMorgan Chase and Olive Garden. Additionally, Crossroads is located directly across the SanTan Freeway from Rivulon, the 250-acre mixed use development anchored by Deloitte. The weighted average lease term for the leases of all 32 tenants at Crossroads is approximately 5 years. Crossroads will be managed by Vestar and leased by JLL on behalf of the Company.

Consolidated Tomoka Announces Acquisition of Crossroads Towne Center, a 254,000 Square Foot Retail Center, in Chandler, Arizona for $61.8 Million

DAYTONA BEACH, Fla., Dec.  17, 2019  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company” or “CTO”) today announced the closing of the sale of  approximately 23 acres (the “Emerson Land Sale”), for $4.0 million, or approximately $176,000 per acre, to an affiliate of Emerson International, Inc. (“Emerson”), an international real estate developer with operations and developments in the U.S. The Emerson Land Sale was completed by the venture that was formed in October 2019 when the Company sold the controlling interest in the entity that held the remaining land portfolio (the “Land JV”). Pursuant to the Land JV structure, the proceeds from the Emerson Land Sale will be distributed in accordance with the distribution priority in the applicable operating agreement of the Land JV. CTO has a retained interest in the Land JV.

Consolidated Tomoka Announces Sale of 23 Acres For $4.0 Million By Land JV

DAYTONA BEACH, Fla., Dec.  16, 2019  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company” or “CTO”) today announced the closing of the sale of approximately 38 acres (the “Land Sale”), for approximately $6.4 million, or approximately $167,000 per acre, to a regional developer of primarily multi-family residential projects. The Land Sale was completed by the venture that was formed in October 2019 when the Company sold the controlling interest in the entity that held the remaining land portfolio (the “Land JV”). Pursuant to the Land JV structure, the proceeds from the Land Sale will be distributed in accordance with the distribution priority in the applicable operating agreement of the Land JV. CTO has a retained interest in the Land JV.

Consolidated Tomoka Announces Sale of 31 Acres for Approximately $6.4 Million by Land JV

DAYTONA BEACH, Fla., Dec.  09, 2019  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) today announced the purchase of The Strand, an approximately 212,000 square foot shopping center in Jacksonville, Florida (the “Strand”), for $62.7 million.  The Strand is 95% occupied and has four anchor tenants: Hobby Lobby, Best Buy, 2nd & Charles and the PGA Superstore. The weighted average lease term for the leases of all 20 tenants at the Strand is approximately 9.5 years.  The Strand is adjacent to the 1.4 million square foot St. Johns Town Center, the upscale super-regional open-air mall co-owned and managed by the Simon Property Group that is home to over 150 tenants including Tiffany’s, Louis Vuitton, Tesla, Apple and Nordstrom.  The Company previously purchased five ground leases that are outparcels of the Strand, which were purchased as part of the acquisition of a portfolio of eight ground leases located in that commercial retail corridor.  The Strand will be leased and managed by Colliers International Northeast Florida, Inc. on behalf of the Company.

Consolidated Tomoka Announces Acquisition of The Strand, A 212,000 Square Foot Shopping Center, in Jacksonville, Florida for $62.7 Million

DAYTONA BEACH, Fla., Dec.  09, 2019  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) today announced that it has completed the $10 million share repurchase program announced in November 2019 (the “Completed Repurchase Program”), as a result of repurchasing approximately $10 million of its common stock in the last 30 days. In total, under the Completed Repurchase Program, the Company repurchased 158,625 shares at an average price of $63.04 per share. As a result of the Completed Repurchase Program, the Company’s shares outstanding currently totals 4,770,454. Since the beginning of 2019 the Company has deployed approximately $41.1 million to repurchase 691,102 shares or approximately 13% of the Company’s shares outstanding as of year end 2018, representing an average price of approximately $59.46 per share.

Consolidated Tomoka Announces Completion of Recently Announced $10 Million Share Buyback Program

DAYTONA BEACH, Fla., Dec.  04, 2019  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company” or “CTO”) today announced the closing of the sale of approximately 31 acres (the “Unicorp Sale”), for approximately $4.6 million, or approximately $148,000 per acre, to Unicorp National Development, Inc. of Orlando Florida (“Unicorp”). The Unicorp Sale was completed by the venture that acquired the remaining land portfolio from CTO in October of 2019 (the “Land JV”). Pursuant to the Land JV structure, the proceeds from the Unicorp Sale will go to pay the amount of preferred return accrued to CTO’s partner in the Land JV, with the remaining proceeds distributed in accordance with the distribution priority in the applicable operating agreement of the Land JV. CTO has a retained interest in the Land JV.

Consolidated Tomoka Announces Sale of 31 Acres for $4.6 Million by Land JV

DAYTONA BEACH, Fla., Nov.  27, 2019  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) today announced that it had invested approximately $38.8 million in Alpine Income Propety Trust, Inc., and its affiliates (collectively “PINE”),  resulting in the beneficial ownership of approximately 22.3% of PINE, through its investment in PINE’s IPO and the sale and contribution of a portfolio of 20 single-tenant net lease income properties. The sales transaction, for 15 of the 20 properties, resulted in the Company receiving approximately $125.9 million which the Company intends to redeploy in income property investments through the 1031 like-kind exchange structure.

Consolidated Tomoka Announces Closing of Sale of 20 Income Properties to Alpine Income Property Trust, Inc and Other Related Transactions

DAYTONA BEACH, Fla., Nov.  05, 2019  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) today announced that its Board of Directors (the “Board”) approved an additional $10 million share buyback program (the “Additional Buyback Program”).

Consolidated Tomoka Announces Additional $10 Million Share Buyback Program

DAYTONA BEACH, Fla., Oct.  29, 2019  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) today announced the purchase of an approximately 70,900 square foot income property on 5.29 acres in North Richland Hills, Texas (the “Property”), under a long-term lease to Burlington Stores, Inc., for approximately $11.9 million. The Property is situated within a major retail corridor along Loop 820 near the Northeast Mall, with a three-mile population of approximately 120,000 and approximately 9.3 years remaining on the current lease. The initial investment cap rate was above the mid-point of the range in the Company’s 2019 guidance. This acquisition was purchased using 1031 like-kind exchange proceeds from the Company’s August 2019 sale of a ground lease with Wawa in Winter Park, Florida and a portion of the recently-announced transaction with Magnetar Capital.

Consolidated Tomoka Announces Acquisition of Single-Tenant Property Leased to Burlington in North Richland Hills, Texas for $11.9 Million

DAYTONA BEACH, Fla., Oct.  23, 2019  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company” or “CTO”) today announced the creation and planned initial public offering of Alpine Income Property Trust, Inc. (“Alpine” or “PINE”), and CTO’s intention to sell or contribute to Alpine a portfolio of 20 of CTO’s single-tenant net lease income properties (the “IPO Portfolio”).  CTO also announced that its investment strategy will focus on higher return real estate assets, and that the Company will rebrand itself as CTO Realty Growth, Inc.

Consolidated-Tomoka Announces Formation and Planned IPO of New Single-Tenant Net Lease REIT  and Investment Strategy Focused on Higher Return Assets

DAYTONA BEACH, Fla., Oct.  18, 2019  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) today announced the closing of the sale of its golf operations, consisting of the LPGA International Golf Club, (the “Golf Club”), for total proceeds to the Company of approximately $3.45 million (the “Golf Transaction”). The Company provided the buyer, an affiliate of Fore Golf Services, Inc. (“Fore Golf”), financing in the form of a first mortgage loan (the “Fore Golf Loan”). In addition, the Company paid off its remaining liability to the City of Daytona Beach (the “City”) totaling approximately $540,000, which related to the per round surcharge the Company agreed to pay the City in connection with the Company’s prior buy-out of the land lease with the City. As part of the Golf Transaction, Fore Golf agreed to pay the Company approximately $560,000 in the future based on a per round surcharge of $1.50 per round for each round played at the Golf Club. The Fore Golf Loan has a term of one year.

Consolidated-Tomoka Announces the Sale of its Golf Operations for $3.45 Million

Consolidated-Tomoka Land's (CTO) CEO John Albright on Q3 2019 Results - Earnings Call Transcript

Consolidated-Tomoka (CTO) delivered earnings and revenue surprises of -88.82% and -71.22%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?

Consolidated-Tomoka (CTO) Q3 Earnings and Revenues Lag Estimates

DAYTONA BEACH, Fla., Oct.  16, 2019  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) today announced its operating results and earnings for the quarter and nine months ended September 30, 2019.

Consolidated-Tomoka Land Co. Reports Earnings of $0.31 Per Share for the Third Quarter of 2019

DAYTONA BEACH, Fla., Oct.  16, 2019  (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) today announced the closing of the sale of a controlling interest in a wholly-owned entity that holds the Company’s remaining land portfolio of approximately 5,300 acres (the “Land Venture”), including the land parcels the Company currently has under contract, to certain funds managed by Magnetar Capital (“Magnetar”) for total proceeds to the Company of approximately $97.0 million (the “Land Transaction”). The Company may, in the future, receive additional proceeds from the Land Venture in the form of distributions under certain circumstances, based upon the timing and amount realized when the land is ultimately sold by the Land Venture. There can be no assurance as to the likelihood of receiving such distributions, or the amount or timing thereof.

Consolidated-Tomoka Announces the Sale of  a Controlling Interest in the Company’s Remaining Land Portfolio

Consolidated-Tomoka (CTO) Earnings Expected to Grow: Should You Buy?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

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