Associated tags: REIT, PINE, PARK, NYSE, Sale
Locations: DAYTONA BEACH, FL, US, PARK, BAIRD, BEAVER CREEK, TEXAS, VA, GEORGIA, NC, NEW MEXICO, ORLANDO, FLORIDA, MARSHALLS, PETCO, BURLINGTON, SANFORD
WINTER PARK, Fla., May 02, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced its operating results and earnings for the quarter ended March 31, 2024.
Key Points:
- WINTER PARK, Fla., May 02, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced its operating results and earnings for the quarter ended March 31, 2024.
- Reported Net Income per diluted share attributable to common stockholders of $0.20 for the quarter ended March 31, 2024.
- Reported Core FFO per diluted share attributable to common stockholders of $0.48 for the quarter ended March 31, 2024.
- Reported AFFO per diluted share attributable to common stockholders of $0.52 for the quarter ended March 31, 2024.
WINTER PARK, Fla., April 04, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (“CTO” or the “Company”) today announced the pricing of a public offering of 1,500,000 additional shares of the Company’s 6.375% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”), liquidation preference $25.00 per share, at a public offering price of $20.00 per share. CTO will receive gross proceeds of $30,000,000 from the sale of the Series A Preferred Stock before deducting the underwriting discount and other estimated offering expenses. The Company also granted the underwriters a 30-day option to purchase up to an additional 225,000 shares of the Series A Preferred Stock to cover over-allotments, if any. The additional shares of Series A Preferred Stock constitute an additional issuance of shares of Series A Preferred Stock, with 2,978,808 shares of Series A Preferred Stock currently issued and outstanding (the “Outstanding Series A Preferred Stock”) (which reflects the previous repurchase by the Company of 21,192 shares of Series A Preferred Stock). The Series A Preferred Stock will be treated as a single series with and have the same terms as the Outstanding Series A Preferred Stock. The Outstanding Series A Preferred Stock is, and the Series A Preferred Stock sold in the offering will be, listed on the New York Stock Exchange under the ticker symbol “CTO PrA.” The offering is expected to close on April 11, 2024, subject to customary closing conditions.
Key Points:
- WINTER PARK, Fla., April 04, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (“CTO” or the “Company”) today announced the pricing of a public offering of 1,500,000 additional shares of the Company’s 6.375% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”), liquidation preference $25.00 per share, at a public offering price of $20.00 per share.
- CTO will receive gross proceeds of $30,000,000 from the sale of the Series A Preferred Stock before deducting the underwriting discount and other estimated offering expenses.
- The additional shares of Series A Preferred Stock constitute an additional issuance of shares of Series A Preferred Stock, with 2,978,808 shares of Series A Preferred Stock currently issued and outstanding (the “Outstanding Series A Preferred Stock”) (which reflects the previous repurchase by the Company of 21,192 shares of Series A Preferred Stock).
- The Series A Preferred Stock will be treated as a single series with and have the same terms as the Outstanding Series A Preferred Stock.
WINTER PARK, Fla., April 03, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (“CTO” or the “Company”) today announced the commencement of a public offering of additional shares of the Company’s 6.375% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”) with a $25.00 per share liquidation preference.
Key Points:
- WINTER PARK, Fla., April 03, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (“CTO” or the “Company”) today announced the commencement of a public offering of additional shares of the Company’s 6.375% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”) with a $25.00 per share liquidation preference.
- The additional shares of Series A Preferred Stock constitute an additional issuance of shares of Series A Preferred Stock, with 2,978,808 shares of Series A Preferred Stock currently issued and outstanding (the “Outstanding Series A Preferred Stock”) (which reflects the previous repurchase by the Company of 21,192 shares of Series A Preferred Stock).
- The Series A Preferred Stock will be treated as a single series with and have the same terms as the Outstanding Series A Preferred Stock.
- The Outstanding Series A Preferred Stock is, and the Series A Preferred Stock sold in the offering will be, listed on the New York Stock Exchange under the ticker symbol “CTO PrA.”
Raymond James & Associates, Inc. is acting as book-running manager for the offering.
Retrieved on:
Wednesday, March 27, 2024
WINTER PARK, Fla., March 27, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth (NYSE: CTO) (the “Company”) announced today that it will report its financial and operating results for the first quarter of 2024 after the market closes on Thursday, May 2, 2024.
Key Points:
- WINTER PARK, Fla., March 27, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth (NYSE: CTO) (the “Company”) announced today that it will report its financial and operating results for the first quarter of 2024 after the market closes on Thursday, May 2, 2024.
- A conference call to discuss its financial and operating results is scheduled for Friday, May 3, 2024 at 9:00 AM ET.
- A live webcast of the call will be available on the Investor Relations page of the Company’s website at www.ctoreit.com or at the link provided in the event details below.
- To access the call by phone, please go to the registration link provided in the event details below and you will be provided with dial-in details.
WINTER PARK, Fla., March 21, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced the acquisition of Marketplace at Seminole Towne Center, a 318,000 square foot multi-tenant retail power center in the Sanford submarket of Orlando, Florida (the “Property”) for a purchase price of $68.7 million.
Key Points:
- WINTER PARK, Fla., March 21, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced the acquisition of Marketplace at Seminole Towne Center, a 318,000 square foot multi-tenant retail power center in the Sanford submarket of Orlando, Florida (the “Property”) for a purchase price of $68.7 million.
- The purchase price represents a going-in cap rate within the range of the Company’s current guidance for initial cash yields.
- Seminole Towne Center is situated on 41 acres along I-4 and SR 417, just over 20 miles north of downtown Olando, Florida.
- A portion of the acquisition was structured as a reverse like-kind exchange in anticipation of possible future income property dispositions by the Company.
WINTER PARK, Fla., March 19, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced the closing of the sale of its mixed-use property totaling approximately 136,000 square feet in downtown Santa Fe, New Mexico (the “Property”).
Key Points:
- WINTER PARK, Fla., March 19, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced the closing of the sale of its mixed-use property totaling approximately 136,000 square feet in downtown Santa Fe, New Mexico (the “Property”).
- The Property was sold for approximately $20.0 million, representing an exit cap rate within the range of the Company’s current guidance for disposition cash yields and generating a gain on sale of approximately $4.6 million.
- Following the completion of the 1031 Exchange, the Company intends to use available proceeds to repay a portion of the outstanding balance under its revolving unsecured credit facility or fund future acquisitions.
- With the closing of this transaction, the Company has approximately $30.7 million of proceeds held in 1031 restricted cash accounts.
WINTER PARK, Fla., March 11, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today provided an update on its recent leasing activities:
Key Points:
- WINTER PARK, Fla., March 11, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today provided an update on its recent leasing activities:
Year-to-date, signed 16 leases totaling 112,480 square feet at an average cash base rent of $27.49 per square foot.
- On a comparable basis, which excludes vacancy existing at the time of acquisition, CTO signed 12 leases totaling 103,065 square feet at an average cash base rent of $26.58 per square foot compared to a previous average cash base rent of $14.06 per square foot, representing 89% comparable growth.
- Executed an approximately 45,000 square foot lease with a regional fitness tenant for the replacement of Regal Cinemas at Beaver Creek Crossing in Apex, NC.
- Signed notable new leases, renewals, or extensions with Altar’d State, Bath & Body Works, Occidental Petroleum, Total Wine & More and Sunglass Hut.
Retrieved on:
Wednesday, February 28, 2024
WINTER PARK, Fla., Feb. 28, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) announced today that its Senior Vice President, Chief Financial Officer and Treasurer, Matthew M. Partridge, has resigned from the Company, effective as of April 1, 2024 (the “Effective Date”), to pursue another opportunity with a new venture not in the REIT industry.
Key Points:
- WINTER PARK, Fla., Feb. 28, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) announced today that its Senior Vice President, Chief Financial Officer and Treasurer, Matthew M. Partridge, has resigned from the Company, effective as of April 1, 2024 (the “Effective Date”), to pursue another opportunity with a new venture not in the REIT industry.
- Following the Effective Date, Mr. Partridge intends to provide further assistance with certain needs of the Company during the Company’s first quarter reporting period in order to ensure a successful transition.
- The Company has begun its search for a new Chief Financial Officer.
- CTO has an incredibly talented team and I’m grateful to have worked alongside each of them to help the Company achieve its strategic and financial goals.”
Retrieved on:
Thursday, February 22, 2024
WINTER PARK, Fla., Feb. 22, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced its operating results and earnings for the quarter and year ended December 31, 2023.
Key Points:
- WINTER PARK, Fla., Feb. 22, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced its operating results and earnings for the quarter and year ended December 31, 2023.
- Reported AFFO per diluted share attributable to common stockholders of $1.91 for the year ended December 31, 2023.
- Reported Net Income per diluted share attributable to common stockholders of $0.25 for the quarter ended December 31, 2023.
- “Operational performance in the fourth quarter was strong, with comparable leasing rent growth of nearly 18% and same-store NOI growth of just under 5%.
Retrieved on:
Tuesday, February 20, 2024
WINTER PARK, Fla., Feb. 20, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) announced today that its Board of Directors has authorized, and the Company has declared a quarterly cash dividend of $0.38 per share of common stock for the first quarter of 2024 (the “Common Stock Cash Dividend”).
Key Points:
- WINTER PARK, Fla., Feb. 20, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) announced today that its Board of Directors has authorized, and the Company has declared a quarterly cash dividend of $0.38 per share of common stock for the first quarter of 2024 (the “Common Stock Cash Dividend”).
- The Common Stock Cash Dividend represents an annualized yield of approximately 9.3% based on the closing price of the Company’s common stock on February 16, 2024.
- The Common Stock Cash Dividend is payable on March 28, 2024, to stockholders of record as of the close of business on March 14, 2024, and the ex-dividend date for the Common Stock Cash Dividend is March 13, 2024.
- The Board of Directors also authorized, and the Company has declared, a quarterly cash dividend of $0.39844 per share of the Company’s 6.375% Series A Cumulative Redeemable Preferred Stock for the first quarter of 2024, to be paid on March 28, 2024, to stockholders of record as of the close of business on March 14, 2024.
