CTO Realty Growth, Inc.

Listed Company

CTO-PACIK 0000023795NYSEAcceleratedReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$149.54M

Net Income

$10.09M

Total Assets

$1.26B

Equity

$567.35M

Shares Out

33.78M

Op. Cash Flow

$64.60M

Business

CTO Realty Growth, Inc. is a publicly traded, self-managed equity REIT that focuses on the ownership, management and repositioning of high-quality retail and mixed-use properties in faster-growing, business-friendly U.S. markets. The company offers income-producing real estate investments, originates and holds commercial loans and preferred equity, and provides fee-based asset and subsurface management services, including management of related-party portfolios. Its key business segments comprise income properties, management services, commercial loans and investments, and real estate operations. CTO distributes and manages properties and services across multiple U.S. states through direct ownership, third-party property management and contractual management agreements.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Income Properties	132	111	97	69	—
Interest Income From Commercial Loans and Investments	13	7	4	4	—
Total Revenues	150	125	109	82	70
Total Direct Cost of Revenues	−38	−33	−30	−23	−22
General and Administrative Expenses	−19	−16	−14	−13	−11
Provision for Impairment	−100,000	−700,000	−2	0	−18
Depreciation and Amortization	−60	−65	−44	−29	−21
Total Operating Expenses	−117	−115	−90	−65	−72
Gain on Disposition of Assets	21	8	8	−7	28
Loss on Extinguishment of Debt	−20	—	—	—	3
Other Gain	1	8	8	−7	25
Total Operating Income	34	18	27	11	23
Investment and Other Income	3	3	2	776,000	−12
Interest Expense	−27	−23	−22	−11	−9
Income (Loss) Before Income Tax Benefit (Expense)	11	−2	6	328,000	27
Income Tax Benefit (Expense)	−446,000	339,000	−604,000	3	3
Net Income (Loss) Attributable to the Company	10	−2	6	3	30
Distributions to Preferred Stockholders	−8	−7	−5	−5	−2
Net Income (Loss) Attributable to Common Stockholders	3	−9	758,000	−2	28
Basic Net Income (Loss) Attributable to Common Stockholders (in dollars per share)	0.08	−0.35	0.03	−0.09	1.56
Diluted Net Income (Loss) Attributable to Common Stockholders (in dollars per share)	0.08	−0.35	0.03	−0.09	1.56
Weighted Average Number of Common Shares - Basic (in shares)	32	25	23	19	18
Weighted Average Number of Common Shares - Diluted (in shares)	32	25	23	19	18

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Land, at Cost	289	258	222	234	190
Building and Improvements, at Cost	766	720	559	530	325
Other Furnishings and Equipment, at Cost	923,000	883,000	857,000	748,000	707,000
Construction in Process, at Cost	4	5	4	6	3
Total Real Estate, at Cost	1,060	984	786	771	519
Less, Accumulated Depreciation	−107	−83	−52	−36	−24
Real Estate-Net	953	901	734	735	495
Land and Development Costs	300,000	300,000	731,000	685,000	692,000
Intangible Lease Assets-Net	85	79	97	116	79
Investment in Alpine Income Property Trust, Inc.	41	40	39	42	41
Commercial Loans and Investments	105	105	62	32	39
Cash and Cash Equivalents	6	9	10	19	9
Restricted Cash	35	8	8	2	23
Refundable Income Taxes	—	70,000	246,000	448,000	442,000
Deferred Income Taxes-Net	2	2	2	3	—
Other Assets-See Note 12	36	36	35	34	15
Total Assets	1,264	1,182	990	987	733
Accounts Payable	2	3	3	3	676,000
Accrued and Other Liabilities-See Note 18	28	21	18	18	13
Deferred Revenue-See Note 19	19	10	5	6	5
Intangible Lease Liabilities-Net	31	15	10	10	6
Income Taxes Payable	29,000	—	—	—	—
Long-Term Debt-Net	616	519	495	446	278
Total Liabilities	697	569	532	482	303
Commitments and Contingencies-See Note 22	—	—	—	—	—
Preferred Stock - 100,000,000 shares authorized; $0.01 par value, 6.375% Series A Cumulative Redeemable Preferred Stock, $25.00 Per Share Liquidation Preference, 4,713,069 shares issued and outstanding at December 31, 2025 and 2024	47,000	47,000	30,000	30,000	30,000
Common Stock - 500,000,000 shares authorized; $0.01 par value, 32,372,291 shares issued and outstanding at December 31, 2025 and 31,673,479 shares issued and outstanding at December 31, 2024	324,000	317,000	226,000	229,000	60,000
Additional Paid-In Capital	382	368	168	172	85
Retained Earnings	185	232	282	316	343
Accumulated Other Comprehensive Income (Loss)	−405,000	13	7	16	2
Total Stockholders' Equity	567	613	458	505	430
Total Liabilities and Stockholders' Equity	1,264	1,182	990	987	733

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net Income (Loss) Attributable to the Company	10	−2	6	3	30
Depreciation and Amortization	60	65	44	29	21
Amortization of Intangible Assets and Liabilities to Income Property Revenue	−1	−254,000	2	2	−404,000
Amortization of Deferred Financing Costs to Interest Expense	1	1	970,000	755,000	586,000
Amortization of Discount on Convertible Debt	45,000	159,000	159,000	189,000	1
Gain on Disposition of Real Estate and Intangible Lease Assets and Liabilities	−21	−4	−8	−4	−28
Gain on Disposition of Subsurface Interests	—	−5	—	—	—
Accretion of Commercial Loans and Investments Origination Fees	−733,000	−276,000	−137,000	−174,000	−2,000
Non-Cash Imputed Interest	−19,000	−29,000	−29,000	−126,000	−438,000
Deferred Income Taxes	158,000	−458,000	521,000	−3	−3
Unrealized Loss (Gain) on Investment Securities	−39,000	1	4	2	−10
Extinguishment of Contingent Obligation	—	—	−3	—	—
Non-Cash Compensation	4	4	4	3	3
Refundable Income Taxes	70,000	176,000	202,000	−5,000	−416,000
Land and Development Costs	—	2,000	−46,000	7,000	6
Mitigation Credits and Mitigation Credit Rights	—	1	2	10	−16
Other Assets	−8	−4	−5	−5	−3
Accounts Payable	−2	522,000	214,000	2	−370,000
Accrued and Other Liabilities	1	4	−3	4	6
Deferred Revenue	−730,000	−2	−642,000	1	1
Income Taxes Payable	29,000	—	—	—	—
Net Cash Provided By Operating Activities	65	60	46	56	28
Acquisition of Real Estate and Intangible Lease Assets and Liabilities	−145	−224	−80	−298	−256
Investments in and Improvements to Real Estate	−15	−17	−23	−16	—
Acquisition of Commercial Loans and Investments	−14	−64	−33	−53	−364,000
Proceeds from Disposition of Property, Plant, and Equipment, Net	84	37	84	41	129
Proceeds from Disposition of Subsurface Interests	—	5	—	—	—
Principal Payments Received on Commercial Loans and Investments	15	20	1	62	—
Cash Received for Commercial Loan Reserves	10	10	100,000	—	—
Acquisition of Investment Securities	−9	−447,000	−3	−3	−143,000
Proceeds from the Sale of Investment Securities	2	2	1	41	129
Net Cash Used In Investing Activities	−72	−233	−52	−268	−103
Proceeds from Long-Term Debt	405	366	149	381	315
Payments on Long-Term Debt	−292	−342	−100	−234	−284
Cash Paid for Loan Fees	−2	−1	−180,000	−3	−2
Cash Proceeds from Common Stock Issuance	648,000	647,000	375,000	—	—
Proceeds from Issuance of Preferred Stock, Net of Underwriting Discount and Expenses	—	33	—	—	72
Cash Used to Purchase Common Stock	−9	−664,000	−6	−3	−2
Cash Paid for Vesting of Restricted Stock	−1	−1	−1	−845,000	−436,000
Proceeds from (Cash Paid for) Issuance of Common and Preferred Stock, Net	−124,000	165	−175,000	94	—
Cash Paid for Premium Related to Settlement of 2025 Notes	−14	—	—	—	—
Dividends Paid - Preferred Stock	−8	−7	−5	−5	−2
Dividends Paid - Common Stock	−49	−40	−34	−29	−24
Net Cash Provided By Financing Activities	31	172	3	201	73
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	24	−458,000	−3	−10	−2
Cash Paid for Taxes, Net of Refunds Received	200,000	−100,000	−100,000	107,000	406,000
Cash Paid for Interest	26	21	22	10	−7
Capitalized interest	300,000	300,000	300,000	200,000	0
Common Stock Dividends Declared and Unpaid	737,000	796,000	827,000	683,000	493,000
Principal Related to Settlement of 2025 Notes, Paid in Common Stock	15	—	—	—	—
Premium Related to Settlement of 2025 Notes, Paid in Common Stock	6	—	—	—	—

Filings

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