CTO Realty Growth Posts $46.9M in Q3 Revenue
CTO sits 21% above its 52-week low of $16.02.
Summary
CTO Realty Growth reported third-quarter revenue of $46.9 million, alongside a loss of $7.05 million, or 19 cents a share. The print gives no FFO, guidance, or comparison to estimates, so the read-through versus Q2's Core FFO of $0.53 per share is not yet clear. The quarter lands after an active stretch: a $63.3M Kansas City retail acquisition in September, a $1.0 billion amended credit facility that extended maturities, and a 545,000-square-foot power center purchase in October. Those deals should be the main drivers behind the revenue line, and the key question is whether the added assets are already contributing and at what cost of capital.
At the time of this announcement, CTO was trading at $19.45 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $729.1M. The 52-week trading range was $16.02 to $22.71. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.