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Mar 31, 2022
CTO Q1 2022 Earnings Report
CTO Realty Growth's operating results for Q1 2022 were announced.
Key Takeaways
CTO Realty Growth reported a net loss per diluted share of $0.17, a Core FFO per diluted share of $1.39, and an AFFO per diluted share of $1.48 for the quarter ended March 31, 2022. The company acquired one multi-tenant income property for $39.1 million and entered into a loan agreement for $8.7 million. They also sold two single tenant income properties for $24.0 million.
Net Loss per diluted share attributable to common stockholders decreased by 112.9% to $0.17.
Core FFO per diluted share attributable to common stockholders increased by 69.5% to $1.39.
AFFO per diluted share attributable to common stockholders increased by 52.6% to $1.48.
Same-Property NOI increased by 17.7%.
Revenue by Segment
Forward Guidance
The Company has increased its outlook for 2022 to take into account the Company’s first quarter performance and revised expectations regarding the Company’s investment activities, forecasted capital markets transactions, and the impact from implementation of certain accounting standards.
Positive Outlook
- Acquisition of Income Producing Assets and Structured Investments between $200 million and $250 million.
- Target Initial Cash Yield between 6.50% and 7.00%.
- Disposition of Assets between $40 million and $70 million.
- Target Disposition Cash Yield between 5.25% and 6.50%.
- Core FFO per Diluted Share between $4.55 and $4.80
Challenges Ahead
- AFFO per Diluted Share between $4.95 and $5.20
- Weighted Average Diluted Shares Outstanding between 6.1 million and 6.3 million.
- The Company’s outlook for 2022 assumes continued stability in economic activity.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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