Loading...
•
Mar 31, 2024
CTO Q1 2024 Earnings Report
Reported operating results for the first quarter of 2024.
Key Takeaways
CTO Realty Growth reported a positive start to 2024 with strategic property acquisitions and dispositions, alongside strong leasing activity and increased guidance for Core FFO and AFFO.
Net income per diluted share was $0.20.
Core FFO per diluted share was $0.48.
AFFO per diluted share was $0.52.
Same-Property NOI increased by 6.0% compared to Q1 2023.
Revenue by Segment
Forward Guidance
The Company has increased its Core FFO and AFFO outlook for 2024.
Positive Outlook
- Same-Property NOI growth of 2% to 4%.
- Year-end 2024 leased occupancy projected to be within a range of 95% to 96%.
- Investment, including structured investments, between $100 million and $150 million at a weighted average initial cash yield between 7.75% and 8.25%.
- Disposition of assets between $50 million and $75 million at a weighted average exit cash yield between 7.50% and 8.25%
- General and administrative expenses within a range of $15.2 million to $16.2 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...