Welcome to our dedicated page for Cto Realty Growth news (Ticker: CTO), a resource for investors and traders seeking the latest updates and insights on Cto Realty Growth stock.
CTO Realty Growth Inc (NYSE: CTO) operates as a diversified real estate investment trust with a national portfolio of income-generating properties. This page serves as the definitive source for official company announcements, financial disclosures, and strategic developments.
Investors and analysts will find curated access to earnings reports, acquisition announcements, management updates, and operational milestones. Our news collection provides timestamped records of all press releases alongside third-party analysis for comprehensive due diligence.
Key updates include quarterly financial results, property portfolio expansions, leadership changes, and market positioning strategies. All content is sourced directly from company filings or reputable financial publications to ensure accuracy.
Bookmark this page for streamlined tracking of CTO's performance within the commercial real estate sector. Combine our news archive with SEC filings and investor relations materials for complete market analysis.
CTO Realty Growth (NYSE: CTO) announced the acquisition of Eastern Commons, a 147,000 square foot retail property in Las Vegas, for approximately $18.5 million, equating to $126 per square foot. This purchase marks CTO's entry into the growing Las Vegas market and is expected to enhance its portfolio. The property is 88% occupied with an average lease term of 7.1 years, anchored by notable tenants including At Home and Seafood City. The transaction was partly funded through a 1031 exchange using $13.3 million of restricted cash from prior sales.
CTO Realty Growth (NYSE: CTO) announced an amendment to its unsecured credit agreement, securing a new $50 million term loan and increasing its revolving credit facility from $200 million to $210 million. The term loan, maturing in March 2026, has a fixed interest rate of 1.72% based on current leverage. This financing arrangement provides the company with liquidity to refinance an expiring mortgage and improves its debt maturity profile. The company expresses gratitude for the support of its bank group and emphasizes enhanced flexibility from these credit facilities.
CTO Realty Growth, Inc. (NYSE: CTO) announced the acquisition of a 183,000 square foot retail property in West Jordan, Utah, for approximately $20 million. The property, 93% occupied with a weighted-average lease term of 7.9 years, is strategically located within a robust retail corridor and is anchored by major tenants like At Home and Burlington. This acquisition was part of a 1031 like-kind exchange, enhancing CTO's diversified portfolio within the growing Salt Lake City market.
CTO Realty Growth reported robust operating results for Q4 and FY 2020 following its successful REIT conversion. Highlights include a Q4 net income per diluted share of $16.60 and a 25.5% year-over-year revenue increase to $56.4 million. The company paid a record $13.88 in dividends per share, up 3,054.5% from the previous year. A total of $336 million in real estate transactions were completed in 2020, positioning the company strongly despite pandemic challenges, achieving 99% rent collection rates for Q4.
CTO Realty Growth has declared a quarterly cash dividend of $1.00 per share for Q1 2021, payable on March 31, 2021, to stockholders of record by March 22, 2021. This represents an annualized yield of approximately 8.2% based on the February 12, 2021 closing price. CTO Realty is a diversified real estate investment trust in the U.S. with a portfolio of 2.5 million square feet and a 23.5% interest in Alpine Income Property Trust.
CTO Realty Growth announced the completion of its merger with CTO NEWCO REIT, aiming for conversion to a real estate investment trust (REIT) for tax purposes. Existing CTO shares were converted to the surviving entity's common stock on a one-for-one basis. The newly formed company is named CTO Realty Growth, Inc. and is set to trade on the NYSE under the ticker 'CTO' from February 1, 2021. The firm operates a diverse portfolio of income properties, totaling approximately 2.4 million square feet across the U.S.
CTO Realty Growth (NYSE American: CTO) will announce its fourth quarter and full year 2020 financial results on February 18, 2021, after market close. A conference call is scheduled for February 19, 2021, at 9:00 AM ET for discussion of the results. Shareholders can participate via teleconference at 1-888-317-6003 or through a webcast available on their investor relations website. CTO Realty Growth operates a diversified portfolio of income properties totaling approximately 2.4 million square feet in the U.S. and holds a 23.5% interest in Alpine Income Property Trust (NYSE: PINE).
CTO Realty Growth (NYSE: CTO) has closed the sale of a property in Austin, Texas, leased to Outback Steakhouse for approximately $3.4 million, marking the end of a record year in transactions. This sale is part of their 2020 strategy, with total transaction activity reaching $336 million. The company completed four acquisitions worth $185 million with a 7.8% yield. Proceeds from sales are expected to fuel future investments, with $26.7 million in 1031 exchange cash available. The company remains focused on building a diversified real estate portfolio.
CTO Realty Growth (NYSE American: CTO) has announced the sale of a property in Aspen, Colorado, leased to A.G. Hill Partners, for $28.5 million. The Master Tenant exercised a repurchase option, allowing CTO to redeploy the proceeds into higher-yielding multi-tenant properties as part of its investment strategy. The company currently holds approximately $23.5 million in 1031 restricted cash accounts. CTO aims to support its dividend through strategic asset recycling following its recent REIT conversion.
CTO Realty Growth has completed a special distribution totaling approximately $55.8 million, aimed at distributing undistributed earnings and profits from taxable periods ending on or before December 31, 2019. The distribution was allocated as $5.6 million in cash and 1,198,963 shares of common stock. Shareholders of record from November 19, 2020, could choose between cash or shares, with cash payments around $2.10 per share and approximately 0.29 shares issued for each share held. Following the distribution, about 5,915,756 shares remained outstanding.
