Overview

* CTO Realty Q3 net income falls 76.2% yr/yr, Core FFO rises 23.7%

* Company raises full-year 2025 Core FFO and AFFO outlook

* CTO Realty secures $150 mln term loan, repays $65 mln loan

Outlook

* CTO Realty Growth ( CTO ) raises full-year 2025 Core FFO guidance to $1.84-$1.87 per share

* Company expects 2025 AFFO per share between $1.96 and $1.99

* CTO anticipates 2025 same-property NOI growth of approximately 2.5%

Result Drivers

* LEASING ACTIVITY - CTO Realty signed 143,000 sq ft of leases in Q3, achieving a 21.7% positive rent spread on comparable leases

* TERM LOAN FINANCING - Secured $150 mln in new term loan financing at 4.2% interest rate, used to repay $65 mln loan

* SIGNED-NOT-OPEN PIPELINE - Current pipeline of $5.5 mln expected to drive future NOI growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net $2.91

Income mln

Q3 Core $15.63

FFO mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the commercial reits peer group is "buy"

* Wall Street's median 12-month price target for CTO Realty Growth Inc ( CTO ) is $21.50, about 23.6% above its October 27 closing price of $16.43

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)