CTO Realty Growth, Inc. Earnings Recaps
Q3 2025
Oct 29, 2025
CTO Realty Growth reported robust leasing activity for Q3 2025, achieving a 21.7% weighted average base rent spread and significantly strengthening its portfolio.
Key takeaways
- Completed 482,000 square feet of leasing year-to-date, including 143,000 square feet in Q3 at an average base rent of $23 per square foot.
- Six out of ten vacant anchor spaces have been leased, with a targeted positive cash leasing spread of 40% to 60%.
- Core FFO rose to $15.6 million, a $3 million increase year-over-year, despite a slight drop in per share metrics to $0.48.
- Strengthened balance sheet with $170 million in liquidity and successful refinancing efforts, reducing net debt to EBITDA to 6.7x.
- Signed notable leases at the Shops at Legacy, enhancing the property’s lease percentage to approximately 85%.
Q2 2025
Jul 30, 2025
CTO Realty Growth reported robust leasing activity in Q2 2025, achieving a 27% cash rent spread on comparable leases, while successfully addressing opportunities with its anchor spaces, setting a positive outlook for future earnings.
Key takeaways
- Signed 227,000 square feet of new leases, renewals, and extensions at an average cash base rent of $25.43 per square foot.
- Achieved strong leasing momentum with a signed but not opened pipeline valued at $4.6 million, contributing to anticipated earnings growth into 2026.
- Maintained a solid portfolio occupancy rate of 90.2%, with 93.9% of properties leased, driven by strategic tenant replacements and proactive leasing efforts.
- Concluded settlement of $51 million in convertible notes, improving the balance sheet and positioning for future acquisitions in core markets.