CTO Realty Growth Reports 16.5% Revenue Increase and Net Income Turnaround in Latest Quarter

CTO Realty Growth, Inc. reported significant financial improvements in its latest quarterly filing, showcasing a total revenue of $43.8 million for the three months ended June 30, 2026, a 16.5% increase from $37.6 million in the same period last year. The company's net income attributable to common stockholders surged to $13.2 million, compared to a net loss of $25.3 million in the prior year, marking a substantial turnaround in profitability. For the six months ended June 30, 2026, total revenue reached $85.0 million, up 15.7% from $73.4 million in the previous year, with net income attributable to common stockholders at $17.6 million, reversing a loss of $24.9 million in 2025.

The company's operational metrics reflected a robust performance, with income properties generating $37.1 million in revenue for the quarter, an 11.3% increase from $33.4 million in the prior year. This growth was attributed to the acquisition of new properties and improved leasing activity. Additionally, management fee income rose to $1.5 million, up 17.6% year-over-year, while interest income from commercial loans and investments increased by 73.4% to $5.2 million, driven by recent preferred equity investments.

Strategically, CTO Realty Growth made notable acquisitions during the first half of 2026, purchasing two shopping centers and a land parcel for a total of $138.1 million. The company also sold two shopping center properties for $90.7 million, generating a gain of $2.1 million. As of June 30, 2026, the company owned and managed 21 commercial properties across seven states, totaling 5.8 million square feet of gross leasable space. The company’s investment in Alpine Income Property Trust, Inc. (PINE) was valued at $51.3 million, representing 13.1% of PINE’s outstanding equity.

CTO Realty Growth's financial position remains strong, with total assets increasing to $1.41 billion as of June 30, 2026, compared to $1.26 billion at the end of 2025. The company reported cash and cash equivalents of $8.1 million and restricted cash of $35.4 million. The company’s long-term debt stood at $658.7 million, reflecting a strategic approach to leverage while maintaining compliance with debt covenants. Looking ahead, the company anticipates continued growth, with guidance for 2026 investments in income-producing properties ranging from $300 million to $400 million, funded through various sources including cash on hand and proceeds from property dispositions.