CTO Realty Growth, Inc. reported a total revenue of $35.8 million for the three months ended March 31, 2025, marking a 27.4% increase from $28.1 million in the same period last year. The growth was primarily driven by a significant rise in income from properties, which generated $31.7 million compared to $24.6 million in the prior year. This increase reflects the impact of recent acquisitions and improved performance from existing properties. However, net income attributable to the company decreased to $2.3 million, down from $5.8 million in the previous year, largely due to the absence of gains on asset dispositions that had contributed $9.2 million in the prior period.
The company’s total assets increased to $1.24 billion as of March 31, 2025, up from $1.18 billion at the end of 2024. This growth was fueled by the acquisition of Ashley Park, a multi-tenant income property in Newnan, Georgia, for $80 million, which was 92% occupied at the time of purchase. The company’s long-term debt also rose significantly, reaching $602.2 million, compared to $519.0 million at the end of 2024, reflecting increased borrowing to finance acquisitions.
Operationally, CTO Realty Growth managed 24 commercial properties across seven states, totaling 5.2 million square feet of gross leasable space. The company reported a weighted average remaining lease term of 4.9 years for its properties. The management services segment generated $1.2 million in revenue, slightly up from $1.1 million in the previous year, while interest income from commercial loans and investments rose to $3.0 million from $1.4 million, indicating a positive trend in this area.
Looking ahead, CTO Realty Growth anticipates continued investment in income-producing properties, with a target range of $100 million to $200 million for 2025. The company plans to utilize cash on hand, operational cash flow, and proceeds from property dispositions to fund these acquisitions. Despite the challenges posed by market conditions, the company remains focused on expanding its portfolio in business-friendly markets with strong growth potential.
About CTO Realty Growth, Inc.
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