CTO Realty Growth(NYSE) CTO

CTO Realty Growth, Inc. owns and operates retail shopping centers. It rents store space to businesses that sell everyday goods. The company also manages property portfolios for other real estate firms.

The Property Portfolio

• Income Properties: Portfolio of 17 shopping centers and four other commercial buildings; generated $73.7 million in revenue during the six-month period ended June 30, 2026.
• Commercial Loans and Investments: Collection of four loan investments and three preferred equity positions; generated $8.5 million in interest income during the first half of 2026.
• Management Services: Fee-based business overseeing external real estate portfolios and subsurface interests; generated $2.8 million for the six-month period ended June 30, 2026.
• Investment in PINE: Ownership stake of 13.1% in Alpine Income Property Trust, Inc. which provides dividend income; fair value was $51.3 million as of June 30, 2026.

Recent Strategic Moves

• Acquired two shopping centers and one land parcel for $138.1 million during the first half of 2026.
• Sold two shopping center properties for $90.7 million in the six-month period ended June 30, 2026.
• Completed two preferred equity investments totaling $96.4 million during the three months ended June 30, 2026.
• Raised $97.8 million in net proceeds through stock sales during the first six months of 2026.

A Focus on Growth Markets

The company focuses on retail properties in fast-growing markets with low taxes and high population growth. It uses a tax-deferred structure known as a 1031 like-kind exchange to sell assets and reinvest proceeds into new properties without immediate tax costs.

The Financial Scorecard

• Total revenue reached $85.0 million for the six-month period ended June 30, 2026, a 15.7% increase year over year.
• Net income was $21.3 million for the six months ended June 30, 2026, compared to a $21.2 million loss in the prior year.
• Cash flows from operating activities were $34.6 million for the first half of 2026, up $7.1 million year over year.
• Restricted cash totaled $35.4 million as of June 30, 2026.

Bottom Line

CTO has evolved from a land-focused firm into a manager of high-quality retail centers. Its strategy centers on recycling capital to invest in markets where retail demand exceeds supply.