CTO Realty Growth, Inc. reported its operating results for the fourth quarter and full year ended December 31, 2024, achieving a record high Core FFO of $1.88 per share for the full year. The company closed $330.8 million in investments during 2024 at a weighted average initial cash yield of 9.3%.
For the fourth quarter of 2024, FFO was $14.9 million, or $0.49 per share, exceeding analyst expectations of $0.48 per share. Revenue for the quarter was $35.7 million, contributing to a full-year revenue of $124.5 million. Same-Property Net Operating Income for the full year increased by 4.0% over 2023.
CTO provided its outlook for 2025, projecting Core FFO between $1.80 and $1.86 per share and AFFO between $1.93 and $1.98 per share. The company plans $100 million to $200 million in investments for 2025 at a weighted average initial cash yield between 8.0% and 8.5%, and anticipates approximately 1% Same-Property NOI growth.
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