CTO Realty Growth, Inc. announced its operating and financial results for the first quarter ended March 31, 2025, reporting Funds From Operations (FFO) of $15.5 million, or $0.49 per share, exceeding the average analyst estimate of $0.48 per share. Net income attributable to common stockholders was $0.383 million, or $0.01 per diluted share, on revenues of $35.8 million.
The company reported strong operational fundamentals, with Same-Property Net Operating Income increasing by 2.4% year-over-year to $17.1 million. Leasing activity was robust, with 17 comparable leases signed totaling 109,402 square feet, achieving a significant 37.2% comparable cash rent growth.
CTO reaffirmed its full-year 2025 Core FFO guidance of $1.80 to $1.86 per share and AFFO guidance of $1.93 to $1.98 per share. The company also completed the full payoff of its remaining 2025 Convertible Senior Notes on April 15, 2025, for an aggregate cash payment of $22.0 million, following a partial extinguishment in early April.
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