CTO Realty Growth Q3 Core FFO rises 10%, outlook lifted

Overview

• US shopping center REIT's Q3 Core FFO per share rose 10% yr/yr

• Company raised 2026 Core FFO per share guidance

• Q3 net loss reported, but AFFO per share increased yr/yr

Outlook

• CTO Realty Growth raises 2026 Core FFO guidance to $2.11-$2.14 per share

• Company expects 2026 AFFO per share of $2.22-$2.25

• Company now sees 2026 investment volume at $472 mln, up from $300-$400 mln prior

Result Drivers

• LEASING MOMENTUM - Co attributed results to continued leasing activity and a $5.6 mln signed-not-open leasing pipeline

• INVESTMENT ACTIVITY - Co completed $102.3 mln of investments in Q3, including acquisition of Zona Rosa and loan origination

• NOI GROWTH - Same-property NOI for shopping centers rose 3.8% yr/yr in Q3

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "buy"

• Wall Street's median 12-month price target for CTO Realty Growth, Inc. is $24.50, about 24.7% above its October 26 closing price of $19.64

• The stock recently traded at 37 times the next 12-month earnings vs. a P/E of 43 three months ago

Reuters Recommended Reads

• Oct 26 - Phillips Edison's Q3 Core FFO per share up; lifts FY forecast on strong leasing and occupancy

• Oct 26 - Brixmor Property Group Q3 FFO rises, dividend up 7.3%

• Oct 26 - Piedmont Realty Trust Q3 core FFO per share rises as rental rates grew, new leases started

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)