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

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Loss Per Share

$0.19

Q3 Net Loss

$7.05 mln

Q3 Core FFO

$19.82 mln


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


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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