CTO Realty Growth raises 2026 Core FFO outlook after Q1 profit rise

CTO Realty Growth

28/04/2026 21:36

Overview

U.S. shopping center REIT's Q1 net income and Core FFO per share rose yr/yr

Company completed $81.6 mln acquisition of Palms Crossing retail center in Texas

Raised 2026 Core FFO per share guidance and investment outlook

Outlook

CTO Realty Growth raises 2026 investment guidance to $175 mln to $250 mln

Company increases 2026 Core FFO per diluted share guidance to $2.06 to $2.11

Same-property NOI 2026 growth for shopping centers remains unchanged at 3.5% to 4.5%

Result Drivers

LEASING ACTIVITY - Co executed 146,000 sq ft of comparable retail leases at a 14% positive cash rent spread

SAME-PROPERTY NOI GROWTH - Shopping center same-property NOI rose 6.8%, or 4.2% excluding non-recurring recovery benefits

PORTFOLIO EXPANSION - Acquired Palms Crossing, a 399,000 sq ft open-air retail center in Texas for $81.6 mln

Company press release: ID:nGNX9PtSV5

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.13
Q1 Net Income
$6.21 mln
Q1 Core FFO
$16.93 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 $22.00, about 12.4% above its April 27 closing price of $19.57

The stock recently traded at 142 times the next 12-month earnings vs. a P/E of 167 three months ago

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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.)