Quarterly ResultApr 28, 2026, 04:17 PM
CTO Q1 Core FFO $0.52; Raises 2026 FFO & Investment Guidance
AI Summary
CTO Realty Growth reported strong first-quarter 2026 operating and financial results, with Core FFO per diluted share increasing to $0.52 and shopping center same-property NOI growing by 6.8%. The company completed an $81.6 million acquisition of Palms Crossing in McAllen, Texas, and subsequently invested $75.0 million in preferred equity in another retail property. Reflecting this strong performance and pipeline, CTO raised its 2026 Core FFO per diluted share guidance to $2.06-$2.11 and increased its investment guidance to $175-$250 million.
Key Highlights
- CTO Q1 2026 Core FFO per diluted share was $0.52, up from $0.46 in Q1 2025.
- Net Income attributable to common stockholders was $0.13 per diluted share for Q1 2026.
- Shopping center same-property NOI increased by 6.8% (4.2% excluding non-recurring benefits).
- Executed 146,000 square feet of comparable retail leases at a 14% positive cash rent spread.
- Acquired Palms Crossing, a 399,000 sq ft retail center in McAllen, Texas, for $81.6 million.
- Subsequent to quarter-end, invested $75.0 million in preferred equity in a Class A retail property.
- Raised 2026 Core FFO per diluted share guidance to $2.06-$2.11 from $1.98-$2.03.
- Increased 2026 Investment Guidance to $175-$250 million from $100-$200 million.
Price Impact
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