Quarterly ResultApr 28, 2026, 04:06 PM
CTO raises 2026 FFO guidance to $2.06-$2.11; Q1 FFO $0.52; Acquires $81.6M center
AI Summary
CTO Realty Growth reported Q1 2026 Core FFO of $0.52 per diluted share and Net Income of $0.13 per diluted share. The company completed an $81.6 million acquisition of Palms Crossing, a 399,000 sq ft retail center, and made a subsequent $75.0 million preferred equity investment. 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
- Acquired Palms Crossing retail center for $81.6 million.
- Made a $75.0 million preferred equity investment in a Class A retail property.
- Raised 2026 Core FFO per diluted share guidance to $2.06-$2.11.
- Increased 2026 investment guidance to $175-$250 million.
- Q1 2026 Core FFO per diluted share was $0.52, up from $0.46 YoY.
- Shopping center same-property NOI increased by 6.8% (4.2% ex-non-recurring).
- Executed 146,000 sq ft of leases at a +14% cash rent spread.
- Total property portfolio leased occupancy was 95.4% as of March 31, 2026.