CTO Earnings Prediction
The chart below shows how CTO performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CTO sees a -3.09% change in stock price 10 days leading up to the earnings, and a +0.40% change 10 days following the report. On the earnings day itself, the stock moves by +0.54%. This data can give you a slight idea of what to expect for the next quarter's release.
CTO Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
31.80M
--
10.26%
Gross Margin
58.04%
--
86.92%
Operating Margin
19.97%
--
4.77%
Net Margin
19.58%
--
377.56%
EPS
0.17
--
-666.67%
No Data Available
CTO Earnings Analysis
CTO Realty Growth, Inc. Corporation (CTO.N) Earnings Conference Call
Positive
Investment in Shopping Centers: In the quarter, we invested $191.3 million at a weighted average yield of 9.5%, including $137.5 million for a 3-property portfolio of shopping centers located in North Carolina and Florida.
Leasing Activity Overview: On the leasing front, we signed more than 200,000 square feet of new leases, renewals and extensions at an average rent of $21.17 per square foot, bringing our year-to-date leasing activity to 385,000 square feet at an average rent of $23.74 per square foot.
Lease Spread Performance: Our comparable lease spreads were 12% in the third quarter and 26% in the first 9 months of 2024.
Portfolio Expansion Growth: Combined, these centers added almost 900,000 square feet to our portfolio, growing our GLAb by over 20%.
Capital Raising Efficiency: With this amount of investment activity, we were pleased that we were able to efficiently raise capital that Phil will discuss in a few moments.
Negative
Core FFO Decline: Core FFO was $0.50 per diluted share for the quarter compared to $0.47 reported in the third quarter of 2023, indicating a decline in profitability.
AFFO Per Share Comparison: AFFO was $0.51 per diluted share for the quarter compared to $0.48 reported in the third quarter of 2023, reflecting a decrease in earnings.
Leasing Performance Decline: Comparable lease spreads were 12% in the third quarter and 26% in the first nine months of 2024, showing a significant drop in leasing performance.
Occupancy Rate Improvement: The company ended the third quarter with leased occupancy of 95.8%, an increase of 120 basis points from the previous quarter, suggesting challenges in maintaining occupancy levels.
Net Debt to EBITDA Ratio: The company reported a net debt to EBITDA of 6.4 times, a full turn lower than last quarter, indicating increased leverage and financial risk.
CTO FAQs
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CTO Earning Call Sentiment
CTO Realty Growth, Inc. (CTO) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
CTO.N
-1.14%Positive
The earnings call summary highlights strong financial performance, with increased occupancy rates, FFO growth, and NOI growth. The company has improved its debt metrics and maintains significant liquidity. The Q&A section reveals management's confidence in capital markets and acquisition strategies, despite some vague responses. Positive factors include increased guidance and a stable dividend payout. However, the issuance of new shares and potential economic challenges could temper enthusiasm. Overall, the sentiment leans positive, suggesting a likely stock price increase in the 2% to 8% range.