CTO Realty (CTO) Sells Mixed-Use Asset to Boost Core Properties [Yahoo! Finance]
CTO Realty Growth, Inc. (CTO)
NASDAQ:AMEX Investor Relations:
ir.ctlc.com
Company Research
Source: Yahoo! Finance
The transaction, valued at $20.0 million, resulted in a gain on sale of around $4.6 million. The disposition of the mixed-use property is part of a broader strategy to optimize the portfolio and enhance financial flexibility. CTO Realty Growth intends to utilize the sales proceeds as part of a Section 1031 like-kind exchange, with the ultimate goal of repaying a portion of the outstanding balance under its revolving unsecured credit facility or financing future acquisitions. The company currently holds proceeds of approximately $30.7 million in 1031 restricted cash accounts following the mixed-use property transaction. John P. Albright, the president and chief executive officer of CTO Realty Growth, noted that in recent months, the company has sold a number of its smaller non-core properties and almost all of its legacy office exposure. Particularly, during the fourth quarter of 2023, CTO Realty Growth sold six properties for a total disposition volume of $64.2 million at a weig
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News
- Those who invested in CTO Realty Growth (NYSE:CTO) five years ago are up 48% [Yahoo! Finance]Yahoo! Finance
- Heritage Real Estate Co. completes acquisition of Santa Fe office complex [Yahoo! Finance]Yahoo! Finance
- CTO Realty Growth, Inc. (NYSE: CTO) is now covered by analysts at Alliance Global Partners. They set a "buy" rating and a $20.00 price target on the stock.MarketBeat
- CTO Realty Growth Announces Pricing of Public Offering of 6.375% Series A Cumulative Redeemable Preferred StockGlobeNewswire
- CTO Realty Growth Announces Commencement of Public Offering of 6.375% Series A Cumulative Redeemable Preferred Stock [Yahoo! Finance]Yahoo! Finance
CTO
Earnings
- 2/22/24 - Beat
CTO
Sec Filings
- 4/10/24 - Form 8-K
- 4/5/24 - Form 424B5
- 4/4/24 - Form FWP
- CTO's page on the SEC website