CTO Realty Growth, Inc. reported its financial results for the quarter and nine months ended September 30, 2026. The company reported a net loss attributable to common stockholders of $0.19 per diluted share for the third quarter of 2026, compared to net income of $0.03 per share in the prior year. Core Funds from Operations (Core FFO) attributable to common stockholders totaled $0.53 per diluted share for the quarter, representing a 10% year-over-year increase. Adjusted Funds from Operations (AFFO) per diluted share was $0.55.
Portfolio performance showed growth in same-property Net Operating Income (NOI), which increased 3.8% for the quarter and 6.2% year-to-date compared to 2025. The company executed 396,000 square feet of comparable retail leases during the quarter, achieving a positive cash rent spread of 7%. As of September 30, 2026, total portfolio leased occupancy was 92.4%, while same-property shopping center occupancy stood at 95.8%.
During the third quarter, CTO Realty Growth completed $102.3 million in investments at a weighted average yield of 9.1%. Key acquisitions included Zona Rosa, a 768,000-square-foot mixed-use center in Kansas City, Missouri, for $63.3 million, and a $37.0 million loan secured by a leasehold interest in a mixed-use property in Austin, Texas, which carries a 9.75% initial cash yield.
Subsequent to the quarter-end, the company announced additional investments totaling $135.8 million. This includes the acquisition of Summit Woods Crossing in Kansas City for $103.0 million and a $32.0 million preferred equity investment in a joint venture owning a portfolio of ten shopping centers. Year-to-date investments, including these subsequent events, total $472.3 million at a weighted average yield of 9.4%.
On the balance sheet, CTO Realty Growth closed a $1.0 billion amended and restated unsecured credit facility, increasing total commitments by $250 million. The company repaid its $17.8 million secured mortgage and issued 1,271,472 common shares under its ATM program, generating $27.3 million in net proceeds. As of September 30, 2026, the company reported total liquidity of $254.6 million and total borrowings of $723.0 million at a weighted average interest rate of 4.7%.
CTO Realty Growth has revised its 2026 guidance. The company now expects Core FFO per diluted share to range from $2.11 to $2.14, up from the previous range of $2.09 to $2.13. AFFO per diluted share is expected to be between $2.22 and $2.25. The company also increased its estimated investment volume for the year to $472 million.
