CTO Realty Growth, Inc. (NYSE: CTO)

CTO Realty Growth, Inc., also known as CTO, is a publicly traded equity real estate investment trust (REIT) operating in the retail and mixed-use property industry. The company is listed on the New York Stock Exchange under the ticker symbol CTO. As a REIT, CTO specializes in investing in income-producing properties, managing properties, and generating revenue from commercial loans and investments.

CTO's primary business activities include investing in high-quality retail and mixed-use properties located in faster-growing, business-friendly markets. The company's income property portfolio consists of 20 commercial real estate properties in eight states, with a total gross leasable area of approximately 3.7 million square feet. These properties are predominantly located in the southeastern United States, with a focus on markets such as Florida, Georgia, and Texas. CTO's properties are diversified across various property types, including retail, office, and industrial properties, demonstrating the company's wide-ranging investment strategy.

The company generates revenue from its income properties through rental income, management fees, and other sources. In 2023, the company's income properties generated revenue of $96.7 million, with an average occupancy rate of 90%. The company's management services business generates revenue from managing PINE, a real estate investment trust, and other properties. In 2023, the company's management services business generated revenue of $4.4 million.

CTO's competitive advantages include its focus on high-quality retail and mixed-use properties, its diversified portfolio of income properties, and its ability to generate revenue from commercial loans and investments. These advantages position CTO competitively against other REITs and real estate investment companies that focus on similar property types and markets.

CTO's customers include a diverse range of tenants, including national retailers, restaurants, and other businesses. The company's largest tenants include companies such as Target, Walmart, and Publix, demonstrating the company's appeal to big-name brands.

CTO's real estate operations include the sale of mitigation credits and subsurface interests, as well as the leasing of exploration rights. The company's commercial loans and investments portfolio consists of four commercial loan investments and one preferred equity investment, with a total carrying value of $61.8 million. These loans and investments are secured by real estate or the borrower's pledge of its ownership interest in the entity that owns the real estate.

In terms of its position within the industry, CTO is a mid-cap REIT with a market capitalization of approximately $500 million. The company's management team has extensive experience in the real estate industry, with a focus on retail and mixed-use properties, further solidifying its position within the industry.