Cto Realty Growth, Inc. · NYSE:CTO
Cto Realty Growth — Q1 2022 Earnings Presentation
19 slides from Cto Realty Growth's earnings presentation, Apr 28, 2022
Slide 1: Supplemental Reporting Information Q1 2022
© CTO Realty Growth, Inc. | ctoreit.com REALTY GROWTH Supplemental Reporting Information Q1 2022
Slide 2: Table of Contents
© CTO Realty Growth, Inc. | ctoreit.com 1. First Quarter 2021 Earnings Release 3 2. Key Financial Information ▪ Consolidated Balance Sheets 11 ▪ Consolidated Statements of Operations 12 ▪ Non - GAAP Financial Measures 13 3. Capitalization & Dividends 16 4. Summary of Debt 17 5. Investments 18 6. Dis
Slide 3: Capitalization & Dividends
© CTO Realty Growth, Inc. | ctoreit.com Capitalization & Dividends $ and shares outstanding in thousands, except per share data. As of March 31, 2022, unless otherwise noted Equity Capitalization Common Shares Outstanding 6,012 Common Share Price $66.32 Total Common Equity Market Capitalization $398
Slide 4: Debt Summary
© CTO Realty Growth, Inc. | ctoreit.com Debt Summary $ in thousands. As of March 31, 2022, unless otherwise noted. (1) See reconciliation as part of Non - GAAP Financial Measures in the Company’s First Quarter 2022 Earnings Release. Indebtedness Outstanding Face Value Interest Rate Maturity Date Typ
Slide 5: Investments
© CTO Realty Growth, Inc. | ctoreit.com Investments $ in thousands. As of March 31, 2022. Property Acquisitions Market Type Date Acquired Square Feet Price Occupancy At Acq .. Price Plaza Shopping Center – Katy, TX Houston, TX Multi - Tenant Retail 3/3/2022 205,813 $39,100 95% Total Acquisitions 205
Slide 6: Dispositions
© CTO Realty Growth, Inc. | ctoreit.com Property Market Type Date Sold Square Feet Price Gain (Loss) Party City – Oceanside, NY New York, NY Single Tenant Retail 1/7/2022 15,500 $6,949 ($60) The Carpenter Hotel – Austin, TX Austin, TX Hospitality Ground Lease 3/11/2022 73,508 17,095 (178) Total Disp
Slide 7: Portfolio Detail
© CTO Realty Growth, Inc. | ctoreit.com Portfolio Detail 20 Property Type Year Acquired/ Developed Square Feet In - Place Occupancy Leased Occupancy Cash ABR Cash ABR PSF Atlanta, GA Ashford Lane Multi - Tenant Retail 2020 283,732 71% 81% $6,018 $21.21 The Exchange at Gwinnett Multi - Tenant Retail
Slide 8: Portfolio Detail
© CTO Realty Growth, Inc. | ctoreit.com Portfolio Detail $ in thousands, except per square foot data. 21 Property Type Year Acquired/ Developed Square Feet In - Place Occupancy Leased Occupancy Cash ABR Cash ABR PSF Tampa, FL Sabal Pavilion Single Tenant Office 2020 120,500 100% 100% $2,199 $18.25 S
Slide 9: Leasing Summary
© CTO Realty Growth, Inc. | ctoreit.com Leasing Summary $ and square feet in thousands, except per square foot data. 22 Renewals and Extensions Q1 2022 Q2 2022 Q3 2022 Q4 2022 2022 Leases 8 8 Square Feet 32.5 32.5 New Cash Rent PSF $31.57 $31.57 Tenant Improvements $368 $368 Leasing Commissions $36
Slide 10: Lease Expiration Schedule
© CTO Realty Growth, Inc. | ctoreit.com Lease Expiration Schedule $ and square feet in thousands. 23 Year Leases Expiring Expiring SF % of Total Cash ABR % of Total 2022 26 70 2.5% 1,839 3.5% 2023 28 184 6.5% 4,105 7.9% 2024 19 65 2.3% 1,772 3.4% 2025 21 135 4.8% 3,349 6.4% 2026 43 417 14.7% 7,534 1
Slide 11: Top Tenant Summary
© CTO Realty Growth, Inc. | ctoreit.com Top Tenant Summary 24 Tenant/Concept Credit Rating (1) Leases Leased Square Feet % of Total Cash ABR % of Total Fidelity A+ 1 210 7.4% 3,567 6.8% Ford Motor Credit BB+ 1 121 4.2% 2,199 4.2% WeWork CCC+ 1 59 2.1% 1,939 3.7% General Dynamics A - 1 64 2.3% 1,580
Slide 12: Geographic Diversification
© CTO Realty Growth, Inc. | ctoreit.com Geographic Diversification 25 Markets Leases Square Feet % of Total Cash ABR % of Total Atlanta, GA 2 353 12.4% 8,028 15.4% Jacksonville, FL 4 356 12.6% 7,925 15.2% Dallas, TX 2 374 13.2% 7,119 13.6% Raleigh, NC 1 320 11.3% 5,222 10.0% Phoenix, AZ 1 245 8.6% 4
Slide 13: Other Assets
© CTO Realty Growth, Inc. | ctoreit.com Other Assets $ and shares outstanding in thousands, except per share data. (1) As of March 31, 2022. 26 Investment Securities Shares & Operating Partnership Units Owned Value Per Share March 31, 2022 Estimated Value Annualized Dividend Per Share In - Place Ann
Slide 14: 2022 Guidance
© CTO Realty Growth, Inc. | ctoreit.com 2022 Guidance $ and shares outstanding in millions, except per share data. (1) As of April 28, 2022. 27 Low High Acquisition & Structured Investments $200 - $250 Target Initial Investment Cash Yield 6.50% - 7.00% Dispositions $40 - $70 Target Disposition Cash
Slide 15: Contact Information & Research Coverage
© CTO Realty Growth, Inc. | ctoreit.com Contact Information & Research Coverage Contact Information Corporate Office Locations Investor Relations Transfer Agent New York Stock Exchange 369 N. New York Ave., 3 rd Floor Winter Park, FL 32789 1140 N. Williamson Blvd., Suite 140 Daytona Beach, FL 32114
Slide 16: Safe Harbor
© CTO Realty Growth, Inc. | ctoreit.com Safe Harbor 29 Certain statements contained in this presentation (other than statements of historical fact) are forward - looking statements within the meaning of Section 27 A of the Securities Act of 1933 , as amended and Section 21 E of the Securities Exchan
Slide 17: Non-GAAP Financial Measures
© CTO Realty Growth, Inc. | ctoreit.com Non - GAAP Financial Measures 30 Our reported results are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”) .. We also disclose Funds From Operations (“FFO”), Core Funds From Operations (“Core FFO”),
Slide 18: Non-GAAP Financial Measures
© CTO Realty Growth, Inc. | ctoreit.com Non - GAAP Financial Measures 31 To derive Same - Property NOI, GAAP net income or loss attributable to the Company is adjusted to exclude extraordinary items (as defined by GAAP), gain or loss on disposition of assets, gain or loss on extinguishment of debt,
Slide 19: Definitions & Terms
© CTO Realty Growth, Inc. | ctoreit.com Definitions & Terms 32 References and terms used in this presentation that are in addition to terms defined in the Non - GAAP Financial Measures include : ▪ This presentation has been published on April 28 , 2022 .. ▪ All information is as of March 31 , 2022 ,