Cto Realty Growth, Inc. · NYSE:CTO

Cto Realty Growth — Investor Presentation (October 2021)

36 slides from Cto Realty Growth's investor presentation, Oct 28, 2021

  1. Slide 1: Investor Presentation October 2021

    Investor Presentation October 2021 REALTY GROWTH NYSE: CTO

  2. Slide 2: Company Profile

    © CTO Realty Growth, Inc. | ctoreit.com Company Profile 2 As of September 30, 2021, or as otherwise noted; any differences a result of rounding. (1) Based on monthly Contractual Base Rent (“CBR”), which represents the amount owed to the Company under the terms of its lease agreements in each respect

  3. Slide 3: Key Takeaways

    © CTO Realty Growth, Inc. | ctoreit.com Key Takeaways 3 Significant Discount to the Peer Group Meaningful potential upside in valuation as CTO has one of the lowest 2022E FFO multiple of its retail and diversified peer group. Earnings Growth Through Capital Recycling Strong, long-term track record o

  4. Slide 4: Year-to-Date 2021 Highlights

    © CTO Realty Growth, Inc. | ctoreit.com Year-to-Date 2021 Highlights 4 Accretive Investment Activity ▪ Under contract to sell the remaining land in the Daytona Beach Land Joint Venture for $66.2 million; total net proceeds to CTO expected to be $25.6 million before taxes ▪ Acquired 3 properties for

  5. Slide 5: Diversified Investment Strategy

    © CTO Realty Growth, Inc. | ctoreit.com Diversified Investment Strategy 5 CTO is a diversified real estate investment strategy focused on owning, operating and investing in retail-based real estate, directly and through investment management structures Multi-Tenant Asset Strategy ▪ Focused on retail

  6. Slide 6: Real Estate Strategy

    © CTO Realty Growth, Inc. | ctoreit.com Real Estate Strategy CTO’s investment strategy is focused on generating relative outsized returns for our shareholders through a combination of accretive acquisitions and dispositions, asset-level value creation, acquiring at meaningful discounts to replacemen

  7. Slide 7: Portfolio At A Glance

    © CTO Realty Growth, Inc. | ctoreit.com 56% 25% 17% 2% Retail Office Mixed Use Hotel Portfolio At A Glance 7 33% 67% Single-Tenant Multi-Tenant As of September 30, 2021. Percentages listed based on in-place cash rent as of September 30, 2021. (1) Source: Sites USA; Portfolio average weighted by the

  8. Slide 8: Repositioning – Ashford Lane, Atlanta, GA

    © CTO Realty Growth, Inc. | ctoreit.com Repositioning – Ashford Lane, Atlanta, GA 8 Acquired as Perimeter Place in 2020, with an opportunity to up-tier through targeted lease-up, an improved tenant mix and market repositioning ▪ High barrier-to-entry location with new residential projects, increasin

  9. Slide 9: Ashford Lane, Atlanta, GA (Repositioning)

    © CTO Realty Growth, Inc. | ctoreit.com Ashford Lane, Atlanta, GA (Repositioning) 9 Ashford Lane will incorporate outdoor seating and eating areas, along with a number of new green spaces, including The Lawn, that will drive a more community-focused experience Ashford Lane is being repositioned as a

  10. Slide 10: Crabby’s Oceanside Expansion, Daytona Beach, FL

    © CTO Realty Growth, Inc. | ctoreit.com Crabby’s Oceanside Expansion, Daytona Beach, FL 10 ▪ Organic growth opportunity to expand existing footprint to create a “Tiki Bar” that better engages with the beach ▪ CTO to receive up to a double-digit yield on cost through base rent, with upside through pe

  11. Slide 11: Land Joint Venture

    © CTO Realty Growth, Inc. | ctoreit.com Land Joint Venture 11 Land Joint Venture Summary of Terms ▪ Contract value of remaining land held in the joint venture is $66.2 million ▪ CTO receives 90% of all proceeds once the JV Partner capital account is $0 and the preferred return is achieved ▪ Expected

  12. Slide 12: Assets & Capital Structure Components

    © CTO Realty Growth, Inc. | ctoreit.com Assets & Capital Structure Components 12 Net Operating Income of Income Property Portfolio(1) $37.0 $37.0 $37.0 $37.0 $37.0 ÷ Capitalization Rate 6.50% 6.75% 7.00% 7.25% 7.50% Income Portfolio Value $569.2 $548.1 $528.6 $510.3 $493.3 Other Assets: + Estimated

  13. Slide 13: Property Net Operating Income Growth Opportunity

    © CTO Realty Growth, Inc. | ctoreit.com Property Net Operating Income Growth Opportunity 13 As of September 30, 2021, or as otherwise noted; any differences a result of rounding. Note: 5,960,912 shares outstanding as of September 30, 2021. (1) Based on in-place net operating income as of September 3

  14. Slide 14: Relative Performance to the Peer Group

    © CTO Realty Growth, Inc. | ctoreit.com 25.7% 8.2% 2.9% 1.5% (1.1%) (7.3%) (10.0%) (13.8%) (20.9%) -26.0% Relative Performance to the Peer Group 14 (1) Total Return information includes dividends reinvested in the respective security and is from Bloomberg for the period of January 1, 2020 through Se

  15. Slide 15: Peer Comparisons

    © CTO Realty Growth, Inc. | ctoreit.com Peer Comparisons 15 21.4x 16.9x 15.3x 15.1x 14.5x 14.1x 12.6x 12.4x 12.2x 3.6% 3.2% 3.3% 5.8% 3.3% 5.0% 4.8% 7.4% 3.8% 2.50% 3.50% 4.50% 5.50% 6.50% 7.50% 8.50% 11.0x 12.0x 13.0x 14.0x 15.0x 16.0x 17.0x 18.0x 19.0x 20.0x 21.0x 22.0x (1) All 2022E FFO multiples

  16. Slide 16: Balance Sheet

    © CTO Realty Growth, Inc. | ctoreit.com Balance Sheet 16 $100.0 $100.0 $61.7 $65.0 $0.0 $0.0 $0.0 $101.0 $101.0 2021 2022 2023 2024 2025 2026 2027 2028 2029 230 Fixed Floating Total Commitments Component of Long-Term Debt Principal Interest Rate Maturity Date Revolving Credit Facility (Fixed)(2) $10

  17. Slide 17: 2021 Guidance

    © CTO Realty Growth, Inc. | ctoreit.com 2021 Guidance 17 $ and shares outstanding in millions, except per share data. Full-Year 2021 Guidance was provided in the Company’s Third Quarter 2021 Operating Results press release filed on October 28, 2021. Full- Year 2021 Variance to Prior Guidance Low Hig

  18. Slide 18: Experienced Management Team

    © CTO Realty Growth, Inc. | ctoreit.com Experienced Management Team CTO Realty Growth is led by an experienced management team with meaningful shareholder alignment, deep industry relationships and a strong long-term track record. 18 John P. Albright President & Chief Executive Officer ▪ Former Co-H

  19. Slide 19: Corporate Responsibility

    © CTO Realty Growth, Inc. | ctoreit.com Corporate Responsibility CTO Realty Growth is committed to sustainability, strong corporate governance, and meaningful corporate social responsibility programs. 19 Social Responsibility Inclusive and Supportive Company Culture ▪ Dedicated to an inclusive and s

  20. Slide 20: Appendix

    REALTY GROWTH NYSE: CTO Appendix

  21. Slide 21: Schedule of Properties

    © CTO Realty Growth, Inc. | ctoreit.com Schedule of Properties 21 Property Market Asset Type Property Type Square Feet Occupancy % of ABR The Shops at Legacy – Plano, TX Dallas, TX Multi-Tenant Mixed Use 236,867 85% 16% Ashford Lane – Atlanta, GA Atlanta, GA Multi-Tenant Retail 269,682 76% 14% The S

  22. Slide 22: Schedule of Properties

    © CTO Realty Growth, Inc. | ctoreit.com Schedule of Properties 22 Property Market Asset Type Property Type Square Feet Occupancy % of ABR General Dynamics – Reston, VA Washington, DC Single Tenant Office 64,319 100% 4% 24 Hour Fitness – Falls Church, VA Washington, DC Single Tenant Retail 46,000 100

  23. Slide 23: The Shops at Legacy, Plano, TX

    © CTO Realty Growth, Inc. | ctoreit.com The Shops at Legacy, Plano, TX 23

  24. Slide 24: Ashford Lane, Atlanta, GA

    © CTO Realty Growth, Inc. | ctoreit.com Ashford Lane, Atlanta, GA 24

  25. Slide 25: Crossroads Town Center, Chandler, AZ

    © CTO Realty Growth, Inc. | ctoreit.com Crossroads Town Center, Chandler, AZ 25

  26. Slide 26: The Strand, Jacksonville, FL

    © CTO Realty Growth, Inc. | ctoreit.com The Strand, Jacksonville, FL 26

  27. Slide 27: Fidelity Office Complex, Albuquerque, NM

    © CTO Realty Growth, Inc. | ctoreit.com Fidelity Office Complex, Albuquerque, NM 27

  28. Slide 28: Riverside Office Building, Jacksonville, FL

    © CTO Realty Growth, Inc. | ctoreit.com 245 Riverside Office Building, Jacksonville, FL 28

  29. Slide 29: The Carpenter Hotel, Austin, TX (Ground Lease)

    © CTO Realty Growth, Inc. | ctoreit.com The Carpenter Hotel, Austin, TX (Ground Lease) 29

  30. Slide 30: Sabal Pavilion (Ford Motor Credit), Tampa, FL

    © CTO Realty Growth, Inc. | ctoreit.com Sabal Pavilion (Ford Motor Credit), Tampa, FL 30

  31. Slide 31: Jordan Landing, West Jordan, UT

    © CTO Realty Growth, Inc. | ctoreit.com Jordan Landing, West Jordan, UT 31

  32. Slide 32: Eastern Commons, Henderson, NV

    © CTO Realty Growth, Inc. | ctoreit.com Eastern Commons, Henderson, NV 32

  33. Slide 33: Forward Looking Statements

    © CTO Realty Growth, Inc. | ctoreit.com Forward Looking Statements 33 Certain statements contained in this presentation (other than statements of historical fact) are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securit

  34. Slide 34: Non-GAAP Financial Measures Reconciliation

    © CTO Realty Growth, Inc. | ctoreit.com Non-GAAP Financial Measures Reconciliation 34 Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Revenues Income Properties $ 13,734 $ 12,933 $ 36,757 $ 35,409 Management Fee Income 940 683 2,361 2,

  35. Slide 35: Non-GAAP Financial Measures Reconciliation

    © CTO Realty Growth, Inc. | ctoreit.com Non-GAAP Financial Measures Reconciliation 35 Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Net Income (Loss) Attributable to the Company $ 23,947 $ (1,522) $ 28,008 $ (1,173) Depreciation and

  36. Slide 36: Crabby’s Oceanside & Landshark Bar & Grill, Daytona Beach, FL

    REALTY GROWTH NYSE: CTO CRABBY’S OCEANSIDE & LANDSHARK BAR & GRILL, DAYTONA BEACH, FL

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