Cto Realty Growth, Inc. · NYSE:CTO
Cto Realty Growth — Q4 2021 Earnings Presentation
18 slides from Cto Realty Growth's earnings presentation, Feb 25, 2022
Slide 1: Q4 2021 Supplemental Reporting Information
© CTO Realty Growth, Inc. | ctoreit.com Q4 2021 REALTY GROWTH Supplemental Reporting Information
Slide 2: Table of Contents
© CTO Realty Growth, Inc. | ctoreit.com 1. Fourth Quarter and Year - End 2021 Earnings Release 3 2. Key Financial Information ▪ Consolidated Balance Sheets 13 ▪ Consolidated Statements of Operations 14 ▪ Non - GAAP Financial Measures 15 3. Capitalization & Dividends 17 4. Summary of Debt 18 5. Acqui
Slide 3: Capitalization & Dividends
© CTO Realty Growth, Inc. | ctoreit.com Capitalization & Dividends $ and shares outstanding in thousands, except per share data. As of December 31, 2021, unless otherwise noted Equity Capitalization Common Shares Outstanding 5,916 Common Share Price $61.42 Total Common Equity Market Capitalization $
Slide 4: Debt Summary
© CTO Realty Growth, Inc. | ctoreit.com Debt Summary $ and shares outstanding in thousands, except per share data. As of December 31, 2021, unless otherwise noted. (1) See reconciliation as part of Non - GAAP Financial Measures in the Q4 and Full Year 2021 Earnings Release. Indebtedness Outstanding
Slide 5: Acquisitions
© CTO Realty Growth, Inc. | ctoreit.com Acquisitions $ and shares outstanding in thousands, except per share data. (1) As of December 31, 2021. Property Market Type Date Acquired Square Feet Price Occupancy At Acq .. Jordan Landing – West Jordan, UT Salt Lake City, UT Multi - Tenant Retail 3/2/2021
Slide 6: Dispositions
© CTO Realty Growth, Inc. | ctoreit.com Property Market Type Date Sold Square Feet Price Gain World of Beer & Fuzzy’s Taco Shop – Brandon, FL Tampa, FL Multi - Tenant Retail 1/20/2021 6,715 $2,310 $599 Moe’s Southwest Grill – Jacksonville, FL Jacksonville, FL Single Tenant Retail 2/23/2021 3,111 2,5
Slide 7: Portfolio Detail
© CTO Realty Growth, Inc. | ctoreit.com Portfolio Detail 21 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 285,052 71% 81% $5,793 $20.32 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. 22 Property Type Year Acquired/ Developed Square Feet In - Place Occupancy Leased Occupancy Cash ABR Cash ABR PSF Salt Lake City, UT Jordan Landing Multi - Tenant Retail 2021 170,996 100% 100% $1,67
Slide 9: Leasing Summary
© CTO Realty Growth, Inc. | ctoreit.com Leasing Summary $ and square feet in thousands, except per square foot data. 23 Renewals and Extensions Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 Leases 11 3 5 3 22 Square Feet 130.0 164.0 27.1 10.0 331.1 New Cash Rent PSF $12.19 $8.98 $21.28 $38.05 $12.13 Tenant I
Slide 10: Lease Expiration Schedule
© CTO Realty Growth, Inc. | ctoreit.com Lease Expiration Schedule $ and square feet in thousands. 24 Year Leases Expiring Expiring SF % of Total Cash ABR % of Total 2022 31 95 3.5% 2,486 5.0% 2023 27 188 6.9% 4,270 8.6% 2024 18 64 2.4% 1,764 3.6% 2025 20 118 4.3% 3,334 6.7% 2026 38 371 13.6% 6,694 1
Slide 11: Top Tenant Summary
© CTO Realty Growth, Inc. | ctoreit.com Top Tenant Summary 25 Tenant/Concept Credit Rating (1) Leases Square Feet % of Total Cash ABR % of Total Fidelity A+ 1 210 7.7% 3,567 7.2% Ford Motor Credit BB+ 1 121 4.4% 2,199 4.4% WeWork CCC+ 1 59 2.2% 2,176 4.4% General Dynamics A - 1 64 2.4% 1,580 3.2% At
Slide 12: Geographic Diversification
© CTO Realty Growth, Inc. | ctoreit.com Geographic Diversification 26 Markets Leases Square Feet % of Total Cash ABR % of Total Atlanta, GA 2 354 13.0% 7,757 15.7% Jacksonville, FL 4 356 13.1% 7,764 15.7% Dallas, TX 2 373 13.7% 7,219 14.6% Raleigh, NC 1 321 11.8% 5,154 10.4% Phoenix, AZ 1 245 9.0% 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 December 31, 2021. 27 Investment Securities Shares & Operating Partnership Units Owned Value Per Share December 31, 2021 Estimated Value Annualized Dividend Per Share In - Pla
Slide 14: 2022 Guidance
© CTO Realty Growth, Inc. | ctoreit.com 2022 Guidance $ and shares outstanding in millions, except per share data. (1) As of February 24, 2022. 28 Low High Acquisition & Structured Investments $200 - $250 Target Initial Investment Cash Yield 6.25% - 6.75% Dispositions $40 - $70 Target Disposition Ca
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 30 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 31 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: 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 is as of February 24 , 2022 .. ▪ All information is as of December 31 , 2021 , unless