Cto Realty Growth, Inc. · NYSE:CTO

Cto Realty Growth — Investor Presentation (February 2022)

39 slides from Cto Realty Growth's investor presentation, Feb 25, 2022

  1. Slide 1: Investor Presentation

    Investor Presentation REALTY GROWTH

  2. Slide 2: Company Profile

    © CTO Realty Growth, Inc. | ctoreit.com Company Profile 2 (1) As of February 21, 2022. (2) Based on $58.50 per share common stock price as of February 23, 2022.  $41M INVESTMENT IN ALPINE INCOME PROPERTY TRUST $4.90 – $5.15 AFFO PER SHARE GUIDANCE RANGE 22 2.7M 7.6% PROPERTIES SQUARE FEET IMPLIED C

  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 AFFO multiple of its primarily retail peer group. Earnings Growth Through Capital Recycling Strong, long - term track record of m

  4. Slide 4: NAV Components

    © CTO Realty Growth, Inc. | ctoreit.com NAV Components 4 Net Operating Income of Income Property Portfolio (1) $44.1 $44.1 $44.1 $44.1 $44.1 ÷ Capitalization Rate 6.00% 6.25% 6.50% 6.75% 7.00% Income Portfolio Value $735.0 $705.6 $678.5 $653.3 $630.0 Other Assets: + Estimated Value for Subsurface In

  5. Slide 5: Differentiated Investment Strategy

    © CTO Realty Growth, Inc. | ctoreit.com Differentiated Investment Strategy 5 CTO has a retail - oriented real estate strategy that focuses on owning, operating and investing in high - quality properties through direct investment and management structures Multi - Tenant Asset Strategy ▪ Focused on re

  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 replacem

  7. Slide 7: Meaningful Progress with Portfolio Repositioning

    © CTO Realty Growth, Inc. | ctoreit.com Meaningful Progress with Portfolio Repositioning 7 $365 $489 $305 0.0 50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0 450.0 500.0 0.0% 10000.0% 20000.0% 30000.0% 40000.0% 50000.0% 2020 2021 2022 Guidance Monetization of Non-Core Legacy Assets Dispositions Inves

  8. Slide 8: Durable Portfolio with Growth Opportunities

    © CTO Realty Growth, Inc. | ctoreit.com Durable Portfolio with Growth Opportunities Recently constructed retail and mixed - use portfolio with a combination of value - add lease up, redevelopment and stable, in - place cash flows in some of the strongest markets in the United States. 8 Stable Cash F

  9. Slide 9: Strong Demographic Portfolio

    © CTO Realty Growth, Inc. | ctoreit.com Strong Demographic Portfolio 9 Percentages listed based on in - place cash rent.. (1) Source: Esri; Portfolio average weighted by the Annualized Base Rent of each property. (2) As ranked by Urban Land Institute & PWC in the ‘2022 Emerging Trends in Real Estate

  10. Slide 10: Meaningful Leasing Momentum

    © CTO Realty Growth, Inc. | ctoreit.com Meaningful Leasing Momentum 10 5% 9% 4% 7% 14% 7% 19% 9% 4% 5% 2% 17% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 13.0% 14.0% 15.0% 16.0% 17.0% 18.0% 19.0% 20.0% Lease Rollover Schedule % of ABR Expiring New Leases Signed in 2021 ▪ Q4 2

  11. Slide 11: Repositioning – Ashford Lane, Atlanta, GA

    © CTO Realty Growth, Inc. | ctoreit.com Repositioning – Ashford Lane, Atlanta, GA 11 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,

  12. Slide 12: Repositioning – Ashford Lane, Atlanta, GA

    © CTO Realty Growth, Inc. | ctoreit.com Repositioning – Ashford Lane, Atlanta, GA 12 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 (Not Owned) (Not Owned) (Not Owned)

  13. Slide 13: Repositioning – Ashford Lane, Atlanta, GA

    © CTO Realty Growth, Inc. | ctoreit.com Repositioning – Ashford Lane, Atlanta, GA 13 Ashford Lane is being repositioned as a higher - end shopping and dining destination within a growing and relatively affluent submarket of Atlanta ▪ Opportunity to deliver increased rental rates with higher - end te

  14. Slide 14: Repositioning – Lincoln & Washington, Santa Fe, NM

    © CTO Realty Growth, Inc. | ctoreit.com Repositioning – 125 Lincoln & 150 Washington, Santa Fe, NM 14 Two - building property with dedicated underground parking in the heart of Santa Fe, just north of the historic Santa Fe Plaza ▪ High barrier - to - entry location with 34% vacancy at the time of ac

  15. Slide 15: CTO Peer Comparisons

    © CTO Realty Growth, Inc. | ctoreit.com 11.8x 7.3% 2.50% 3.50% 4.50% 5.50% 6.50% 7.50% 10.0x 11.0x 12.0x 13.0x 14.0x 15.0x 16.0x 17.0x 18.0x 19.0x 20.0x 21.0x 22.0x 23.0x 24.0x 25.0x 26.0x 27.0x CTO Peer Comparisons 26.0x 25.2x 20.6x 20.1x 19.7x 18.4x 16.9x 15.7x 15.7x 15.0x 3.5% 3.6% 3.5% 3.4% 3.2%

  16. Slide 16: Balance Sheet

    © CTO Realty Growth, Inc. | ctoreit.com Balance Sheet 16 $51 $65 $100 $67 2022 2023 2024 2025 2026 2027 Unsecured Revolving Credit Facility Components of Long - Term Debt Principal Interest Rate Type Revolving Credit Facility 67.0 million 30 - Day LIBOR + [1.35% – 1.95%] Floating 2025 Convertible Se

  17. Slide 17: 2022 Guidance

    © CTO Realty Growth, Inc. | ctoreit.com 2022 Guidance 17 $ and shares outstanding in millions, except per share data. Low High Acquisition & Structured Investments $200 - $250 Target Initial Investment Cash Yield 6.25% - 6.75% Dispositions $40 - $70 Target Disposition Cash Yield 6.50% - 7.50% Core F

  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 C

  19. Slide 19: ESG – Corporate Responsibility

    © CTO Realty Growth, Inc. | ctoreit.com ESG – 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

  20. Slide 20: ESG – Environmental Responsibility

    © CTO Realty Growth, Inc. | ctoreit.com ESG – Environmental Responsibility 20 Over the past nine years, CTO has planted approximately 170,000 pine trees in Florida and has restored over 700 acres of former industrial timberland. These 170,000 trees absorb more than 1,000 tons of carbon each year. En

  21. Slide 21: Appendix

    NYSE: CTO Appendix The Shops at Legacy Plano, TX

  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 Cash ABR The Shops at Legacy – Plano, TX Dallas, TX Multi - Tenant Mixed Use 236,867 85% 14% Ashford Lane – Atlanta, GA Atlanta, GA Multi - Tenant Retail 285,052 71%

  23. Slide 23: Schedule of Properties

    © CTO Realty Growth, Inc. | ctoreit.com Schedule of Properties 23 Property Market Asset Type Property Type Square Feet Occupancy % of ABR Westland Gateway Plaza – Hialeah, FL Miami, FL Multi - Tenant Retail 108,029 100% 3% General Dynamics – Reston, VA Washington, DC Single Tenant Office 64,319 100%

  24. Slide 24: The Shops at Legacy, Plano, TX

    © CTO Realty Growth, Inc. | ctoreit.com The Shops at Legacy, Plano, TX 24

  25. Slide 25: Ashford Lane, Atlanta, GA

    © CTO Realty Growth, Inc. | ctoreit.com Ashford Lane, Atlanta, GA 25

  26. Slide 26: Beaver Creek Crossings, Apex, NC

    © CTO Realty Growth, Inc. | ctoreit.com Beaver Creek Crossings, Apex, NC 26

  27. Slide 27: Crossroads Town Center, Chandler, AZ

    © CTO Realty Growth, Inc. | ctoreit.com Crossroads Town Center, Chandler, AZ 27

  28. Slide 28: The Strand, Jacksonville, FL

    © CTO Realty Growth, Inc. | ctoreit.com The Strand, Jacksonville, FL 28

  29. Slide 29: Lincoln & Washington, Santa Fe, NM

    © CTO Realty Growth, Inc. | ctoreit.com 125 Lincoln & 150 Washington, Santa Fe, NM 29

  30. Slide 30: The Carpenter Hotel, Austin, TX (Ground Lease)

    © CTO Realty Growth, Inc. | ctoreit.com The Carpenter Hotel, Austin, TX (Ground Lease) 30

  31. Slide 31: The Exchange at Gwinnett, Buford, GA

    © CTO Realty Growth, Inc. | ctoreit.com The Exchange at Gwinnett, Buford, GA 31

  32. Slide 32: Jordan Landing, West Jordan, UT

    © CTO Realty Growth, Inc. | ctoreit.com Jordan Landing, West Jordan, UT 32

  33. Slide 33: Eastern Commons, Henderson, NV

    © CTO Realty Growth, Inc. | ctoreit.com Eastern Commons, Henderson, NV 33

  34. Slide 34: Forward Looking Statements & Non-GAAP Financial Measures

    © CTO Realty Growth, Inc. | ctoreit.com Forward Looking Statements & Non - GAAP Financial Measures 34 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 am

  35. Slide 35: References & Contacts

    © CTO Realty Growth, Inc. | ctoreit.com References & Contacts 35 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 , unle

  36. Slide 36: Non-GAAP Financial Measures Reconciliation

    © CTO Realty Growth, Inc. | ctoreit.com Non - GAAP Financial Measures Reconciliation 36 Three Months Ended Year Ended December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Revenues Income Properties $ 13,922 $ 14,544 $ 50,679 $ 49,953 Management Fee Income 944 664 3,305 2,744 Inter

  37. Slide 37: Non-GAAP Financial Measures Reconciliation

    © CTO Realty Growth, Inc. | ctoreit.com Non - GAAP Financial Measures Reconciliation 37 Three Months Ended Year Ended December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2021 Net Income Attributable to the Company $ 1,932 $ 79,682 $ 29,940 $ 78,509 Depreciation and Amortization 5,153

  38. Slide 38: Non-GAAP Financial Measures Reconciliation

    © CTO Realty Growth, Inc. | ctoreit.com Non - GAAP Financial Measures Reconciliation 38 CTO Realty Growth, Inc. Non - GAAP Financial Measures Reconciliation of Net Debt to Pro Forma EBITDA (Unaudited, in thousands) Three Months Ended December 31, 2021 Net Income Attributable to the Company $ 1,932 D

  39. Slide 39: Realty Growth

    REALTY GROWTH Crabby’s Oceanside & Landshark Bar and Grill Daytona Beach, FL

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