CTO REALTY GROWTH NEW DL1

CTO Realty Growth acquires the mixed-use center Zona Rosa in Kansas City for $63.3 million ($82/ft²). The 768,000 ft² complex is 67% leased; tenants include Dick’s Sporting Goods, Barnes & Noble, Old Navy, Burlington and DSW. The 64-acre site offers 10 acres of shovel-ready development land and about 100,000 ft² of underutilized space, and draws roughly 5.5 million visitors annually. CEO John P. Albright said the year-to-date acquisition volume exceeds $200 million with a blended initial net purchase yield of 8.2% (including $334 million of structured investments and a 9.5% cash yield). » Więcej na de.investing.com

CTO Realty Growth has entered equity distribution agreements with Cantor Fitzgerald & Co. and Huntington Securities, both of which will serve as additional distribution partners for the ongoing at‑the‑market programs for cumulative, redeemable 6.375% Series A preferred stock (up to $25 million) and for common stock (up to $250 million). Existing agreements with multiple banks were amended to integrate Cantor and Huntington as additional distribution partners, forward sellers and forward buyers. The company also reported Q1 results that beat expectations (EPS $0.13 vs. $0.01; revenue $41.17 million vs. $38.89 million) and, according to data, has a dividend yield of 7.72% with 51 years of consecutive dividend payments. » Więcej na de.investing.com

CTO Realty Growth acquires the open‑air shopping center Palms Crossing in McAllen, Texas, for $81.6 million. The 399,000‑square‑foot property is 98% leased and houses tenants such as Best Buy, Hobby Lobby, Burlington, Barnes & Noble and Nike. The acquisition makes Texas the third‑largest state for CTO by annualized base cash rent; 85% of base cash rent now comes from Georgia, Florida, Texas and North Carolina. CTO plans to initially finance the purchase with cash and its revolving credit facility and expects to sell the asset in mid‑2026 for subsequent refinancing. » Więcej na de.investing.com