CTO Realty Growth, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 27, 2023 at 01:40 am IST
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CTO Realty Growth, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 25.18 million compared to USD 17.69 million a year ago. Revenue was USD 28.47 million compared to USD 23.12 million a year ago. Net income was USD 2.69 million compared to USD 4.82 million a year ago. Basic earnings per share from continuing operations was USD 0.07 compared to USD 0.2 a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to USD 0.19 a year ago.
For the nine months, sales was USD 70.37 million compared to USD 49.23 million a year ago. Revenue was USD 79.23 million compared to USD 59.79 million a year ago. Net loss was USD 1.51 million compared to net income of USD 6.24 million a year ago. Basic loss per share from continuing operations was USD 0.23 compared to basic earnings per share from continuing operations of USD 0.15 a year ago. Diluted loss per share from continuing operations was USD 0.23 compared to diluted earnings per share from continuing operations of USD 0.15 a year ago.
CTO Realty Growth, Inc. is a real estate investment trust that owns and operates a portfolio of retail-based properties located primarily in higher growth markets in the United States. The Company operates in four primary business segments: management services, commercial loans and investments, real estate operations, and income properties. The management services segment is a fee-based management business that is engaged in managing Alpine Income Property Trust, Inc. (PINE). The commercial loans and investments segment includes a portfolio of three commercial loan investments and one preferred equity investment, which is classified as a commercial loan investment. The real estate operations segment includes a portfolio of subsurface mineral interests associated with approximately 352,000 surface acres in 19 counties in the State of Florida and an inventory of mitigation credits. The Companyâs business also includes its investment in PINE.