CTO Realty Growth reports Q1 AFFO 49c, consensus 48c

Reports Q1 revenue $35.81M, consensus $34.91M. “We continued to execute our strategy and produced strong results across our platform to start the year,” stated John Albright, president and CEO of CTO Realty Growth (CTO). “We acquired Ashley Park, a 559,000-square-foot, lifestyle center located in the Newnan submarket of Atlanta, Georgia for a purchase price of $79.8 million at a going in yield that was at the high end of our guidance. Additionally, our operating fundamentals remain strong as evidenced by our leasing spreads and pipeline.”