CTO Realty: Q4 Earnings Snapshot
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Audio By Carbonatix
3:41 PM on Thursday, February 20
The Associated Press
WINTER PARK, Fla. (AP) — WINTER PARK, Fla. (AP) — CTO Realty Growth, Inc. (CTO) on Thursday reported a key measure of profitability in its fourth quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Winter Park, Florida, said it had funds from operations of $14.9 million, or 49 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 48 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $17.1 million, or 56 cents per share.
The real estate company, based in Winter Park, Florida, posted revenue of $35.7 million in the period.
For the year, the company reported funds from operations of $50.8 million. Revenue was reported as $124.5 million.
CTO Realty expects full-year funds from operations in the range of $1.93 to $1.98 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CTO at https://www.zacks.com/ap/CTO
