CTO Realty Growth (CTO) Q2 2026 Earnings
Q2 2026 GAAP net income includes $8,905 thousand of realized and unrealized gain on investment securities (net of income tax), a $2,107 thousand gain on disposition of assets, and a $1,084 thousand provision for impairment and CECL reserve adjustment. Core FFO per diluted share was $0.53 and AFFO per diluted share was $0.55.
How Did CTO Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +5.47%.
Did CTO Beat Earnings? Q2 2026 Results
Yes. CTO Realty Growth reported Q2 2026 earnings of $0.38 a share on Jul 28, 2026, beating the $0.10 consensus estimate by 267.9%. Revenue was $43.8M against a $42.3M estimate.
CTO Realty Growth delivered a standout second quarter for 2026, posting GAAP diluted EPS of $0.38 against a consensus estimate of $0.10, a beat of 267.86%, while revenue of $43.83 million topped the $42.31 million estimate by 3.59% and climbed 16.4% from a year ago. The GAAP result includes $8.90 million of realized and unrealized gains on investment securities, primarily tied to its Alpine Income Property Trust stake, a $2.11 million gain on property dispositions, and a $1.08 million impairment and CECL reserve provision; the year-ago quarter, by contrast, carried a $20.40 million debt-extinguishment charge that produced a net loss. Beyond the one-time items, the operational story was equally compelling: the company deployed $152.60 million across acquisitions and preferred equity investments at a 10.2% weighted average yield while shopping center same-property NOI grew 10.1%. Analysts have broadly maintained buy ratings on the stock. Management raised its full-year Core FFO guidance to $2.09 to $2.13 per share and lifted its investment volume target to $300 million to $400 million, citing a robust pipeline and embedded NOI growth expected to extend earnings momentum into 2027.
- Shopping center same-property NOI increased 10.1% in Q2 2026 and 8.2% for the six months
- Comparable leases of 184,000 square feet signed at a 6% cash rent spread; 25 total leases covering 213,000 square feet
- Interest income from commercial loans and investments rose to $5.2 million from $3.0 million on new structured investments
- Leased occupancy of 95.4%, up 150 basis points year over year
- Gain on investment securities of $8.9 million and $2.1 million gain on dispositions boosted GAAP net income
- Absence of the prior-year $20.4 million loss on extinguishment of debt
“We delivered another strong quarter, deploying $153 million of capital at a weighted average initial yield of 10.2% and strong same-property NOI growth.”
CTO Realty Growth CEO, on the earnings call
What Was CTO Realty Growth's Outlook in Q2 2026?
CTO raised its 2026 outlook. Core FFO per diluted share is now $2.09 to $2.13 (previously $2.06 to $2.11), and AFFO per diluted share is now $2.21 to $2.25 (previously $2.19 to $2.24). Guidance assumptions: - Investment volume, including commercial loans and structured investments: $300 million to $400 million (previously $175 million to $250 million). - Shopping center same-property NOI growth: 5.0% to 6.0% (previously 3.5% to 4.5%). - G&A expenses: $20.0 million to $20.2 million (previously $19.7 million to $20.2 million). The company expects 2026 net income per diluted share of $0.87 to $0.92. Management cited a robust acquisition pipeline and embedded NOI growth, including a $6.3 million signed-not-open pipeline recognized primarily in 2027. It also cited outparcel developments targeting 10-12% yields with rent commencing mid-2027, and said it is positioned for continued earnings growth into 2027.
CTO YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $43.8M | $37.6M | +16.5% |
| Operating Income | $13.3M | $4.4M | +204.5% |
| Net Income | $15.1M | $5.7M | +164.5% |
CTO Revenue by Segment
CTO Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.