CTO Realty Growth (CTO) investor relations material

Executive summary

• Q1 2026 featured strong leasing activity, with 146,000 sq ft of comparable leases at a 14% cash rent increase and 6.8% same-property NOI growth for shopping centers, or 4.2% excluding non-recurring items.

• Acquired Palms Crossing, a 399,000 sq ft center in Texas for $81.6M–$81.8M, now 98% leased, with future development potential.

• Portfolio is 95.4% leased at quarter end, focused on high-growth Southeast and Southwest MSAs, with 85% of ABR from Georgia, Florida, Texas, and North Carolina.

• Raised 2026 Core FFO and AFFO guidance, implying ~12% growth at midpoints, and increased investment guidance to $175M–$250M.

• Owns and manages 22 commercial real estate properties totaling 5.9 million sq ft as of March 31, 2026.

Financial highlights

• Q1 2026 total revenues were $41.2M, up from $35.8M in Q1 2025.

• Net income attributable to common stockholders was $6.2M ($0.13/share), up from $2.3M ($0.01–$0.13/share) YoY.

• Core FFO for Q1 2026 was $16.9M ($0.52/share), up from $14.4M ($0.46/share) YoY; AFFO was $18.2M ($0.56/share), up from $15.5M ($0.49/share).

• Shopping center same-property NOI rose 6.8% YoY; excluding non-recurring items, up 4.2%.

• Cash flows from operating activities increased to $14.6M from $10.3M YoY.

Outlook and guidance

• 2026 Core FFO per diluted share guidance is $2.06–$2.11, AFFO per diluted share $2.19–$2.24, both up ~12% at midpoints.

• Guidance assumes $175M–$250M in new investments, 3.5%–4.5% same-property NOI growth, and $19.7M–$20.2M G&A expenses.

• Signed-not-open pipeline expected to benefit earnings in late 2026 and fully in 2027.

• Future acquisitions expected to be funded by cash on hand, operations, property dispositions, credit facility, and other financing.

• Only 2026 loan maturity is a $17.8M mortgage note due in August at 4.06%.