CTO Realty Growth Inc (CTO)
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CTO Realty Growth rents out shopping centers across the American Sunbelt and pays a dividend yield of about 7 percent (data as of July 8, 2026). In June 2025 a short report called that payout unaffordable — the next day the CEO, CFO, general counsel and a board member bought shares, and twelve months later the stock sits near an all-time high while Reddit is only starting to notice, at 7 mentions in 24 hours (ApeWisdom, as of July 17, 2026). We read the annual reports (10-K) for 2024 and 2025, the quarterly report (10-Q) as of March 31, 2026, and the insider filings (Form 4): growing rents, a dividend frozen for three years, 45 percent more shares since the end of 2022, and a loan book charging double-digit interest. Not investment advice — just the question of who is right: the wolf at the door or the insiders at the register.
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This stock currently matches 16 of our scanner strategies — each hit links to the scanner.
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Basics
Performance
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
AI Rating
NeutralGeprüft am 17.07.2026 gegen den Geschäftsbericht (10-K) für das Geschäftsjahr 2025 (eingereicht 19.02.2026), den 10-K 2024 (20.02.2025) und die vier jüngsten Quartalsberichte (10-Q): In den ausgewerteten SEC-Filings des Shopping-Center-REITs CTO Realty Growth findet sich kein wesentlicher KI-Bezug. Die vier 10-Q enthalten null Treffer zu „artificial intelligence“; der 10-K 2025 enthält ausschließlich generische Risk-Factor-Floskeln (Item 1A) — etwa dass neue Technologien „including artificial intelligence“ den Wettbewerb für die eigenen Einzelhandels-Mieter erhöhen könnten und dass KI-Nutzung allgemein Wettbewerbs-, Rechts- und Cyber-Risiken schaffen kann („The use of AI by us and others … may exacerbate or create new and unpredictable competitive, operational, legal and regulatory risks to our business“). Weder eine KI-Umsatzquelle noch dokumentierter operativer KI-Einsatz noch ein konkretes, aufs eigene Geschäftsmodell bezogenes KI-Risiko — nach dem Kriterienkatalog bleibt es bei „neutral“ (Boilerplate-Risk-Floskeln sind kein Bedroht-Beleg).
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-Q 2026-04-28 · 10-Q 2025-10-28 · 10-Q 2025-07-29 · 10-Q 2025-05-01 · 10-K 2026-02-19 · 10-K 2025-02-20
Rated on July 17, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -0.50 | -282.20 | 36 | 19.60 | -42.60 | 24 | 24 |
| 2025: Q1 | 0.07 | -68.10 | 36 | 27.30 | 6.30 | 10 | 10 |
| 2025: Q2 | -0.72 | -1,478.30 | 38 | 30.50 | -62.20 | 22 | 22 |
| 2025: Q3 | 0.09 | -62.00 | 38 | 18.70 | 8.00 | 26 | 26 |
| 2025: Q4 | 0.88 | – | 38 | 7.30 | 73.90 | 7 | 7 |
| 2026: Q1 | 0.19 | 166.60 | 41 | 15.00 | 15.10 | 15 | 15 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Assessment: Opportunities & Risks
Revenue up 113 percent in four years to $149.5 million (2025), Q1 2026 up 15 percent; economic occupancy of the shopping centers improved from 89 to 92 percent, 96 percent including signed leases; 85 percent of the space in growth states, no tenant above 10 percent of revenue (10-K 2025).
A $1.52 dividend is 77 percent of the in-house AFFO ($1.97) — but the definition does not deduct recurring capital expenditures (10-K 2025, Item 7), and 2025 operating cash flow ($64.6 million) left only about $8 million after $56.6 million of total dividends, with $23.1 million of capital improvements already committed. Covered, yes — but only through the mildest lens, and without a raise for three years.
Plus 45 percent more shares since the end of 2022 (22.9 to 33.3 million as of 03/31/2026), the $250 million ATM program is an official liquidity source per the 10-K, and Q1 2026 added another 733,883 new shares; $8.3 million of cash against $14.4 million of quarterly dividends and $616 million of long-term debt — AFFO and dividend per share stagnate accordingly.
External management of PINE by the same executives, with the conflict risk documented in CTO's own filing ("decisions that are not in the best interest of our stockholders", 10-K 2025, Item 1A), plus the triangle of portfolio management and PINE mortgage (Note 5) and a growing high-yield loan book with a $75 million lump at 12 percent (10-Q Q1 2026, Note 23) — a structure that invites accusations, as the short report of 06/25/2025 demonstrated.
Stage-2 uptrend, price near an all-time high, 12 scanner hits, Piotroski 7 of 9, fundamental grade B (data as of July 8, 2026); 9 insider purchases against zero sales in twelve months — the CEO, CFO and general counsel bought the day after the short report (Form 4, 06/26/2025), about 24 percent below the July 2026 price level; no pending proceedings per the 10-K (February 2026).
CTO is a growing Sunbelt landlord with a price tag of a 7.2 percent dividend yield — and the price tag is honest: it pays the investor for carrying a mild AFFO definition, cash coverage that is almost fully used up, ongoing dilution through the ATM program, a governance double mandate around PINE, and a high-yield loan book. The June 2025 short report pointed at real structures but has so far triggered neither a lawsuit nor an impairment — the insiders answered with purchases, the market with an all-time high. Whoever invests here should do it for the business, not for the 7 before the decimal point. Not investment advice.
- CTO reached the research list via the Reddit hype scanner (ApeWisdom, 7 mentions in 24 hours, as of July 17, 2026) — the 12 hits in our in-house stock scanner (data as of July 8, 2026) provided the confluence, the short report of 06/25/2025 the audit mandate.
- REIT particularity: the trailing P/E (~104) is distorted by real estate depreciation and the one-off loss from the convertible settlement ($20.4 million, Q2 2025); what matters are FFO/AFFO per share and the cash coverage of the dividend. CTO's AFFO definition does not deduct recurring capital expenditures — comparisons with peer AFFOs therefore limp.
- Price and valuation figures dated July 8, 2026 (about $21.10, about $700 million market value); analyses are evergreen, daily prices are not a buy argument. The short report's accusations are claims by Wolfpack Research (which profits from falling prices); the reconciliation against the filings is marked as such throughout the text.
About the Company
CTO Realty Growth, Inc. ist ein börsennotierter Real Estate Investment Trust.
| CEO Insider Trades (12 Mo.) | buying own stock |
|---|---|
| Employees | 42 |
| Headquarters | Winter Park, FL |
| Website | ctoreit.com |
| IPO Date | 8. Sep 1992 |
| Next Earnings | 28. Jul 2026 |
Management
| Name | Title | Birth Year |
|---|---|---|
| John P. Albright | President, CEO & Director | 1966 |
| Philip R. Mays CPA | Senior VP, CFO & Treasurer | 1968 |
| Steven Robert Greathouse | Senior VP & Chief Investment Officer | 1978 |
| Lisa M. Vorakoun | Senior VP & Chief Accounting Officer | 1984 |
| Daniel E. Smith Esq. | Senior VP, General Counsel & Corporate Secretary | 1966 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 20, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.