CTO Realty Growth, Inc. announced its operating and financial results for the second quarter ended June 30, 2025, reporting a net loss attributable to common stockholders of $23.42 million, or $(0.77) per diluted share. This net loss was primarily driven by a $20.4 million loss on the extinguishment of debt related to the full settlement of its $51 million 3.875% convertible notes, which matured in April 2025.
Despite the net loss, total revenue for the quarter increased by 30.5% year-over-year to $37.64 million, with the Income Properties segment revenue growing by 29.0% and the Commercial Loans and Investments segment surging by 109.3%. Core FFO for the quarter increased to $14.7 million, maintaining a per-share figure of $0.45.
The company demonstrated strong operational performance in leasing, signing 190,000 square feet of comparable leases at a 22% growth in cash rent spread. CTO reaffirmed its full-year 2025 guidance, projecting Core FFO between $1.80 and $1.86 per share and AFFO between $1.93 and $1.98 per share, with investment guidance remaining at $100 million to $200 million.
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