CTO on NYSE
CTO Realty Growth, Inc.
American real estate investment trust based in Winter Park, active since 20202
In its 2026 annual report the company says: “We are a publicly traded, self-managed equity REIT that focuses on the ownership, management, and repositioning of high-quality retail and mixed-use properties located primarily in what we believe to be faster growing, business-friendly markets exhibiting accommodative business tax policies, outsized relative job and population growth, and where retail demand exceeds supply. We have pursued our investment strategy by investing primarily through fee simple ownership of our properties, commercial loans and preferred equity.”5 Its shares trade on NYSE under the symbol CTO.2
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Last updated Oct 21, 2026.
Overview
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- TickerCTO on NYSE2
- IndustryReal Estate Investment Trusts2
- HeadquartersWinter Park, United States2
- Incorporated inMD3
- Business address369 N. New York Ave., Suite 201, Winter Park, Fl 327893
- Filer categoryAccelerated filer3
- Legal formStock Corporation2
- LEI254900ZQ99OFO1WXS6782
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O REGISTERED AGENT SOLUTIONS, INC., 21202 Baltimore, United States2
- Registered withBusiness Services (Maryland Department of Assessments and Taxation), D208108912
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We are a publicly traded, self-managed equity REIT that focuses on the ownership, management, and repositioning of high-quality retail and mixed-use properties located primarily in what we believe to be faster growing, business-friendly markets exhibiting accommodative business tax policies, outsized relative job and population growth, and where retail demand exceeds supply. We have pursued our investment strategy by investing primarily through fee simple ownership of our properties, commercial loans and preferred equity.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
74.6%Gross margin6
22.7%Operating margin6
6.7%Net margin6
20.1%Revenue growth, 20256
1.8%Return on equity6
1.09×Debt to equity6
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Income Properties brought in 88% of the revenue CTO Realty Growth, Inc. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Income Properties | $96.7M | $110.6M | $132.2M |
| Interest Income from Commercial Loan Investments | $4.1M | $7.4M | $12.5M |
| Management Fee Income | $4.4M | $4.6M | $4.8M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue25¢$37.9M
- Other costs68¢$101.1M
- Income tax0¢$446.0K
- Profit7¢$10.1M
Out of $149.5M in revenue.6
Where each dollar of operating cash went, fiscal 2025
- Dividends paid76¢$49.0M
- Share buybacks14¢$9.4M
- Kept or used elsewhere10¢$6.2M
Out of $64.6M of cash from operations.6
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Income Properties | $132.2M | $110.6M | $96.7M |
| Interest Income From Commercial Loans and Investments | $12.5M | $7.4M | $4.1M |
| Total Revenues | $149.5M | $124.5M | $109.1M |
| Total Direct Cost of Revenues | -$37.9M | -$33.2M | -$30.2M |
| General and Administrative Expenses | -$18.5M | -$16.3M | -$14.2M |
| Provision for Impairment | -$68.0K | -$676.0K | -$1.6M |
| Depreciation and Amortization | -$60.0M | -$65.0M | -$44.2M |
| Total Operating Expenses | -$116.5M | -$115.2M | -$90.2M |
| Gain on Disposition of Assets | $21.5M | $8.3M | $7.5M |
| Loss on Extinguishment of Debt | -$20.4M | ||
| Other Gain | $1.0M | $8.3M | $7.5M |
| Total Operating Income | $34.0M | $17.6M | $26.5M |
| Investment and Other Income | $3.5M | $2.6M | $2.0M |
| Interest Expense | -$26.9M | -$22.5M | -$22.4M |
| Income (Loss) Before Income Tax Benefit (Expense) | $10.5M | -$2.3M | $6.1M |
| Income Tax Benefit (Expense) | -$446.0K | $339.0K | -$604.0K |
| Net Income (Loss) Attributable to the Company | $10.1M | -$2.0M | $5.5M |
| Distributions to Preferred Stockholders | -$7.5M | -$6.8M | -$4.8M |
| Net Income (Loss) Attributable to Common Stockholders | $2.6M | -$8.8M | $758.0K |
| Basic Net Income (Loss) Attributable to Common Stockholders (in dollars per share) | $0.08 | -$0.35 | $0.03 |
| Diluted Net Income (Loss) Attributable to Common Stockholders (in dollars per share) | $0.08 | -$0.35 | $0.03 |
| Weighted Average Number of Common Shares - Basic (in shares) | 32.3M shares | 25.4M shares | 22.5M shares |
| Weighted Average Number of Common Shares - Diluted (in shares) | 32.3M shares | 25.4M shares | 22.5M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Land, at Cost | $289.0M | $257.7M | ||
| Building and Improvements, at Cost | $766.4M | $720.5M | ||
| Other Furnishings and Equipment, at Cost | $923.0K | $883.0K | ||
| Construction in Process, at Cost | $4.1M | $5.1M | ||
| Total Real Estate, at Cost | $1.1B | $984.2M | ||
| Less, Accumulated Depreciation | -$107.3M | -$82.9M | ||
| Real Estate-Net | $953.1M | $901.3M | ||
| Land and Development Costs | $300.0K | $300.0K | ||
| Intangible Lease Assets-Net | $84.7M | $79.2M | ||
| Investment in Alpine Income Property Trust, Inc. | $41.3M | $39.7M | ||
| Commercial Loans and Investments | $104.8M | $105.0M | $61.8M | $31.9M |
| Cash and Cash Equivalents | $6.5M | $9.0M | $10.2M | |
| Restricted Cash | $34.7M | $8.3M | $7.6M | |
| Refundable Income Taxes | $70.0K | |||
| Deferred Income Taxes-Net | $2.3M | $2.5M | ||
| Other Assets-See Note 12 | $36.2M | $36.2M | ||
| Total Assets | $1.3B | $1.2B | ||
| Accounts Payable | $1.7M | $3.3M | ||
| Accrued and Other Liabilities-See Note 18 | $28.2M | $21.3M | ||
| Deferred Revenue-See Note 19 | $18.8M | $10.2M | ||
| Intangible Lease Liabilities-Net | $31.5M | $15.1M | ||
| Income Taxes Payable | $29.0K | |||
| Long-Term Debt-Net | $616.3M | $519.0M | ||
| Total Liabilities | $696.6M | $568.8M | ||
| Preferred Stock - 100,000,000 shares authorized; $0.01 par value, 6.375% Series A Cumulative Redeemable Preferred Stock, $25.00 Per Share Liquidation Preference, 4,713,069 shares issued and outstanding at December 31, 2025 and 2024 | $47.0K | $47.0K | ||
| Common Stock - 500,000,000 shares authorized; $0.01 par value, 32,372,291 shares issued and outstanding at December 31, 2025 and 31,673,479 shares issued and outstanding at December 31, 2024 | $324.0K | $317.0K | ||
| Additional Paid-In Capital | $382.5M | $367.8M | ||
| Retained Earnings | $184.9M | $232.1M | ||
| Accumulated Other Comprehensive Income (Loss) | -$405.0K | $12.5M | ||
| Total Stockholders' Equity | $567.3M | $612.8M | ||
| Total Liabilities and Stockholders' Equity | $1.3B | $1.2B | ||
| Preferred Stock, Shares Authorized | 100.0M shares | 100.0M shares | ||
| Preferred Stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, liquidation preference (in dollars per share) | $25 | $25 | ||
| Preferred Stock, Shares Issued | 4.7M shares | 4.7M shares | ||
| Preferred Stock, Shares Outstanding | 4.7M shares | 4.7M shares | ||
| Common Stock, shares authorized | 500.0M shares | 500.0M shares | ||
| Common Stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common Stock, shares issued | 32.4M shares | 31.7M shares | ||
| Common Stock, shares outstanding | 32.4M shares | 31.7M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Land, at Cost | $289.0M | $257.7M | ||
| Building and Improvements, at Cost | $766.4M | $720.5M | ||
| Other Furnishings and Equipment, at Cost | $923.0K | $883.0K | ||
| Construction in Process, at Cost | $4.1M | $5.1M | ||
| Total Real Estate, at Cost | $1.1B | $984.2M | ||
| Less, Accumulated Depreciation | -$107.3M | -$82.9M | ||
| Real Estate-Net | $953.1M | $901.3M | ||
| Land and Development Costs | $300.0K | $300.0K | ||
| Intangible Lease Assets-Net | $84.7M | $79.2M | ||
| Investment in Alpine Income Property Trust, Inc. | $41.3M | $39.7M | ||
| Commercial Loans and Investments | $104.8M | $105.0M | $61.8M | $31.9M |
| Cash and Cash Equivalents | $6.5M | $9.0M | $10.2M | |
| Restricted Cash | $34.7M | $8.3M | $7.6M | |
| Refundable Income Taxes | $70.0K | |||
| Deferred Income Taxes-Net | $2.3M | $2.5M | ||
| Other Assets-See Note 12 | $36.2M | $36.2M | ||
| Total Assets | $1.3B | $1.2B | ||
| Accounts Payable | $1.7M | $3.3M | ||
| Accrued and Other Liabilities-See Note 18 | $28.2M | $21.3M | ||
| Deferred Revenue-See Note 19 | $18.8M | $10.2M | ||
| Intangible Lease Liabilities-Net | $31.5M | $15.1M | ||
| Income Taxes Payable | $29.0K | |||
| Long-Term Debt-Net | $616.3M | $519.0M | ||
| Total Liabilities | $696.6M | $568.8M | ||
| Preferred Stock - 100,000,000 shares authorized; $0.01 par value, 6.375% Series A Cumulative Redeemable Preferred Stock, $25.00 Per Share Liquidation Preference, 4,713,069 shares issued and outstanding at December 31, 2025 and 2024 | $47.0K | $47.0K | ||
| Common Stock - 500,000,000 shares authorized; $0.01 par value, 32,372,291 shares issued and outstanding at December 31, 2025 and 31,673,479 shares issued and outstanding at December 31, 2024 | $324.0K | $317.0K | ||
| Additional Paid-In Capital | $382.5M | $367.8M | ||
| Retained Earnings | $184.9M | $232.1M | ||
| Accumulated Other Comprehensive Income (Loss) | -$405.0K | $12.5M | ||
| Total Stockholders' Equity | $567.3M | $612.8M | ||
| Total Liabilities and Stockholders' Equity | $1.3B | $1.2B | ||
| Preferred Stock, Shares Authorized | 100.0M shares | 100.0M shares | ||
| Preferred Stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, liquidation preference (in dollars per share) | $25 | $25 | ||
| Preferred Stock, Shares Issued | 4.7M shares | 4.7M shares | ||
| Preferred Stock, Shares Outstanding | 4.7M shares | 4.7M shares | ||
| Common Stock, shares authorized | 500.0M shares | 500.0M shares | ||
| Common Stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common Stock, shares issued | 32.4M shares | 31.7M shares | ||
| Common Stock, shares outstanding | 32.4M shares | 31.7M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net Income (Loss) Attributable to the Company | $10.1M | -$2.0M | $5.5M |
| Depreciation and Amortization | $60.0M | $65.0M | $44.2M |
| Amortization of Intangible Assets and Liabilities to Income Property Revenue | -$1.0M | -$254.0K | $2.3M |
| Amortization of Deferred Financing Costs to Interest Expense | $1.3M | $1.0M | $970.0K |
| Amortization of Discount on Convertible Debt | $45.0K | $159.0K | $159.0K |
| Gain on Disposition of Real Estate and Intangible Lease Assets and Liabilities | -$21.5M | -$3.8M | -$7.5M |
| Gain on Disposition of Subsurface Interests | -$4.5M | ||
| Loss on Extinguishment of Debt | $20.4M | ||
| Provision for Impairment | $68.0K | $676.0K | $1.6M |
| Accretion of Commercial Loans and Investments Origination Fees | -$733.0K | -$276.0K | -$137.0K |
| Non-Cash Imputed Interest | -$19.0K | -$29.0K | -$29.0K |
| Deferred Income Taxes | $158.0K | -$458.0K | $521.0K |
| Unrealized Loss (Gain) on Investment Securities | -$39.0K | $1.1M | $3.9M |
| Extinguishment of Contingent Obligation | -$2.8M | ||
| Non-Cash Compensation | $4.2M | $3.6M | $3.7M |
| Refundable Income Taxes | $70.0K | $176.0K | $202.0K |
| Land and Development Costs | $2.0K | -$46.0K | |
| Mitigation Credits and Mitigation Credit Rights | $1.0M | $1.5M | |
| Other Assets | -$7.7M | -$4.0M | -$4.6M |
| Accounts Payable | -$1.6M | $522.0K | $214.0K |
| Accrued and Other Liabilities | $1.4M | $4.0M | -$2.6M |
| Deferred Revenue | -$730.0K | -$2.2M | -$642.0K |
| Income Taxes Payable | $29.0K | ||
| Net Cash Provided By Operating Activities | $64.6M | $59.9M | $46.3M |
| Acquisition of Real Estate and Intangible Lease Assets and Liabilities | -$145.1M | -$224.4M | -$80.3M |
| Investments in and Improvements to Real Estate | -$15.2M | -$17.5M | -$22.7M |
| Acquisition of Commercial Loans and Investments | -$14.3M | -$63.9M | -$32.9M |
| Proceeds from Disposition of Property, Plant, and Equipment, Net | $84.3M | $37.2M | $84.3M |
| Proceeds from Disposition of Subsurface Interests | $5.0M | ||
| Principal Payments Received on Commercial Loans and Investments | $15.2M | $20.3M | $986.0K |
| Cash Received for Commercial Loan Reserves | $10.1M | $9.5M | $107.0K |
| Acquisition of Investment Securities | -$9.0M | -$447.0K | -$3.2M |
| Proceeds from the Sale of Investment Securities | $2.5M | $1.7M | $1.2M |
| Net Cash Used In Investing Activities | -$71.5M | -$232.7M | -$52.5M |
| Proceeds from Long-Term Debt | $405.0M | $366.0M | $148.8M |
| Payments on Long-Term Debt | -$292.3M | -$342.0M | -$99.6M |
| Cash Paid for Loan Fees | -$1.5M | -$1.1M | -$180.0K |
| Cash Proceeds from Common Stock Issuance | $648.0K | $647.0K | $375.0K |
| Proceeds from Issuance of Preferred Stock, Net of Underwriting Discount and Expenses | $33.0M | ||
| Cash Used to Purchase Common Stock | -$9.4M | -$664.0K | -$6.4M |
| Cash Paid for Vesting of Restricted Stock | -$1.0M | -$1.3M | -$1.0M |
| Proceeds from (Cash Paid for) Issuance of Common and Preferred Stock, Net | -$124.0K | $164.8M | -$175.0K |
| Cash Paid for Premium Related to Settlement of 2025 Notes | -$14.1M | ||
| Dividends Paid - Preferred Stock | -$7.5M | -$6.8M | -$4.8M |
| Dividends Paid - Common Stock | -$49.0M | -$40.3M | -$34.3M |
| Net Cash Provided By Financing Activities | $30.7M | $172.3M | $2.8M |
| Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash | $23.8M | -$458.0K | -$3.4M |
| Cash Paid for Taxes, Net of Refunds Received | $166.0K | -$57.0K | -$118.0K |
| Cash Paid for Interest | $26.3M | $21.2M | $21.6M |
| Capitalized interest | $300.0K | $300.0K | $300.0K |
| Unrealized Gain (Loss) on Cash Flow Hedges | -$12.9M | $5.6M | -$8.9M |
| Common Stock Dividends Declared and Unpaid | $737.0K | $796.0K | $827.0K |
| Principal Related to Settlement of 2025 Notes, Paid in Common Stock | $14.8M | ||
| Premium Related to Settlement of 2025 Notes, Paid in Common Stock | $6.3M |
No quarter-by-quarter statement was filed.
Corporate structure
CTO Realty Growth, Inc. sits at the top of its group. 62 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of CTO Realty Growth, Inc.
- DYNASTY INVEST LTD. Filed SCHEDULE 13G/A on CTO Realty Growth, Inc., latest Sep 10, 2026 (4 filings since Feb 17, 2022)
- VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G/A on CTO Realty Growth, Inc., latest Jul 31, 2026 (2 filings since Apr 29, 2026)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on CTO Realty Growth, Inc., latest Mar 26, 2026 (3 filings since Jan 30, 2025)
- BlackRock Filed SCHEDULE 13G/A on CTO Realty Growth, Inc., latest Apr 17, 2025 (8 filings since Feb 4, 2022)
- DUBUQUE BANK & TRUST CO Filed SC 13G on CTO Realty Growth, Inc., latest Feb 7, 2023
- CTO Realty Growth, Inc. Winter Park, Florida, United States
- Alpine Income Property Trust, Inc. Stake · Baltimore, Maryland, United States
- ALPINE INCOME PROPERTY MANAGER, LLC Subsidiary · Winter Park, Florida, United States
- CTO TRS Crisp39 LLC Subsidiary · Delaware, United States
- CTO TRS Mitigation LLC Subsidiary · Delaware, United States
- CTO TRS TBMB LLC Subsidiary · Delaware, United States
- CTO16 Atlantic LLC Subsidiary · Delaware, United States
- CTO17 Westcliff TX LLC (f/k/a CTO17 Westcliff LLC) Subsidiary · Delaware, United States
- CTO18 Albuquerque NM LLC Subsidiary · Delaware, United States
- CTO18 Jacksonville FL LLC Subsidiary · Delaware, United States
- CTO19 Oceanside NY LLC Subsidiary · Delaware, United States
- CTO19 Reston VA LLC Subsidiary · Delaware, United States
- CTO19 Strand Jax LLC Subsidiary · Delaware, United States
- CTO20 Crossroads AZ LLC Subsidiary · Delaware, United States
- CTO20 Hialeah LLC Subsidiary · Delaware, United States
- CTO20 Perimeter II LLC Subsidiary · Delaware, United States
- CTO20 Perimeter LLC Subsidiary · Delaware, United States
- CTO20 Tampa LLC Subsidiary · Delaware, United States
- CTO21 Acquisitions II LLC Subsidiary · Delaware, United States
- CTO21 Acquisitions LLC Subsidiary · Delaware, United States
- CTO21 AL Outparcel LLC Subsidiary · Delaware, United States
- CTO21 Apex LLC (f/k/a CTO20 Falls Centre LLC) Subsidiary · Delaware, United States
- CTO21 Buford 1 LLC Subsidiary · Delaware, United States
- CTO21 Exchange LLC Subsidiary · Delaware, United States
- CTO21 Santa Fe LLC Subsidiary · Delaware, United States
- CTO21 Winter Park LLC Subsidiary · Delaware, United States
- and 36 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (1 companies). Each entity in the chart links to its source.
What it owns
What CTO Realty Growth, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Land | $289.0M6 Dec 31, 2025 | $257.7M6 Dec 31, 2024 | +12.1% |
| Operating-lease assets (leased space) | $241.0K6 Dec 31, 2025 | $305.0K6 Dec 31, 2024 | −21.0% |
Real estate and locations
| Item | Latest | A year before | Change |
|---|---|---|---|
| Real estate investments, net | $953.1M6 Dec 31, 2025 | $901.3M6 Dec 31, 2024 | +5.7% |
| Real estate investments, at cost | $1.1B6 Dec 31, 2025 | $984.2M6 Dec 31, 2024 | +7.7% |
| Real estate accumulated depreciation | $107.3M6 Dec 31, 2025 | $82.9M6 Dec 31, 2024 | +29.5% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $6.5M6 Dec 31, 2025 | $9.0M6 Dec 31, 2024 | −28.3% |
| Stakes in other companies (equity method) | $06 Dec 31, 2025 | $06 Dec 31, 2024 |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Finite-lived intangibles, gross | $152.4M6 Dec 31, 2025 | $134.2M6 Dec 31, 2024 | +13.6% |
| Accumulated amortization | $67.7M6 Dec 31, 2025 | $55.0M6 Dec 31, 2024 | +23.1% |
| Finite-lived intangibles, net | $84.7M6 Dec 31, 2025 | $79.2M6 Dec 31, 2024 | +7.0% |
Properties, in its own words
Our principal offices are located at 369 N. New York Avenue, Suite 201, Winter Park, Florida 32789.
As of December 31, 2025, the Company owns the following assets: (i) 2 properties occupied by single-tenants located in Florida and (ii) 19 multi-tenanted properties located in Arizona, Florida, Georgia, North Carolina, Texas, Virginia and New Mexico. Please refer to Item 1. “Business” for a more detailed discussion of our properties.
Item 2 of the 10-K filed Feb 19, 2026.5
Leadership
Who has led CTO Realty Growth, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
2010201520202025
- Chief executive officerJohn P. Albright Aug 1, 2011 to now15
- Chief executive officerWilliam H. McMunn Jan 26, 2006 to Jan 29, 200916
- ChairWilliam H. McMunn Apr 24, 2008 to Jan 29, 200917
- ChairBob D. Allen Oct 30, 2006 to Nov 1, 200618
- PresidentJohn P. Albright Aug 1, 2011 to now15
- PresidentWilliam H. McMunn Jan 26, 2006 to Jan 29, 200916
- Chief financial officerPhilip Mays Jun 18, 2024 to now19
- Chief financial officerMatthew Morris Partridge Oct 5, 2020 to Feb 16, 202420
- Chief financial officerMark E. Patten Apr 19, 2012 to Feb 26, 202021
Board members and other officers (25)
- VP & CHIEF ACCOUNTING OFFICERLisa Vorakoun May 9, 2022 to now22
- Sr. VP--InvestmentsSteven Robert Greathouse Jan 26, 2018 to now23
- Senior Vice PresidentMark E. Patten Feb 20, 2013 to Mar 18, 201324
- Senior Vice PresidentBruce W. Teeters Jan 26, 2006 to Dec 14, 201025
- Senior Vice PresidentRobert F. Apgar Jan 26, 2006 to Apr 24, 200826
- Board memberChristopher J. Drew Jan 31, 2022 to now27
- Board memberGeorge R. Brokaw Nov 1, 2018 to now28
- Board memberRobert Blakeslee Gable Nov 1, 2018 to now29
- Board memberCasey R. Wold Mar 9, 2017 to Apr 1, 202230
- Board memberChristopher W. Haga Nov 14, 2017 to now31
- Board memberLaura M. Franklin Sep 15, 2016 to now32
- Board memberJohn P. Albright Mar 16, 2012 to now33
- Board memberHoward C. Serkin Feb 2, 2011 to Apr 2, 202134
- Board memberA. Chester Skinner Iii. Apr 28, 2010 to Jun 12, 201535
- Board memberThomas P. Warlow Iii. Apr 28, 2010 to Mar 1, 201936
- Board memberJeffry B. Fuqua May 22, 2009 to Sep 16, 201637
- Board memberAllen C. Harper Jun 2, 2009 to Jun 2, 200938
- Board memberWilliam L. Olivari Apr 23, 2008 to Mar 1, 201939
- Board memberLinda Loomis Shelley Dec 1, 2008 to Mar 9, 201240
- Board memberJames E. Jordan Apr 25, 2007 to Apr 25, 200741
- Board memberWilliam H. Davison Apr 25, 2007 to Mar 17, 201442
- Board memberWilliam H. McMunn Jan 26, 2006 to Apr 19, 200716
- Board memberBob D. Allen Feb 17, 2006 to Feb 24, 200643
- Board memberJohn C. Myers Iii. Apr 26, 2006 to Jun 9, 200944
- Board memberWilliam J. Voges May 16, 2006 to Jan 17, 201245
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Alpine Income Property Manager, LLC Delaware4
- CTO TRS Crisp39 LLC Delaware4
- CTO TRS Mitigation LLC Delaware4
- CTO TRS TBMB LLC Delaware4
- CTO16 Atlantic LLC Delaware4
- CTO17 Westcliff TX LLC (f/k/a CTO17 Westcliff LLC) Delaware4
- CTO18 Albuquerque NM LLC Delaware4
- CTO18 Jacksonville FL LLC Delaware4
- CTO19 Oceanside NY LLC Delaware4
- CTO19 Reston VA LLC Delaware4
- CTO19 Strand Jax LLC Delaware4
- CTO20 Crossroads AZ LLC Delaware4
- CTO20 Hialeah LLC Delaware4
- CTO20 Perimeter II LLC Delaware4
- CTO20 Perimeter LLC Delaware4
- CTO20 Tampa LLC Delaware4
- CTO21 AL Outparcel LLC Delaware4
- CTO21 Acquisitions II LLC Delaware4
- CTO21 Acquisitions LLC Delaware4
- CTO21 Apex LLC (f/k/a CTO20 Falls Centre LLC) Delaware4
- CTO21 Buford 1 LLC Delaware4
- CTO21 Exchange LLC Delaware4
- CTO21 Santa Fe LLC Delaware4
- CTO21 Winter Park LLC Delaware4
All 60 listed subsidiaries
- CTO22 Forsyth LLC Delaware4
- CTO22 Madison Yards LLC Delaware4
- CTO22 Short Pump LLC Delaware4
- CTO22 Waterstar LLC Delaware4
- CTO22 Watters Creek LLC Delaware4
- CTO23 Founder DAL LLC Delaware4
- CTO23 Rockwall LLC Delaware4
- CTO24 Brandon LLC Delaware4
- CTO24 Carolina LLC Delaware4
- CTO24 Forsyth LLC Delaware4
- CTO24 Hypoluxo LLC (f/k/a CTO20 Santa Fe LLC) Delaware4
- CTO24 MSTC LLC Delaware4
- CTO24 Millenia LLC Delaware4
- CTO25 Main Street LLC Delaware4
- DB Beach Land LLC Delaware4
- DB Main Street LLC Delaware4
- DB Mainland LLC Delaware4
- DB Mainland Two LLC Delaware4
- Daytona JV LLC Delaware4
- IGI18 Back 40 LLC Delaware4
- IGI20 Crossroads AZ LLC Delaware4
- IGI20 Tampa LLC Delaware4
- IGI21 Katy LLC Delaware4
- IGL20 Tampa LLC Delaware4
- Indigo Development LLC Florida4
- Indigo Group Inc. Florida4
- Indigo Group Ltd. (A Limited Partnership) Florida4
- LHC15 Atlantic DB JV LLC Delaware4
- LHC15 Riverside FL LLC Delaware4
- Palms Del Mar Inc. Florida4
- Tomoka Ag Inc. Florida4
- Tomoka24 Granada LLC Delaware4
- Tomoka24 Rivana LLC Delaware4
- Tomoka25 Ashley Park LLC Delaware4
- Tomoka25 Las Palmas LLC (f/k/a CTO23 Forsyth Land LLC Delaware4
- Tomoka25 Pompano LLC Delaware4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
Timeline
- Sep 30, 20268-K Entered a material agreement; New debt or obligation; Regulation FD disclosure46
- Jul 28, 20268-K Results of operations; Regulation FD disclosure47
- Jun 18, 20268-K Shareholder vote48
- Apr 29, 20268-K Other events49
- Apr 28, 20268-K Results of operations; Regulation FD disclosure50
- Feb 19, 20268-K Results of operations; Regulation FD disclosure51
- Nov 10, 20258-K Entered a material agreement52
- Oct 28, 20258-K Results of operations; Regulation FD disclosure53
- Sep 25, 20258-K Entered a material agreement; New debt or obligation; Regulation FD disclosure54
- Sep 24, 20258-K Regulation FD disclosure55
- Jul 29, 20258-K Results of operations; Regulation FD disclosure56
- Jun 20, 20258-K Shareholder vote57
- Aug 19, 2020Founded CTO Realty Growth, Inc. is founded2
- Aug 1, 2011New chief executive John P. Albright becomes CEO15
- Jan 26, 2006New chief executive William H. McMunn becomes CEO16
Calendar
Coming up
- Oct 27, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.50 a share, on Oct 28, 2025.58
When it reported results
- Jul 28, 2026Reported quarterly or annual results47
- Apr 28, 2026Reported quarterly or annual results50
- Feb 19, 2026Reported quarterly or annual results51
- Oct 28, 2025Reported quarterly or annual results53
- Jul 29, 2025Reported quarterly or annual results56
- May 1, 2025Reported quarterly or annual results59
- Feb 20, 2025Reported quarterly or annual results60
- Oct 24, 2024Reported quarterly or annual results61
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
377 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 60 major events, 234 insider forms, 18 large holders, 44 other. The latest 20:
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Sep 30, 20268-K EDGAR
- Sep 10, 2026SCHEDULE 13G/A EDGAR
- Jul 31, 2026SCHEDULE 13G/A EDGAR
- Jul 28, 202610-Q EDGAR
- Jul 28, 20268-K EDGAR
- Jul 1, 20264 EDGAR
- Jul 1, 20264 EDGAR
- Jul 1, 20264 EDGAR
- Jul 1, 20264 EDGAR
- Jun 18, 20268-K EDGAR
- Apr 29, 2026SCHEDULE 13G EDGAR
- Apr 29, 20268-K EDGAR
- Apr 29, 2026424B5 EDGAR
- Apr 29, 2026424B5 EDGAR
- Apr 28, 2026ARS EDGAR
- Apr 28, 2026DEFA14A EDGAR
The 377 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
32 open-market trades by officers, directors and large owners since October 2021: 28 buys and 4 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 16, 2025 | Albright John PPRESIDENT & CEO | Buy | 2,000 | $16.38 | $32.8K | Form 4 |
| Sep 12, 2025 | Vorakoun LisaSVP & CHIEF ACCOUNTING OFFICER | Buy | 750 | $16.60 | $12.4K | Form 4 |
| Sep 12, 2025 | Greathouse Steven RobertSVP & CHIEF INVESTMENT OFFICER | Buy | 600 | $16.70 | $10.0K | Form 4 |
| Sep 11, 2025 | Mays PhilipSVP, CFO & Treasurer | Buy | 1,000 | $16.61 | $16.6K | Form 4 |
| Sep 11, 2025 | Smith Daniel EarlSVP, GEN COUNSEL & CORP SECRET | Buy | 1,000 | $16.50 | $16.5K | Form 4 |
| Sep 11, 2025 | Albright John PPRESIDENT & CEO | Buy | 4,200 | $16.53 | $69.4K | Form 4 |
| Sep 11, 2025 | Albright John PPRESIDENT & CEO | Buy | 2,000 | $16.38 | $32.8K | Form 4 |
| Jun 26, 2025 | Mays PhilipSVP, CFO & Treasurer | Buy | 1,000 | $17.29 | $17.3K | Form 4 |
| Jun 26, 2025 | Brokaw George RDirector | Buy | 2,000 | $16.94 | $33.9K | Form 4 |
| Jun 26, 2025 | Smith Daniel EarlSVP, GEN COUNSEL & CORP SECRET | Buy | 1,000 | $17.00 | $17.0K | Form 4 |
| Jun 26, 2025 | Albright John PPRESIDENT & CEO | Buy | 3,800 | $17.05 | $64.8K | Form 4 |
| Nov 11, 2024 | Albright John PPRESIDENT & CEO | Sale | 29,488 | $20.71 | $610.7K | Form 4 |
| Sep 9, 2024 | Haga Christopher WDirector | Sale | 3,000 | $19.46 | $58.4K | Form 4 |
| Aug 29, 2024 | Haga Christopher WDirector | Sale | 3,000 | $19.19 | $57.6K | Form 4 |
| Sep 25, 2023 | Albright John PPRESIDENT & CEO | Buy | 9,000 | $16.03 | $144.3K | Form 4 |
| Mar 17, 2023 | Smith Daniel EarlSVP, GEN COUNSEL & CORP SECRET | Buy | 1,000 | $16.00 | $16.0K | Form 4 |
| Mar 10, 2023 | Smith Daniel EarlSVP, GEN COUNSEL & CORP SECRET | Buy | 1,000 | $16.60 | $16.6K | Form 4 |
| Mar 10, 2023 | Albright John PPRESIDENT & CEO | Buy | 1,755 | $16.56 | $29.1K | Form 4 |
| Mar 10, 2023 | PARTRIDGE MATTHEW MORRISSR. VP, CFO & TREASURER | Buy | 2,500 | $16.75 | $41.9K | Form 4 |
| Mar 8, 2023 | Greathouse Steven RobertSVP & CHIEF INVESTMENT OFFICER | Buy | 1,182 | $16.92 | $20.0K | Form 4 |
All 32 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- DYNASTY INVEST LTD.SCHEDULE 13G/A, 4 filings Feb 17, 2022 to Sep 10, 202662
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G/A, 2 filings Apr 29, 2026 to Jul 31, 202663
- VANGUARD GROUP INCSCHEDULE 13G/A, 3 filings Jan 30, 2025 to Mar 26, 202664
- BlackRockSCHEDULE 13G/A, 8 filings Feb 4, 2022 to Apr 17, 202565
- DUBUQUE BANK & TRUST COSC 13G, 1 filing Feb 7, 202366
Stakes it holds
CTO Realty Growth, Inc. has told the SEC it owns more than 5% of 1 company, latest first (Schedules 13D and 13G).
- Alpine Income Property Trust, Inc.SC 13D/A Sep 21, 2022 to Mar 21, 202367
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | John P. AlbrightPresident & Chief Executive Officer | $870.0K | $3.9M68 | |
| 2025 | Steven R. GreathouseSr. Vice President & Chief Investment Officer | $520.0K | $1.8M68 | |
| 2025 | Philip R. Mays Sr. Vice President, Chief Financial Officer & Treasurer | $415.0K | $1.5M68 | |
| 2025 | Daniel E. SmithSr. Vice President, General Counsel & Corporate Secretary | $335.0K | $1.2M68 | |
| 2025 | Lisa M. VorakounSr. Vice President & Chief Accounting Officer | $300.0K | $1.1M68 | |
| 2024 | John P. AlbrightPresident & Chief Executive Officer | $640.7K | $3.0M68 | |
| 2024 | Steven R. GreathouseSr. Vice President & Chief Investment Officer | $400.0K | $1.5M68 | |
| 2024 | Daniel E. SmithSr. Vice President, General Counsel & Corporate Secretary | $300.0K | $1.1M68 | |
| 2024 | Lisa M. VorakounSr. Vice President & Chief Accounting Officer | $255.8K | $909.2K68 | |
| 2024 | Philip R. Mays Sr. Vice President, Chief Financial Officer & Treasurer | $203.1K | $525.4K68 | |
| 2023 | John P. AlbrightPresident & Chief Executive Officer | $640.7K | $2.6M68 | |
| 2023 | Steven R. GreathouseSr. Vice President & Chief Investment Officer | $400.0K | $1.3M68 | |
| 2023 | Daniel E. SmithSr. Vice President, General Counsel & Corporate Secretary | $300.0K | $1.1M68 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 3,606,519 | $77.6M | 0.0% | +310,568 |
| Vanguard Portfolio Management LLC | 1,631,242 | $35.1M | 0.0% | +10,013 |
| Vanguard Capital Management LLC | 1,385,610 | $29.8M | 0.0% | +36,093 |
| Two Sigma Investments, LP | 1,358,088 | $29.2M | 0.0% | +476,459 |
| Geode Capital Management, LLC | 1,014,386 | $21.8M | 0.0% | +176,499 |
| State Street Corp | 732,993 | $15.8M | 0.0% | +22,806 |
| Heitman Real Estate Securities LLC | 710,452 | $15.3M | 1.0% | −32,244 |
| Cutler Capital Management, LLC | 651,274 | $14.0M | 4.2% | −8,096 |
| Invesco Ltd. | 572,289 | $12.3M | 0.0% | +33,240 |
| Grace & White Inc /ny | 558,501 | $12.0M | 1.9% | −32,624 |
| Miller Value Partners, LLC | 539,900 | $11.6M | 2.7% | −16,153 |
| Dimensional Fund Advisors LP | 469,023 | $10.1M | 0.0% | +25,277 |
| Morgan Stanley | 458,208 | $9.9M | 0.0% | +70,289 |
| Charles Schwab Investment Management Inc | 458,075 | $9.9M | 0.0% | +145,898 |
| Man Group plc | 379,354 | $8.2M | 0.0% | +132,206 |
| Qube Research & Technologies Ltd | 368,697 | $7.9M | 0.0% | +329,168 |
| Leeward Investments, LLC - MA | 349,571 | $7.5M | 0.3% | −7,693 |
| Kennedy Capital Management LLC | 329,907 | $7.1M | 0.1% | −5,243 |
| State of New Jersey Common Pension Fund D | 299,068 | $6.4M | 0.0% | +10,000 |
| Northern Trust Corp | 293,912 | $6.3M | 0.0% | +29,560 |
| UBS Group AG | 247,443 | $5.3M | 0.0% | +11,953 |
| Citadel Advisors LLC | 237,221 | $5.1M | 0.0% | −97,228 |
| Russell Investments Group, Ltd. | 234,932 | $5.1M | 0.0% | +22,778 |
| Aqr Capital Management LLC | 234,820 | $5.1M | 0.0% | +69,809 |
| Boston Partners | 234,314 | $5.0M | 0.0% | +32,879 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How CTO Realty Growth, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARCTO Realty Growth, Inc.1
- CIK0000023795
- Employer ID (EIN)59-04837005
- Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
- Incorporated inMaryland5
- Fiscal year endsDecember 311
- Industry code (SIC)6798 Real Estate Investment Trusts1
- SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
- Business address369 N. New York Ave., Suite 201, Winter Park, FL 327891
- Phone407-904-33241
- Shares outstanding33,783,592 as of Apr 21, 202613
- Public float$545.4M as of Jun 30, 20255
- AuditorGRANT THORNTON LLP, Charlotte, North Carolina PCAOB ID 248; it also attests to the company’s internal control over financial reporting5
- On EDGAR sinceMar 1, 19951
- Filings1,700 in all: 4 (771), 8-K (297), 10-Q (95), DEFA14A (73), SC 13D/A (64), SC 13G/A (40), UPLOAD (36), 4/A (35)1
All 48 form types
3 (34), SC 13G (34), 10-K (31), DEF 14A (30), DFAN14A (24), CORRESP (17), 8-K/A (14), 424B5 (13), 5 (7), S-8 (7), PRE 14A (6), PREC14A (6), SC 13D (6), SCHEDULE 13G/A (6), ARS (5), DEFC14A (5), EFFECT (5), PRRN14A (5), S-3 (4), 10-Q/A (3), 425 (2), 8-A12B (2), CERT (2), DEFR14A (2), FWP (2), PRER14A (2), SCHEDULE 13G (2), 10-K/A (1), 10-K405 (1), 144 (1), 15-12B (1), 25-NSE (1), 8-K12B (1), DEFM14A (1), DEFN14A (1), DEL AM (1), NO ACT (1), NT 10-Q (1), POS AM (1), S-8 POS (1)
- Latest filingsAnnual report (10-K) Feb 19, 2026
Quarterly report (10-Q) Jul 28, 2026
Proxy statement (DEF 14A) Apr 28, 2026
Latest 8-K (8-K) Sep 30, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.01 par value per share | CTO | NYSE |
| 6.375% Series A Cumulative Redeemable Preferred Stock, $0.01 par value per share | CTO/PA | NYSE |
From the cover page of the 10-K filed Feb 19, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks CTO Realty Growth, Inc. names in Item 1A of its 10-K filed Feb 19, 2026: 72 risks under these headings, as written.5
- Risks Related to Our Business
- Income Property Operations
- We are subject to risks related to the ownership of commercial real estate that could affect the performance and value of our properties.
- Adverse changes in U.S., global and local regions or markets that impact our tenants’ businesses may materially and adversely affect us generally and the ability of our tenants to make rental payments to us pursuant to our leases.
- Global trade disruption, significant introductions of trade barriers and bilateral trade frictions, together with any future downturns in the global economy resulting therefrom, could adversely affect our performance.
- Our business is dependent upon our tenants successfully operating their businesses, and their failure to do so could materially and adversely affect us.
- Retail properties, particularly those with multiple tenants, often depend on the presence of and successful operation of an anchor tenant or tenants, and the failure of such tenant’s business or the loss of the anchor tenant(s) could adversely affect the overall success of our property and thereby could adversely impact our financial condition, results of operations and cash flows.
- We are subject to risks that affect the general retail environment in the United States, such as weakness in the economy, the level of consumer spending, the adverse financial condition of large consumer retail companies and competition from discount and internet retailers, any of which could adversely affect market rents for retail space and the willingness or ability of retail tenants to lease space in our properties.
- Competition that traditional retail tenants face from e-commerce retail sales, or the integration of brick and mortar stores with e-commerce retail operators, could adversely affect our business.
- A key element of our future success will depend upon, among other things, our ability to successfully execute our strategy to invest in income-producing assets which if unsuccessful could adversely impact our financial condition, results of operations and cash flows.
- We operate in a highly competitive market for the acquisition of income properties and more established entities or other investors may be able to compete more effectively for acquisition opportunities than we can.
- The loss of revenues from our income property portfolio or certain tenants would adversely impact our results of operations and cash flows.
The other 62 risks
- A significant portion of the revenue we generate from our income property portfolio is concentrated in specific industry classifications and/or geographic locations and any prolonged dislocation in those industries or downturn in those geographic areas would adversely impact our results of operations and cash flows.
- Certain provisions of the Company’s leases may be unenforceable.
- We may not be able to dispose of properties we target for sale to recycle our capital.
- We may seek to conduct development activities, including the development of new income properties or the redevelopment or renovation of existing income properties, which may cause us to experience unexpected costs and have other risks that may adversely affect our financial condition, results of operations and liquidity.
- Management of and Investment in PINE
- Our revenues include receipt of management fees and potentially incentive fees derived from our provision of management services to PINE and the loss or failure, or decline in the business or assets, of PINE could substantially reduce our revenues.
- Our management agreement with PINE is subject to termination for events of default or non-performance, and any such termination could have a material adverse effect on our business, results of operations and financial condition.
- An internalization of PINE’s management functions could have a material adverse effect on our business, results of operations and financial condition.
- We may be unable to successfully operate PINE’s business.
- Declines in the market values of our investment in PINE may adversely affect periodic reported results.
- There are various potential conflicts of interest in our relationship with PINE, including our executive officers and/or directors who are also officers and/or directors of PINE, which could result in decisions that are not in the best interest of our stockholders.
- A part of our investment strategy is focused on investing in commercial loans and investments which may involve credit risk or the risk that our borrowers will fail to pay scheduled contractual payments to us when due.
- Our commercial loans and investments segment is also exposed to risks associated with real estate investments generally.
- Our origination or acquisition of construction loans exposes us to an increased risk of loss.
- Our investments in construction loans require us to make estimates about the fair value of land improvements that may be challenged by the Internal Revenue Service (“IRS”).
- Because of competition, we may not be able to originate or acquire commercial loans or similar financings at all or at favorable yields.
- Debt and preferred equity investments could cause us to incur expenses, which could adversely affect our results of operations.
- The mezzanine loan assets that we may acquire will involve greater risks of loss than senior loans secured by income-producing properties.
- We invest in fixed-rate loan investments, and an increase in interest rates may adversely affect the value of these investments, which could adversely impact our financial condition, results of operations and cash flows.
- The commercial loans or similar investments we have acquired and may acquire in the future that are secured by real estate typically depend on the ability of the property owner to generate income from operating the property. Failure to do so may result in delinquency and/or foreclosure.
- The activities or actions of a third-party servicer engaged to service our investment in a commercial loan or similar debt financing could adversely impact the value of our investment or our results of operations and cash flows.
- We may suffer losses when a borrower defaults on a loan and the value of the underlying collateral is less than the amount due.
- We could fail to continue to qualify as a REIT if the IRS successfully challenges our treatment of any mezzanine loans in which we invest.
- Other Investments
- Investments in securities of companies operating in the real estate industry, including debt and equity instruments such as corporate bonds, preferred or common stock, or convertible instruments could cause us to incur losses or other expenses which could adversely affect our financial position, results of operations, and cash flows.
- We are subject to a number of risks inherent with the real estate industry and in the ownership of real estate assets or investment in financings secured by real estate, which may adversely affect our returns from our investments, our financial condition, results of operations and cash flows.
- The Company’s real estate investments are generally illiquid.
- We may experience a decline in the fair value of our real estate assets or investments which could result in impairments and would impact our financial condition and results of operations.
- From time to time we make investments in companies over which we do not have control. Some of these companies may operate in industries that differ from our current operations, with different risks than investing in real estate.
- Quarterly results may fluctuate and may not be indicative of future quarterly performance.
- Risks related to Our Financing
- The Company may be unable to obtain debt or equity capital on favorable terms, if at all, or additional borrowings may impact our liquidity or ability to monetize any assets securing such borrowings.
- An increase in our borrowing costs would adversely affect our financial condition and results of operations.
- Servicing our debt requires a significant amount of cash, and we may not have sufficient cash flow from our business to service or pay our debt.
- Our level of indebtedness could have significant adverse consequences and our cash flow may be insufficient to meet our debt service obligations.
- We continue to have the ability to incur debt; if we incur substantial additional debt, the higher levels of debt may affect our ability to pay the interest and principal of our debt.
- Declines in the value of the assets in which we invest will adversely affect our financial condition and results of operations and make it costlier to finance these assets.
- We have in the past and expect to continue to utilize derivative instruments to hedge risk, which may adversely affect our borrowing cost and expose us to other risks.
- Increases in interest rates could have an adverse effect on our operating results.
- The Company’s Credit Facility and secured financings include certain financial and/or other covenants that could restrict our operating activities, and the failure to comply with such covenants could result in a default that accelerates the required payment of such debt.
- Risks Associated with Certain Events, Environmental Issues, and Climate Change
- Our operations and properties could be adversely affected in the event of natural disasters, pandemics, or other significant disruptions.
- Acts of violence, terrorist attacks or war may affect the markets in which the Company operates and adversely affect the Company’s results of operations and cash flows.
- We may encounter environmental problems which require remediation or the incurrence of significant costs to resolve, which could adversely impact our financial condition, results of operations, and cash flows.
- We are subject to certain risks associated with investing in real estate, including potential liabilities under environmental laws and risks of loss from weather conditions, man-made or natural disasters, climate change and terrorism.
- The Company’s operations and financial condition may be adversely affected by climate change, including possible changes in weather patterns, weather-related events, government policy, laws, regulations, and economic conditions.
- Risks Related to Our Organization and Structure
- Certain provisions of Maryland law could inhibit changes in control of our company.
- Our charter contains stock ownership limits, which may delay, defer or prevent a change of control.
- Our rights and the rights of our stockholders to take action against our directors and executive officers are limited,
- which could limit your recourse in the event of actions not in your best interest.
- Risks Related to Our Qualification and Operation as a REIT
- Failure to remain qualified as a REIT, would cause us to be taxed as a regular corporation, which would substantially reduce funds available for distributions to our stockholders.
- Even if we remain qualified as a REIT, we may face other tax liabilities that could reduce our cash flows and negatively impact our results of operations and financial condition.
- If we failed to distribute our Pre-REIT Conversion Earnings and Profits, we could fail to qualify as a REIT.
- Failure to make required distributions would subject us to U.S. federal corporate income tax.
- Complying with REIT requirements may cause us to forego otherwise attractive opportunities or liquidate otherwise attractive investments.
- Complying with REIT requirements may limit our ability to hedge our liabilities effectively and may cause us to incur tax liabilities.
- Our ability to provide certain services to our tenants may be limited by the REIT rules or may have to be provided through a TRS.
- The prohibited transactions tax may limit our ability to dispose of our properties.
- We may pay taxable dividends in our stock and cash, in which case stockholders may sell shares of our stock to pay tax on such dividends, placing downward pressure on the market price of our stock.
- The ability of the Board to revoke our REIT qualification without stockholder approval may cause adverse consequences to our stockholders.
- There are limits on our ownership of TRSs and our transactions with a TRS may cause us to be subject to a 100% penalty tax on certain income or deductions if those transactions are not conducted on arm’s-length terms.
- If a transaction intended to qualify as a Section 1031 like-kind exchange is later determined to be taxable, or if we are unable to identify and complete the acquisition of suitable replacement property to effect a Section 1031 like-kind exchange, we may face adverse consequences.
- If the provisions of Section 1031 were altered substantially or eliminated, our financial position, results of operations and cash flows could be adversely impacted.
- You may be restricted from acquiring or transferring certain amounts of our common stock.
- Dividends payable by REITs do not qualify for the reduced tax rates available for some dividends.
- We may be subject to adverse legislative or regulatory tax changes, in each instance with potentially retroactive effect, that could reduce the market price of our securities.
Legal proceedings
From time to time, the Company may be a party to certain legal proceedings, incidental to the normal course of its business. While the outcome of legal proceedings cannot be predicted with certainty, the Company is not currently a party to any pending or threatened legal proceedings that we believe could have a material adverse effect on the Company’s business or financial condition. See Note 22, “Commitments and Contingencies” in the notes to the consolidated financial statements in Item 8 for additional disclosure related to the Company’s legal proceedings.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 5
- 6
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- 8
- 9
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- 17SEC EDGARWilliam H. McMunn, Chair
- 18SEC EDGARBob D. Allen, Chair
- 19SEC EDGARPhilip Mays, Chief financial officer
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- 26
- 27SEC EDGARChristopher J. Drew, Board member
- 28SEC EDGARGeorge R. Brokaw, Board member
- 29SEC EDGARRobert Blakeslee Gable, Board member
- 30SEC EDGARCasey R. Wold, Board member
- 31SEC EDGARChristopher W. Haga, Board member
- 32SEC EDGARLaura M. Franklin, Board member
- 33SEC EDGARJohn P. Albright, Board member
- 34SEC EDGARHoward C. Serkin, Board member
- 35
- 36SEC EDGARThomas P. Warlow Iii., Board member
- 37SEC EDGARJeffry B. Fuqua, Board member
- 38SEC EDGARAllen C. Harper, Board member
- 39SEC EDGARWilliam L. Olivari, Board member
- 40SEC EDGARLinda Loomis Shelley, Board member
- 41SEC EDGARJames E. Jordan, Board member
- 42SEC EDGARWilliam H. Davison, Board member
- 43SEC EDGARBob D. Allen, Board member
- 44SEC EDGARJohn C. Myers Iii., Board member
- 45SEC EDGARWilliam J. Voges, Board member
- 46
- 47
- 48SEC EDGARShareholder vote
- 49SEC EDGAROther events
- 50
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- 52SEC EDGAREntered a material agreement
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- 55SEC EDGARRegulation FD disclosure
- 56
- 57SEC EDGARShareholder vote
- 58NasdaqNasdaq calendar
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