CTO Realty Growth Declares $0.38 Quarterly Dividend for Q1 2026
CTO Realty Growth, Inc. (NYSE: CTO), a retail-focused REIT, announced a quarterly cash dividend of $0.38 per common share for the first quarter of 2026. The board also authorized a $0.39844 dividend on its preferred stock.
CTO Realty Growth, Inc. (NYSE: CTO), a real estate investment trust focused on retail shopping centers, declared a quarterly cash dividend of $0.38 per common share for the first quarter of 2026. The dividend will be paid on March 31, 2026 to shareholders of record as of March 12, 2026. Read more dividend announcements.
The company's board of directors also authorized a quarterly dividend of $0.39844 per share on its 6.375% Series A Cumulative Redeemable Preferred Stock, payable on the same schedule.
| Dividend Details | Common Stock | Preferred Stock |
|---|---|---|
| Amount per Share | $0.38 | $0.39844 |
| Record Date | March 12, 2026 | March 12, 2026 |
| Payment Date | March 31, 2026 | March 31, 2026 |
| Frequency | Quarterly | Quarterly |
Recent Transaction Activity
During the fourth quarter of 2025, CTO sold the Shops at Legacy North in Dallas for $78.0 million at an exit cash cap rate in the low-5% range. For the full year 2025, the company disposed of two properties for $85.1 million, or $311 per square foot, generating aggregate gains of $20.9 million.
The company is under contract to acquire a 384,000 square foot shopping center in South Texas for $82.6 million.
Balance Sheet and Capital Allocation
As of December 31, 2025, CTO reported total liquidity of $167.1 million, consisting of $149.0 million in undrawn commitments and $18.1 million in cash. Total borrowings stood at $618.8 million at a weighted average interest rate of 4.3%, with $601.0 million in unsecured debt and a $17.8 million mortgage payable.
The company's net debt to pro forma adjusted EBITDA was 6.4 times. CTO's only debt maturity in 2026 is the $17.8 million mortgage note.
During 2025, CTO repurchased $9.3 million of common stock at a weighted average price of $16.27 per share, including $5.0 million repurchased in the fourth quarter at $16.26 per share.
2026 Outlook
CTO projects core funds from operations per diluted common share of $1.98 to $2.03 for 2026, with adjusted funds from operations per diluted share of $2.11 to $2.16. The company expects same-property net operating income growth for its shopping centers of 3.5% to 4.5%.
The outlook assumes investment volume of $100 million to $200 million at a weighted average initial cash yield between 8.0% and 8.5%, and general and administrative expenses of $19.5 million to $20.0 million.