CTO Realty Growth (CTO)
Market Price (2/3/2026): $17.76 | Market Cap: $579.9 MilSector: Real Estate | Industry: Diversified REITs
CTO Realty Growth (CTO)
Market Price (2/3/2026): $17.76Market Cap: $579.9 MilSector: Real EstateIndustry: Diversified REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 24% | Weak multi-year price returns2Y Excs Rtn is -18%, 3Y Excs Rtn is -52% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 99% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 55%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 55% | Key risksCTO key risks include [1] allegations of securities fraud involving the manipulation of financial metrics and use of sham loans to conceal distress, Show more. | |
| Attractive yieldDividend Yield is 8.4%, FCF Yield is 14% | ||
| Low stock price volatilityVol 12M is 22% | ||
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, Sustainable & Green Buildings, and Smart Buildings & Proptech. Themes include Experiential Retail, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 24% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 55%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 55% |
| Attractive yieldDividend Yield is 8.4%, FCF Yield is 14% |
| Low stock price volatilityVol 12M is 22% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, Sustainable & Green Buildings, and Smart Buildings & Proptech. Themes include Experiential Retail, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -18%, 3Y Excs Rtn is -52% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 99% |
| Key risksCTO key risks include [1] allegations of securities fraud involving the manipulation of financial metrics and use of sham loans to conceal distress, Show more. |
Qualitative Assessment
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CTO Realty Growth (CTO) stock has gained about 10% since 10/31/2025 because of the following key factors:
1. Strategic Acquisitions and High-Yield Investments
CTO Realty Growth enhanced its portfolio through strategic acquisitions and structured investments in 2025, details of which were rolled out in January 2026. The company acquired two shopping centers in high-growth areas for $144.9 million, achieving a weighted average initial cash yield of 8.7%. Additionally, it made $21.0 million in structured investments, indicating a proactive approach to expanding its income-producing assets.
2. Consistent and Attractive Dividend Payouts
The company continued to appeal to income-focused investors by declaring a consistent quarterly common dividend of $0.38 per share for the fourth quarter of 2025 on November 18, 2025. This dividend, payable on December 31, 2025, implied an annualized yield of approximately 8.8% based on the stock's closing price on November 17, 2025, reinforcing its commitment to shareholder returns.
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1. Strategic Acquisitions and High-Yield Investments
CTO Realty Growth enhanced its portfolio through strategic acquisitions and structured investments in 2025, details of which were rolled out in January 2026. The company acquired two shopping centers in high-growth areas for $144.9 million, achieving a weighted average initial cash yield of 8.7%. Additionally, it made $21.0 million in structured investments, indicating a proactive approach to expanding its income-producing assets.
2. Consistent and Attractive Dividend Payouts
The company continued to appeal to income-focused investors by declaring a consistent quarterly common dividend of $0.38 per share for the fourth quarter of 2025 on November 18, 2025. This dividend, payable on December 31, 2025, implied an annualized yield of approximately 8.8% based on the stock's closing price on November 17, 2025, reinforcing its commitment to shareholder returns.
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Stock Movement Drivers
Fundamental Drivers
The 8.8% change in CTO stock from 10/31/2025 to 2/2/2026 was primarily driven by a 8.8% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 16.33 | 17.77 | 8.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 147 | 147 | 0.0% |
| P/S Multiple | 3.6 | 3.9 | 8.8% |
| Shares Outstanding (Mil) | 33 | 33 | 0.0% |
| Cumulative Contribution | 8.8% |
Market Drivers
10/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| CTO | 8.8% | |
| Market (SPY) | 2.0% | -0.5% |
| Sector (XLRE) | 0.1% | 36.8% |
Fundamental Drivers
The 12.4% change in CTO stock from 7/31/2025 to 2/2/2026 was primarily driven by a 7.8% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.80 | 17.77 | 12.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 141 | 147 | 4.2% |
| P/S Multiple | 3.7 | 3.9 | 7.8% |
| Shares Outstanding (Mil) | 33 | 33 | 0.1% |
| Cumulative Contribution | 12.4% |
Market Drivers
7/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| CTO | 12.4% | |
| Market (SPY) | 10.3% | 16.1% |
| Sector (XLRE) | -0.3% | 41.3% |
Fundamental Drivers
The -1.5% change in CTO stock from 1/31/2025 to 2/2/2026 was primarily driven by a -22.1% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 1312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.04 | 17.77 | -1.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 119 | 147 | 23.8% |
| P/S Multiple | 3.9 | 3.9 | 2.1% |
| Shares Outstanding (Mil) | 25 | 33 | -22.1% |
| Cumulative Contribution | -1.5% |
Market Drivers
1/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| CTO | -1.5% | |
| Market (SPY) | 16.6% | 39.6% |
| Sector (XLRE) | 1.2% | 60.6% |
Fundamental Drivers
The 17.0% change in CTO stock from 1/31/2023 to 2/2/2026 was primarily driven by a 73.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312023 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.19 | 17.77 | 17.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 84 | 147 | 73.9% |
| P/S Multiple | 3.3 | 3.9 | 19.5% |
| Shares Outstanding (Mil) | 18 | 33 | -43.7% |
| Cumulative Contribution | 17.0% |
Market Drivers
1/31/2023 to 2/2/2026| Return | Correlation | |
|---|---|---|
| CTO | 17.0% | |
| Market (SPY) | 77.5% | 36.6% |
| Sector (XLRE) | 10.7% | 59.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CTO Return | 57% | -4% | 4% | 24% | 2% | -3% | 89% |
| Peers Return | 51% | -18% | -1% | 16% | -0% | 6% | 50% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 85% |
Monthly Win Rates [3] | |||||||
| CTO Win Rate | 58% | 50% | 58% | 75% | 50% | 0% | |
| Peers Win Rate | 70% | 38% | 43% | 55% | 53% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| CTO Max Drawdown | -1% | -10% | -11% | -7% | -18% | -6% | |
| Peers Max Drawdown | -5% | -31% | -22% | -11% | -15% | -0% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: WPC, ALEX, GOOD, OLP, EPRT.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/2/2026 (YTD)
How Low Can It Go
| Event | CTO | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -29.8% | -25.4% |
| % Gain to Breakeven | 42.5% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -46.7% | -33.9% |
| % Gain to Breakeven | 87.5% | 51.3% |
| Time to Breakeven | 602 days | 148 days |
| 2018 Correction | ||
| % Loss | -26.4% | -19.8% |
| % Gain to Breakeven | 35.8% | 24.7% |
| Time to Breakeven | 261 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -72.7% | -56.8% |
| % Gain to Breakeven | 266.8% | 131.3% |
| Time to Breakeven | Not Fully Recovered days | 1,480 days |
Compare to WPC, ALEX, GOOD, OLP, EPRT
In The Past
CTO Realty Growth's stock fell -29.8% during the 2022 Inflation Shock from a high on 8/12/2022. A -29.8% loss requires a 42.5% gain to breakeven.
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About CTO Realty Growth (CTO)
CTO Realty Growth, Inc. is a Florida-based publicly traded real estate company, which owns income properties comprised of approximately 2.4 million square feet in diversified markets in the United States and an approximately 23.5% interest in Alpine Income Property Trust, Inc., a publicly traded net lease real estate investment trust (NYSE: PINE).
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A smaller, Southern U.S.-focused version of a major retail REIT like Kimco Realty (KIM) or Regency Centers (REG).
Like Realty Income (O), but specializing in multi-tenant shopping centers and mixed-use properties primarily in the Southern U.S.
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- Commercial Property Leasing: CTO Realty Growth provides leasable space in its portfolio of retail, office, and mixed-use properties to various tenants.
- Real Estate Portfolio Management: The company manages its diversified portfolio of income-producing commercial properties to optimize performance, enhance tenant experience, and maximize asset value.
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CTO Realty Growth (CTO) is a real estate investment trust (REIT) that owns and operates a diversified portfolio of income-producing properties, primarily retail, office, and mixed-use assets. As such, the company sells primarily to other companies, which are its tenants.
Based on their latest investor presentations and financial reports (as of Q1 2024 supplemental information), the major customers (tenants by Annualized Base Rent) of CTO Realty Growth include:
- Publix Super Markets (Private)
- Whole Foods Market (Owned by Amazon - AMZN)
- The Fresh Market (Private)
- Lowe's Home Centers (LOW)
- HomeGoods / Marshalls (Owned by The TJX Companies - TJX)
- T.J. Maxx (Owned by The TJX Companies - TJX)
- AMC Theatres (AMC)
- First Watch Restaurants (FWRG)
- Trader Joe's (Private)
- PetSmart (Private)
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John P. Albright
President and Chief Executive Officer
Mr. Albright joined CTO Realty Growth in August 2011 as President and Chief Executive Officer. Previously, he was the Managing Director of Archon Capital, a Goldman Sachs Company, where he focused on investing on behalf of the Goldman Sachs Real Estate Mezzanine Partners Fund. Before his time at Archon, Mr. Albright held similar positions with Morgan Stanley and Crescent Real Estate Equities. He holds a BA degree in Business Administration from Southern Methodist University.
Philip R. Mays
Senior Vice President, Chief Financial Officer and Treasurer
Mr. Mays joined CTO Realty Growth in June 2024 as Senior Vice President, Chief Financial Officer, and Treasurer. He most recently served as Chief Financial Officer of Shadowbox Studios. Prior to that, he was Chief Financial Officer and Executive Vice President of Cedar Realty Trust, Inc., a NYSE-listed retail real estate investment trust, from June 2011 to September 2021. His departure from Cedar coincided with the company's exploration of strategic alternatives and preceded the announcement of its sale. Before Cedar Realty Trust, Mr. Mays was the Chief Accounting Officer and Vice President of Finance of Federal Realty Investment Trust. He began his career at Ernst & Young LLP, where he supervised audits and assisted clients in real estate, construction, and hospitality, including public REITs. Mr. Mays received his Bachelor of Science in Accounting and Finance from Jacksonville University and is a member of the American Institute of Certified Public Accountants.
Steven R. Greathouse
Chief Investment Officer
Mr. Greathouse joined CTO Realty Growth in January 2012. He is responsible for the acquisition and disposition of income-producing properties and other investment opportunities for the Company. Prior to joining CTO, he was the Director of Finance at N3 Real Estate, a single-tenant triple net property developer. Before N3, he was a Senior Associate at Morgan Stanley and Crescent Real Estate Equities, where he was involved in mezzanine loan investments. He earned his undergraduate degree and Masters in Business Administration from Texas Christian University.
Lisa M. Vorakoun
Senior Vice President and Chief Accounting Officer
Ms. Vorakoun has served as CTO Realty Growth's Senior Vice President and Chief Accounting Officer since July 2017. She initially joined the Company in 2013 as its Controller, managing the accounting and tax functions. Ms. Vorakoun began her career at James Moore & Co., a regional accounting and consulting firm. She received her Bachelor of Science degree and Masters of Accounting from Florida State University and is a member of the AICPA and FICPA.
Daniel E. Smith
Senior Vice President and General Counsel
Mr. Smith joined CTO Realty Growth in 2014 and serves as the Company's general counsel and corporate secretary. Before joining CTO, he was Vice President-Hospitality and Vice President and Associate General Counsel at Goldman Sachs & Co. Prior to that, he spent ten years at Crescent Real Estate Equities, Ltd., where he held several positions, including Senior Vice President and General Counsel. Mr. Smith began his legal career at the Dallas law firm Hughes & Luce. He received his J.D. and LL. M. degrees from Duke University School of Law and his B.A. degree from Brigham Young University.
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The key risks to CTO Realty Growth (CTO) primarily revolve around allegations of financial misrepresentation and the associated impact on its financial stability and investor confidence.
- Securities Fraud Allegations and Governance Risks: CTO Realty Growth is facing multiple securities fraud allegations, investigations, and class-action lawsuits from various law firms, including The Schall Law Firm, Pomerantz LLP, Hagens Berman, and The Law Offices of Frank R. Cruz. These allegations, notably highlighted by a June 2025 report from Wolfpack Research, include claims of dividend overpayment, manipulation of Adjusted Funds From Operations (AFFO) by excluding recurring capital expenditures, and the use of "sham loans" to conceal financial distress, such as a top tenant's bankruptcy at its Ashford Lane property. Such claims suggest systemic issues in financial disclosures and governance practices, risking investor trust, legal action, and potential significant market value loss.
- Financial Health, Debt, and Liquidity Risks: The company faces significant financial challenges, particularly in a high-interest-rate environment, which impacts its cost of capital and the sustainability of its dividend. CTO Realty Growth has experienced a notable drop in net income, primarily due to increased interest expenses. Concerns persist regarding the company's unprofitability, with widening losses over the past five years, and high leverage, indicated by a 6.9x EBITDA ratio. Allegations also suggest the company has paid out more in dividends than its cash flow from operations, resorting to increasing its share count, thereby diluting existing shareholders, to bridge liquidity gaps. This raises questions about the long-term sustainability of its dividend model and its ability to manage debt if market conditions worsen or refinancing becomes difficult.
- Regional Economic Slowdown and Asset Vulnerability: While CTO Realty Growth has strategically focused on properties in faster-growing Sunbelt markets, a shift in migration patterns or a regional economic slowdown could render its asset base vulnerable. Such a scenario could lead to increased property vacancies for extended periods, directly impacting rental income and potentially pressuring dividend levels. Furthermore, execution risks, such as delays in re-leasing major anchor spaces, could further strain the company's margins and hinder its ability to reduce its debt burden.
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CTO Realty Growth (symbol: CTO) primarily operates as a real estate investment trust (REIT) focused on acquiring, owning, and managing high-quality, income-producing retail properties in high-growth markets, predominantly in the Sun Belt region of the United States. While their portfolio largely consists of multi-tenant retail assets, they also have some office properties and engage in services such as land development, property management, real estate management, and subsurface interest leasing. Here are the addressable market sizes for their main products and services within the United States:U.S. Commercial Real Estate Market
The overall United States commercial real estate market size is estimated at approximately $1.70 trillion in 2025. Another estimate valued the U.S. commercial real estate market at $718.2 billion in 2024, with projections to reach $991.7 billion by 2033. Additionally, the Federal Reserve reported that the commercial real estate sector in the U.S. stood at a total asset value of $22.5 trillion in the fourth quarter of 2023.U.S. Multi-Tenant Retail Real Estate Market
For multi-tenant retail properties, which are a core focus for CTO Realty Growth, investment sales in the United States reached $13.1 billion in the first quarter of 2025. This figure reflects strong investor confidence in necessity-based and lifestyle centers. In the second quarter of 2025, multi-tenant retail sales volume was $12.1 billion.U.S. Office Real Estate Market
The United States office real estate market size is estimated at approximately $369.58 billion in 2025, with projections to reach $436.81 billion by 2030.Other Products/Services
For specific market sizes related to land development, property management services (as a standalone segment), and subsurface interest leasing, explicit addressable market sizes are currently unavailable.AI Analysis | Feedback
CTO Realty Growth (CTO) is expected to drive future revenue growth over the next two to three years through several key strategies:
- Strategic Acquisitions of Income-Producing Properties: The company consistently focuses on acquiring high-quality retail properties, particularly in fast-growing Sun Belt markets such as Florida, Georgia, and Texas. CTO has a history of significant investment activity, including a $191.3 million investment in Q3 2024 and an increased investment guidance of $300 million to $350 million for 2024, which is expected to continue contributing to revenue growth.
- Robust Leasing Activity and Positive Rent Spreads: CTO has demonstrated strong leasing momentum, signing new leases, renewals, and extensions at substantially higher rents. For instance, the company achieved impressive leasing spreads of 22% on comparable leases in Q2 2025 and 21.7% in Q3 2025, with projections of 40% to 60% for major anchor tenant renewals. This is further supported by a "signed-not-open" (SNO) pipeline, which represents future annual cash base rent from leases already executed but not yet commenced, providing a clear tailwind for upcoming revenue.
- Organic Growth from Existing Portfolio (Same-Property Net Operating Income): The company anticipates continued growth from its existing portfolio through increases in same-property Net Operating Income (NOI). CTO reported a same-property NOI growth of 0.9% in Q2 2025 and 2.3% in Q3 2025, driven by improved occupancy rates and rental rate escalations within its stabilized assets.
- Growth in Commercial Loans and Investments & Management Fees: Beyond its core property income, CTO also generates revenue from commercial loans and investments, which saw a significant increase of 95% year-over-year in Q3 2025, and management services income. These diversified streams, while secondary to real estate operations, contribute to overall revenue expansion.
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Share Repurchases
- CTO Realty Growth approved a new $10 million common stock repurchase program in September 2025, following the completion of a previous $5 million program where approximately $4.3 million of stock was repurchased.
- During the three months ended September 30, 2025, the company repurchased $4.3 million of common stock, and an additional $5.0 million was repurchased under the new $10.0 million program through October 28, 2025, totaling $9.3 million.
- In 2023, the company repurchased 369,300 shares of common stock at an average price of $16.35 per share and 21,192 shares of Series A Preferred Stock at an average price of $18.45 per share.
Share Issuance
- In 2024, CTO Realty Growth raised net proceeds of $165.2 million by issuing 8,922,793 common shares through its ATM offering program.
- During the first half of 2025, the company issued 1,089,555 shares of common stock in privately-negotiated transactions to settle $35.2 million in aggregate principal amount of 2025 Notes, along with cash payments.
- In 2022, the company issued 5,016,026 shares of common stock through a follow-on equity offering and ATM offering program for total net proceeds of $95.3 million.
Outbound Investments
- CTO Realty Growth's investments totaled $330.8 million in 2024, including property acquisitions and structured investments. In the same year, the company sold two properties for $38.0 million.
- In 2023, the company invested $80.0 million into four retail property acquisitions and one land parcel, and originated two structured investments totaling $30.4 million. It also sold nine income properties for $87.1 million.
- In 2022, the company invested a record $314.0 million into five mixed-use or retail property acquisitions and originated structured investments totaling $59.2 million. Six income properties were sold for $81.1 million during this period.
Capital Expenditures
- Management's top capital allocation priority is developing and acquiring high-quality properties that offer opportunities for long-term cash flow growth, with guidance for investments of $150 million to $200 million in 2025.
- The company is focusing on enhancing its existing portfolio through initiatives such as leasing spaces at higher rents to creditworthy tenants and pursuing an anchor repositioning strategy.
- Efforts are also being made to bring more property management in-house, aiming for cost savings and improved service.
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 21.24 |
| Mkt Cap | 1.0 |
| Rev LTM | 187 |
| Op Inc LTM | 63 |
| FCF LTM | 88 |
| FCF 3Y Avg | 66 |
| CFO LTM | 93 |
| CFO 3Y Avg | 77 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.6% |
| Rev Chg 3Y Avg | 9.2% |
| Rev Chg Q | 7.8% |
| QoQ Delta Rev Chg LTM | 1.9% |
| Op Mgn LTM | 35.4% |
| Op Mgn 3Y Avg | 35.8% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 58.3% |
| CFO/Rev 3Y Avg | 49.3% |
| FCF/Rev LTM | 58.3% |
| FCF/Rev 3Y Avg | 49.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 1.0 |
| P/S | 5.8 |
| P/EBIT | 12.3 |
| P/E | 22.7 |
| P/CFO | 11.0 |
| Total Yield | 7.3% |
| Dividend Yield | 4.5% |
| FCF Yield 3Y Avg | 9.9% |
| D/E | 0.8 |
| Net D/E | 0.8 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 2.9% |
| 3M Rtn | 6.3% |
| 6M Rtn | 3.7% |
| 12M Rtn | -2.0% |
| 3Y Rtn | 13.8% |
| 1M Excs Rtn | 2.0% |
| 3M Excs Rtn | 5.1% |
| 6M Excs Rtn | -6.5% |
| 12M Excs Rtn | -16.8% |
| 3Y Excs Rtn | -53.2% |
Segment Financials
Assets by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Income Properties | 887 | 902 | 631 | 531 | 464 |
| Interest Income From Commercial Loans and Investments | 62 | 32 | 38 | 36 | |
| Corporate and Other | 36 | 46 | 35 | 36 | 136 |
| Real Estate Operations | 2 | 4 | 27 | 60 | 66 |
| Management Services | 1 | 1 | 2 | 1 | 0 |
| Commercial Loans and Investments | 39 | ||||
| Discontinued Real Estate Operations | 1 | 1 | |||
| Total | 990 | 987 | 733 | 667 | 703 |
Price Behavior
Price Behavior
| Market Price | $17.77 | |
| Market Cap ($ Bil) | 0.6 | |
| First Trading Date | 09/08/1992 | |
| Distance from 52W High | -6.5% | |
| 50 Days | 200 Days | |
| DMA Price | $17.92 | $16.84 |
| DMA Trend | indeterminate | up |
| Distance from DMA | -0.8% | 5.5% |
| 3M | 1YR | |
| Volatility | 18.2% | 22.5% |
| Downside Capture | -33.13 | 49.38 |
| Upside Capture | 11.30 | 39.98 |
| Correlation (SPY) | -0.2% | 39.5% |
CTO Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.09 | -0.29 | -0.01 | 0.26 | 0.46 | 0.53 |
| Up Beta | -1.28 | -1.00 | -0.05 | 0.79 | 0.46 | 0.44 |
| Down Beta | 0.78 | 0.29 | 0.18 | 0.20 | 0.48 | 0.61 |
| Up Capture | -48% | -38% | 18% | 24% | 29% | 21% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 8 | 23 | 35 | 68 | 132 | 399 |
| Down Capture | 27% | -65% | -37% | -6% | 59% | 80% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 12 | 18 | 25 | 55 | 112 | 337 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CTO | |
|---|---|---|---|---|
| CTO | -1.1% | 22.4% | -0.13 | - |
| Sector ETF (XLRE) | 1.0% | 16.3% | -0.12 | 60.6% |
| Equity (SPY) | 16.0% | 19.2% | 0.64 | 39.5% |
| Gold (GLD) | 66.9% | 23.7% | 2.11 | -2.4% |
| Commodities (DBC) | 7.0% | 16.3% | 0.23 | 13.4% |
| Real Estate (VNQ) | 2.9% | 16.5% | -0.00 | 63.6% |
| Bitcoin (BTCUSD) | -19.7% | 39.9% | -0.46 | 13.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CTO | |
|---|---|---|---|---|
| CTO | 12.7% | 23.9% | 0.48 | - |
| Sector ETF (XLRE) | 5.0% | 19.0% | 0.17 | 54.9% |
| Equity (SPY) | 14.1% | 17.1% | 0.66 | 40.8% |
| Gold (GLD) | 19.9% | 16.6% | 0.97 | 5.0% |
| Commodities (DBC) | 11.4% | 18.9% | 0.49 | 11.2% |
| Real Estate (VNQ) | 4.5% | 18.8% | 0.15 | 58.4% |
| Bitcoin (BTCUSD) | 20.9% | 57.6% | 0.56 | 18.5% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CTO | |
|---|---|---|---|---|
| CTO | 9.2% | 27.1% | 0.36 | - |
| Sector ETF (XLRE) | 6.8% | 20.5% | 0.29 | 48.0% |
| Equity (SPY) | 15.9% | 17.9% | 0.76 | 44.4% |
| Gold (GLD) | 15.0% | 15.3% | 0.81 | 2.4% |
| Commodities (DBC) | 8.3% | 17.6% | 0.39 | 18.0% |
| Real Estate (VNQ) | 5.8% | 20.8% | 0.25 | 51.8% |
| Bitcoin (BTCUSD) | 71.1% | 66.4% | 1.10 | 14.5% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/28/2025 | 1.3% | 4.3% | 11.0% |
| 7/29/2025 | -6.8% | -6.0% | -2.3% |
| 5/1/2025 | 0.2% | -2.4% | 1.8% |
| 2/20/2025 | -5.9% | -7.5% | -4.7% |
| 10/24/2024 | -0.8% | -1.9% | 0.5% |
| 7/25/2024 | 3.3% | 5.7% | -0.4% |
| 5/2/2024 | -2.6% | -1.3% | 2.2% |
| 2/22/2024 | 3.7% | 2.7% | 3.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 11 | 14 |
| # Negative | 12 | 9 | 6 |
| Median Positive | 1.6% | 4.7% | 3.1% |
| Median Negative | -2.1% | -2.6% | -2.3% |
| Max Positive | 3.7% | 7.2% | 19.1% |
| Max Negative | -6.8% | -7.5% | -10.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 10/28/2025 | 10-Q |
| 06/30/2025 | 07/29/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/20/2025 | 10-K |
| 09/30/2024 | 10/24/2024 | 10-Q |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| 06/30/2022 | 07/28/2022 | 10-Q |
| 03/31/2022 | 04/28/2022 | 10-Q |
| 12/31/2021 | 02/24/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Albright, John P | PRESIDENT & CEO | Direct | Buy | 9162025 | 16.38 | 2,000 | 32,760 | 10,393,880 | Form |
| 2 | Vorakoun, Lisa | SVP & CHIEF ACCOUNTING OFFICER | Direct | Buy | 9122025 | 16.59 | 750 | 12,446 | 775,966 | Form |
| 3 | Greathouse, Steven Robert | SVP & CHIEF INVESTMENT OFFICER | Direct | Buy | 9122025 | 16.70 | 600 | 10,020 | 3,087,646 | Form |
| 4 | Mays, Philip | SVP, CFO & Treasurer | Direct | Buy | 9112025 | 16.61 | 1,000 | 16,607 | 246,460 | Form |
| 5 | Smith, Daniel Earl | SVP, GEN COUNSEL & CORP SECRET | Direct | Buy | 9112025 | 16.50 | 1,000 | 16,500 | 3,209,184 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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