CTO Realty Growth Completes $5 Million Share Repurchase Program and Board Approves New $10 Million Authorization

Rhea-AI Summary

CTO Realty Growth (NYSE:CTO) has announced a new $10 million common stock repurchase program, following the completion of its previous $5 million buyback initiative. The company successfully concluded its prior program, having repurchased approximately $4.3 million of common stock over the past 60 days.

The new authorization allows CTO to purchase shares through various methods, including open market transactions, block purchases, and privately negotiated transactions. The program provides flexibility with no specific share count requirement and can be modified or terminated at any time. CTO Realty Growth specializes in operating high-quality, open-air shopping centers in the Southeast and Southwest United States, while also managing Alpine Income Property Trust (NYSE: PINE).

Positive

• Completion of previous $4.3M stock repurchase program in just 60 days shows strong execution
• New larger $10M buyback authorization demonstrates board confidence and commitment to shareholder value
• Flexible repurchase terms allow company to optimize timing and method of share buybacks

Negative

• Company faces potential risks from inflation, interest rate volatility, and banking sector distress
• Exposure to retail sector vulnerabilities through shopping center portfolio
• Macroeconomic and geopolitical challenges could impact business performance

Insights

Financial Analyst

CTO doubled its share repurchase program to $10M after utilizing 86% of previous authorization, signaling management's confidence in company value.

CTO Realty Growth's announcement reveals a strategic capital allocation decision with the completion of their previous $5 million repurchase program and approval of a new $10 million authorization. The company deployed $4.3 million (86% of the authorized amount) over just 60 days, demonstrating both efficient execution and strong conviction in their repurchase strategy.

The doubled authorization size from $5M to $10M is particularly noteworthy, as it signals management's continued belief that shares represent good value at current market prices. For a REIT specializing in high-quality open-air shopping centers in growth markets (Southeast and Southwest US), this aggressive repurchasing activity likely indicates management sees a disconnect between share price and underlying property values.

Share repurchases are typically accretive to earnings per share and net asset value per share, as they reduce the outstanding share count. The flexible structure of the new program—allowing open market transactions, block purchases, and privately negotiated transactions—gives management multiple tools to optimize execution.

The program's implementation over the past two months coincides with a period of banking sector distress, interest rate volatility, and inflationary pressures (mentioned in their risk factors), suggesting management may be opportunistically buying during market uncertainty. While the $10 million authorization demonstrates confidence, investors should note that the program comes with standard caveats that it can be modified or terminated, with no obligation to repurchase any specific amount.

WINTER PARK, Fla., Sept. 24, 2025 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced the approval by its Board of Directors of a new $10 million common stock repurchase program. Additionally, the Company concluded its previous $5 million common stock repurchase program under which approximately $4.3 million of the Company’s common stock was repurchased over the past 60 days.

The new stock repurchase plan authorizes CTO to purchase up to $10 million of its common stock in open market transactions, including through block purchases, through privately negotiated transactions or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, subject to market conditions and other factors. The new program does not obligate the Company to repurchase any specific dollar amount or number of shares and may be modified, suspended, or terminated at any time.

About CTO Realty Growth, Inc.

CTO Realty Growth, Inc. owns and operates high-quality, open-air shopping centers located in the higher growth Southeast and Southwest markets of the United States. CTO also externally manages and owns a meaningful interest in Alpine Income Property Trust, Inc. (NYSE: PINE).

We encourage you to review our most recent investor presentation and supplemental financial information, which is available on our website at www.ctoreit.com.

Safe Harbor  

Certain statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can typically be identified by words such as “believe,” “estimate,” “expect,” “intend,” “anticipate,” “will,” “could,” “may,” “should,” “plan,” “potential,” “predict,” “forecast,” “project,” and similar expressions, as well as variations or negatives of these words. Statements, among others, relating to the amount, timing or nature of the Company’s repurchases of common stock are forward-looking statements.

Although forward-looking statements are made based upon management’s present expectations and beliefs concerning future developments and their potential effect on the Company, a number of factors could cause the Company’s actual results to differ materially from those set forth in the forward-looking statements. Such factors may include, but are not limited to: the Company’s ability to remain qualified as a REIT; the Company’s exposure to U.S. federal and state income tax law changes, including changes to common stock repurchase program its previous no caps; or, create defined term in above paragraph

the REIT requirements; general adverse economic and real estate conditions; macroeconomic and geopolitical factors, including but not limited to inflationary pressures, interest rate volatility, distress in the banking sector, global supply chain disruptions, and ongoing geopolitical war; credit risk associated with the Company investing in structured investments; the impact of epidemics or pandemics on the Company’s business and the businesses of its tenants or borrowers and the impact of such epidemics or pandemics on the U.S. economy and market conditions generally; the inability of major tenants or borrowers to continue paying their rent or obligations due to bankruptcy, insolvency or a general downturn in their businesses; the loss or failure or decline in the business or assets of PINE; the completion of 1031 exchange transactions; the availability of investment properties that meet the Company’s investment goals and criteria; the uncertainties associated with obtaining required governmental permits and satisfying other closing conditions for planned acquisitions and sales; and the uncertainties and risk factors discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and other risks and uncertainties discussed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. 

There can be no assurance that future developments will be in accordance with management’s expectations or that the effect of future developments on the Company will be those anticipated by management. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.

Contact:
Investor Relations
ir@ctoreit.com

FAQ

What is the size of CTO Realty Growth's new share repurchase program?

CTO Realty Growth's Board of Directors has approved a new $10 million common stock repurchase program.

How much did CTO repurchase under its previous buyback program?

CTO repurchased approximately $4.3 million of its common stock over the past 60 days under its previous $5 million program.

What types of properties does CTO Realty Growth own?

CTO owns and operates high-quality, open-air shopping centers located in the Southeast and Southwest markets of the United States.

How will CTO implement its new stock repurchase program?

CTO can purchase shares through open market transactions, block purchases, privately negotiated transactions, or trading plans under Rule 10b5-1, subject to market conditions.

What are the main risks facing CTO Realty Growth's business?

Key risks include inflationary pressures, interest rate volatility, banking sector distress, supply chain disruptions, and general adverse economic and real estate conditions.