CTO Realty Growth Declares Dividends for the Third Quarter 2024
Rhea-AI Summary
CTO Realty Growth (NYSE: CTO) has declared dividends for Q3 2024. The company announced a quarterly cash dividend of $0.38 per share of common stock, representing an annualized yield of approximately 7.9% based on the closing price on August 19, 2024. This dividend is payable on September 30, 2024, to stockholders of record as of September 12, 2024.
Additionally, CTO declared a quarterly cash dividend of $0.39844 per share for its 6.375% Series A Cumulative Redeemable Preferred Stock, also payable on September 30, 2024. CTO Realty Growth is a publicly traded REIT focusing on high-quality, retail-based properties in high-growth U.S. markets. The company also manages and has a significant interest in Alpine Income Property Trust (NYSE: PINE).
Positive
- Declared quarterly cash dividend of $0.38 per share of common stock
- Annualized yield of approximately 7.9% based on recent closing price
- Declared quarterly cash dividend of $0.39844 per share for preferred stock
Negative
- None.
News Market Reaction
On the day this news was published, CTO declined 0.16%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
WINTER PARK, Fla., Aug. 20, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) announced today that its Board of Directors has authorized, and the Company has declared, a quarterly cash dividend of
The Common Stock Cash Dividend is payable on September 30, 2024, to stockholders of record as of the close of business on September 12, 2024, and the ex-dividend date for the Common Stock Cash Dividend is September 12, 2024.
The Board of Directors also authorized, and the Company has declared, a quarterly cash dividend of
About CTO Realty Growth, Inc.
CTO Realty Growth, Inc. is a publicly traded real estate investment trust that owns and operates a portfolio of high-quality, retail-based properties located primarily in higher growth markets in the United States. CTO also externally manages and owns a meaningful interest in Alpine Income Property Trust, Inc. (NYSE: PINE), a publicly traded net lease REIT.
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 (other than statements of historical fact) 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.
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 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 ultimate geographic spread, severity and duration of pandemics such as the COVID-19 Pandemic and its variants, actions that may be taken by governmental authorities to contain or address the impact of such pandemics, and the potential negative impacts of such pandemics on the global economy and the Company’s financial condition and results of operations; the inability of major tenants to continue paying their rent or obligations due to bankruptcy, insolvency or a general downturn in their business; 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, 2023 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: | Philip R. Mays Senior Vice President, Chief Financial Officer & Treasurer (407) 904-3324 pmays@ctoreit.com |
FAQ
What is CTO Realty Growth's Q3 2024 dividend amount for common stock?
When is the ex-dividend date for CTO's Q3 2024 common stock dividend?
What is the annualized yield of CTO's common stock dividend based on recent price?
What is CTO Realty Growth's Q3 2024 dividend for its preferred stock?
