CTO Realty Growth Business Summary

CTO Realty Growth, Inc. (NYSE: CTO) is a real estate investment trust (REIT) that specializes in the ownership and management of high-quality, retail-based properties, primarily located in high-growth Southeast and Southwest U.S. markets. The company generates revenue through a diversified stream consisting of rental income from its core shopping center portfolio—utilizing triple-net and grocery-anchored lease structures—and management fee income derived from its external management of Alpine Income Property Trust (NYSE: PINE). Its primary business segments include its income-producing real estate operations and its management services division, which leverages the firm's institutional platform to scale third-party assets. Direct competitors include Regency Centers Corporation, Federal Realty Investment Trust, Kite Realty Group, and American Assets Trust. Within this landscape, CTO positions itself as an opportunistic, mid-cap operator that prioritizes capital recycling and high-yield acquisitions in demographic-rich submarkets, distinguishing itself from larger peers through its agility and specialized Sunbelt focus. Originally founded in 1910 as Consolidated-Tomoka Land Co., the company underwent a strategic transformation into a pure-play REIT under the leadership of President and CEO John P. Albright, who joined in 2011 following senior roles at Archon Capital (a Goldman Sachs company) and Morgan Stanley. The executive team includes Senior Vice President and CFO Philip R. Mays, who brings extensive REIT experience from his previous roles at Federal Realty Investment Trust and Cedar Realty Trust, and Senior Vice President and CIO Steven R. Greathouse, formerly of N3 Real Estate and Morgan Stanley. The company’s governance is led by Board Chair Laura M. Franklin, a former executive at Washington REIT, alongside notable directors such as George R. Brokaw. CTO maintains strong institutional backing, with major shareholders including BlackRock, Vanguard, and State Street, reflecting market confidence in the team’s disciplined investment strategy and operational execution.