WINTER PARK, Fla. (AP) — WINTER PARK, Fla. (AP) — CTO Realty Growth, Inc. (CTO) on Thursday reported a key measure of profitability in its fourth quarter.
The Winter Park, Florida-based real estate investment trust said it had funds from operations of $7.4 million, or 37 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $4.3 million, or 21 cents per share.
The real estate company, based in Winter Park, Florida, posted revenue of $22.5 million in the period.
For the year, the company reported funds from operations of $33.9 million. Revenue was reported as $82.3 million.
CTO Realty expects full-year funds from operations in the range of $1.64 to $1.69 per share.
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