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 $16.4 million, or 51 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 net income of $26.5 million, or 82 cents per share.
The real estate company, based in Winter Park, Florida, posted revenue of $38.3 million in the period.
For the year, the company reported funds from operations of $63.6 million. Revenue was reported as $149.5 million.
CTO Realty expects full-year funds from operations in the range of $2.11 to $2.16 per share.
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