WINTER PARK, Fla. (AP) — WINTER PARK, Fla. (AP) — CTO Realty Growth, Inc. (CTO) on Tuesday reported a key measure of profitability in its third quarter.
The Winter Park, Florida-based real estate investment trust said it had funds from operations of $16.3 million, or 50 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 $1 million, or 3 cents per share.
The real estate company, based in Winter Park, Florida, posted revenue of $37.8 million in the period.
CTO Realty expects full-year funds from operations in the range of $1.96 to $1.99 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CTO at https://www.zacks.com/ap/CTO
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