Key insights
- CTO Realty Growth expands its at-the-market (ATM) offering programs by adding Cantor Fitzgerald and Huntington Securities as sales agents. This allows CTO to issue up to $25M in preferred stock and $250M in common stock. While the 7.72% dividend yield and 51-year dividend history may attract investors, the increased share issuance could dilute existing shareholders, creating slight downward pressure on the stock.
CTO Realty Growth, Inc. (NYSE:CTO, NYSE:CTO-PA) announced Wednesday that it has entered into new equity distribution agreements with Cantor Fitzgerald & Co. and Huntington Securities, Inc. These agreements add Cantor and Huntington as sales agents for the company’s ongoing at-the-market (ATM) offering programs for both its 6.375% Series A Cumulative Redeemable Preferred Stock and its common stock.
According to a statement in the SEC filing, the preferred stock ATM program allows CTO Realty Growth to issue and sell up to $25 million of its Series A Preferred Shares, each with a liquidation preference of $25. The common stock ATM program permits the company to issue and sell up to $250 million of common shares. Notably, CTO offers investors a dividend yield of 7.72% and has maintained dividend payments for 51 consecutive years, according to InvestingPro data—a track record that may support demand for the preferred stock offering.
The company also amended existing equity distribution agreements with A.G.P./Alliance Global Partners, B. Riley Securities, Robert W. Baird & Co., Jefferies LLC, JonesTrading Institutional Services, Raymond James & Associates, Truist Securities, KeyBanc Capital Markets, Lucid Capital Markets, Regions Securities, and Wells Fargo Securities. The amendments update these agreements to reflect the participation of Cantor and Huntington as additional sales agents, forward sellers, and forward purchasers in the ATM programs.
The equity distribution agreements and amendments are attached as exhibits to the company’s Form 8-K filed with the Securities and Exchange Commission.
This article is based on a statement from CTO Realty Growth’s SEC filing.
In other recent news, CTO Realty Growth Inc. reported a notable earnings beat for the first quarter of 2026. The company achieved earnings per share of $0.13, significantly surpassing the forecasted $0.01, which marks a 1200% surprise. Additionally, revenue exceeded expectations, reaching $41.17 million compared to the anticipated $38.89 million, a surprise of 5.86%. These results highlight the company’s strong performance in the recent quarter. The earnings and revenue figures are crucial for investors as they provide insight into the company’s financial health. Although the stock price movement is not discussed here, the earnings results reflect positive investor sentiment. These developments are part of the recent activities surrounding CTO Realty Growth.
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