CTO Realty Growth Reports Second Quarter 2021 Operating Results marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.
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(1) See the “Non-GAAP Financial Measures” section and tables at the end of this press release for a discussion and reconciliation of Net Income to non-GAAP financial measures, including FFO, FFO per diluted share, AFFO and AFFO per diluted share.
The Company’s quarter-over-quarter comparison of per share data was impacted by the issuance of 1.2 million shares of common stock which was issued in December of 2020 in connection with the Company’s special distribution, as required in connection with the Company’s election to be taxable as a REIT. Additionally, the Company’s net loss for three months ended March 31, 2020 included an income tax benefit of $4.1 million, or $0.87 per diluted share, as the Company’s REIT conversion became effective in the statements of operations during the three months ended December 31, 2020. Net income for the three months ended March 31, 2021 includes $0.7 million, or $0.12 per diluted share, from gains on dispositions of income-produ
Select Highlights Announced successful completion of the Company s real estate investment trust ( REIT ) conversion and payment of the previously declared special distribution on the Company s shares of common stock through an aggregate of $5.6 million in cash and the issuance of 1,198,963 shares of the Company s common stock. Reported Net Income per diluted share of $16.60 and $16.69 for the quarter and year ended December 31, 2020, respectively. Reported FFO per diluted share of $2.11 and $5.84 for the quarter and year ended December 31, 2020, respectively. Reported AFFO per diluted share of $2.20 and $5.57 for the quarter and year ended December 31, 2020, respectively. Paid a regular cash dividend for the fourth quarter of 2020 of $1.00 per share on November 30, 2020 to shareholders of record as of November 16, 2020.