<p>CTO Realty Growth, Inc. 最近召開了財報電話會議，展望總體積極。公司展示了強勁的租賃活動和財務表現，這幫助抵消了某些空置和高昂的租户改善成本等挑戰。</p>
<h2>強勁的租賃活動</h2>
<p>CTO Realty Growth 報告稱，截至 9 月 30 日，年初至今完成了 482,000 平方英尺的整體租賃活動。這項活動包括 21.7% 的加權平均基礎租金差，突顯了公司獲得有利租賃條款的能力。</p>
<h2>在 Shops at Legacy 的重要租約</h2>
<p>一個顯著的發展是與一家共享辦公運營商在 Shops at Legacy 簽署了 30,000 平方英尺的租約。預計該租約將在 2026 年底之前填補之前由 WeWork 佔用的空間，標誌着公司租賃努力的重要里程碑。</p>
<h2>財務表現與指引上調</h2>
<p>CTO Realty Growth 報告稱，核心 FFO 在本季度上升至 1560 萬美元，較去年同期的 1260 萬美元有所增長。公司還將 2025 年的全年核心 FFO 指引上調至每股 1.84 至 1.87 美元的區間，反映出對其財務軌跡的信心。</p>
<h2>債務管理</h2>
<p>公司成功完成了 1.5 億美元的定期貸款融資，這有助於減少到期債務並增強流動性。CTO Realty Growth 在本季度末擁有 1.7 億美元的可用資金，為未來機會做好了良好準備。</p>
<h2>空置挑戰</h2>
<p>儘管租賃活動積極，CTO Realty Growth 在 Carolina Pavilion 面臨着顯著的空置挑戰，仍有 40,000 平方英尺未出租。公司在潛在租户方面經歷了多次失敗的嘗試，表明在這一領域仍然存在持續的障礙。</p>
<h2>租户改善津貼</h2>
<p>本季度租户改善津貼顯著增加，這一趨勢預計將在第四季度繼續，原因是主要租户的開業。這表明公司在提升租户空間以吸引和留住租户方面進行戰略投資。</p>
<h2>前瞻性指引</h2>
<p>展望未來，CTO Realty Growth 預計將繼續保持強勁的租賃活動，現金租賃差額在其空間中將達到 40% 至 60% 的積極水平。公司已將 2025 年的全年指引上調，新的核心 FFO 範圍為每稀釋股 1.84 至 1.87 美元，新的 AFFO 範圍為每稀釋股 1.96 至 1.99 美元，顯示出強勁的未來表現預期。</p>
<p>總之，CTO Realty Growth 的財報電話會議突顯了由強勁租賃活動和改善財務表現驅動的積極情緒。儘管仍面臨挑戰，特別是在空置和租户改善成本方面，但公司的戰略舉措和上調的指引表明未來前景樂觀。</p>

<p>CTO Realty Growth, Inc. 舉行了財報電話會議，展望積極，得益於強勁的租賃活動和改善的財務表現。公司截至目前完成了 482,000 平方英尺的租賃，其中在 Shops at Legacy 完成了一項 30,000 平方英尺的顯著租賃。核心 FFO 上升至 1560 萬美元，2025 年全年的指導目標提高至每股 1.84-1.87 美元。儘管面臨空置率和更高的租户改善成本的挑戰，公司對未來表現仍持樂觀態度，預計現金租賃差額為 40%-60%</p>

<p>CTO Realty Growth, Inc. recently held its earnings call, projecting a generally positive outlook. The company showcased strong leasing activity and financial performance, which helped to outweigh challenges such as certain vacancies and elevated tenant improvement costs.</p>
<div class="lb-trans"><p>CTO Realty Growth, Inc. 最近召開了財報電話會議，展望總體積極。公司展示了強勁的租賃活動和財務表現，這幫助抵消了某些空置和高昂的租户改善成本等挑戰。</p>
</div><h2>Strong Leasing Activity</h2>
<div class="lb-trans"><h2>強勁的租賃活動</h2>
</div><p>CTO Realty Growth reported impressive leasing activity, completing 482,000 square feet of overall leasing year-to-date through September 30. This activity included a weighted average base rent spread of 21.7%, highlighting the company’s ability to secure favorable leasing terms.</p>
<div class="lb-trans"><p>CTO Realty Growth 報告稱，截至 9 月 30 日，年初至今完成了 482,000 平方英尺的整體租賃活動。這項活動包括 21.7% 的加權平均基礎租金差，突顯了公司獲得有利租賃條款的能力。</p>
</div><h2>Significant Lease at Shops at Legacy</h2>
<div class="lb-trans"><h2>在 Shops at Legacy 的重要租約</h2>
</div><p>A notable development was the signing of a 30,000 square foot lease with a co-working operator at the Shops at Legacy. This lease is expected to fill the space formerly occupied by WeWork by the end of 2026, marking a significant milestone in the company’s leasing efforts.</p>
<div class="lb-trans"><p>一個顯著的發展是與一家共享辦公運營商在 Shops at Legacy 簽署了 30,000 平方英尺的租約。預計該租約將在 2026 年底之前填補之前由 WeWork 佔用的空間，標誌着公司租賃努力的重要里程碑。</p>
</div><h2>Financial Performance and Guidance Raised</h2>
<div class="lb-trans"><h2>財務表現與指引上調</h2>
</div><p>CTO Realty Growth reported a rise in Core FFO to $15.6 million for the quarter, up from $12.6 million in the previous year. The company has also raised its full-year 2025 core FFO guidance to a range of $1.84 to $1.87 per share, reflecting confidence in its financial trajectory.</p>
<div class="lb-trans"><p>CTO Realty Growth 報告稱，核心 FFO 在本季度上升至 1560 萬美元，較去年同期的 1260 萬美元有所增長。公司還將 2025 年的全年核心 FFO 指引上調至每股 1.84 至 1.87 美元的區間，反映出對其財務軌跡的信心。</p>
</div><h2>Debt Management</h2>
<div class="lb-trans"><h2>債務管理</h2>
</div><p>The company successfully closed $150 million in term loan financings, which has helped reduce maturing debt and enhance liquidity. CTO Realty Growth ended the quarter with $170 million available, positioning it well for future opportunities.</p>
<div class="lb-trans"><p>公司成功完成了 1.5 億美元的定期貸款融資，這有助於減少到期債務並增強流動性。CTO Realty Growth 在本季度末擁有 1.7 億美元的可用資金，為未來機會做好了良好準備。</p>
</div><h2>Vacancy Challenges</h2>
<div class="lb-trans"><h2>空置挑戰</h2>
</div><p>Despite the positive leasing activity, CTO Realty Growth faces challenges with significant vacancy at Carolina Pavilion, where 40,000 square feet remain unleased. The company has experienced false starts with prospective tenants, indicating ongoing hurdles in this area.</p>
<div class="lb-trans"><p>儘管租賃活動積極，CTO Realty Growth 在 Carolina Pavilion 面臨着顯著的空置挑戰，仍有 40,000 平方英尺未出租。公司在潛在租户方面經歷了多次失敗的嘗試，表明在這一領域仍然存在持續的障礙。</p>
</div><h2>Tenant Improvement Allowances</h2>
<div class="lb-trans"><h2>租户改善津貼</h2>
</div><p>Tenant improvement allowances were notably higher this quarter, a trend expected to continue into the fourth quarter due to anchor tenant openings. This indicates a strategic investment in enhancing tenant spaces to attract and retain lessees.</p>
<div class="lb-trans"><p>本季度租户改善津貼顯著增加，這一趨勢預計將在第四季度繼續，原因是主要租户的開業。這表明公司在提升租户空間以吸引和留住租户方面進行戰略投資。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指引</h2>
</div><p>Looking ahead, CTO Realty Growth anticipates continued robust leasing activity, with a positive cash leasing spread of 40% to 60% across its spaces. The company has raised its full-year 2025 guidance, with a new core FFO range of $1.84 to $1.87 per diluted share and a new AFFO range of $1.96 to $1.99 per diluted share, signaling strong future performance expectations.</p>
<div class="lb-trans"><p>展望未來，CTO Realty Growth 預計將繼續保持強勁的租賃活動，現金租賃差額在其空間中將達到 40% 至 60% 的積極水平。公司已將 2025 年的全年指引上調，新的核心 FFO 範圍為每稀釋股 1.84 至 1.87 美元，新的 AFFO 範圍為每稀釋股 1.96 至 1.99 美元，顯示出強勁的未來表現預期。</p>
</div><p>In summary, CTO Realty Growth’s earnings call highlighted a positive sentiment driven by strong leasing activity and improved financial performance. While challenges remain, particularly with vacancies and tenant improvement costs, the company’s strategic initiatives and raised guidance suggest a promising outlook for the future.</p>
<div class="lb-trans"><p>總之，CTO Realty Growth 的財報電話會議突顯了由強勁租賃活動和改善財務表現驅動的積極情緒。儘管仍面臨挑戰，特別是在空置和租户改善成本方面，但公司的戰略舉措和上調的指引表明未來前景樂觀。</p>
</div>

CTO Realty Growth 的財報電話會議亮點顯示出積極的前景