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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sun, August 14, 9:07 PM
| This Slide: #39 of 582 |
Slide #39. CTO Realty Growth — Preferred Stock Offering
Company:
CTO Realty Growth (NYSE:CTO)
Date announced:
6/28/2021
Shares Offered:
3,000,000
Date of Pricing:
6/28/2021
Price Per Share:
$25.00
Preferred Stock Offering Details:
CTO Realty Growth (NYSE: CTO) ("CTO" or the "Company") today announced the launch of a public offering of shares of its Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") with a $25.00 per share liquidation preference. CTO intends to use the net proceeds from the offering for general corporate and working capital purposes, which may include property acquisitions and repayment of debt, including amounts outstanding under its credit agreement. -updated 6/28- CTO Realty Growth (NYSE: CTO) ("CTO" or the "Company") today announced the pricing of a public offering of 3,000,000 shares of its 6.375% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") at a public offering price of $25.00 per share. The Series A Preferred Stock will have a $25.00 per share liquidation preference. CTO will receive gross proceeds of $75,000,000 from the sale of the Series A Preferred Stock before deducting the underwriting discount and other estimated offering expenses. The offering is expected to close on July 6, 2021, subject to customary closing conditions.
CTO Realty Growth is a real estate operating company. Co.'s business includes the following: Income Properties, which focused o investing in income-producing properties; Management Services, which is a management business that is engaged in managing Alpine Income Property Trust, Inc.; Commercial Loan and Master Lease Investments, which include a portfolio of commercial loan investments and commercial properties; and Real Estate Operations, which include a portfolio of mineral interests and an inventory of historically owned mitigation credits as well as mitigation credits produced by Co.'s mitigation bank.
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Avg. Broker Rec.
 
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Strong Buy (3.75 out of 4) 66th percentile
(ranked higher than approx. 66% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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