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| 22 © CTO Realty Growth, Inc. | ctoreit.com
Consolidated Statements of Operations
CTO Realty Growth, Inc.
Consolidated Statements of Operations
(Unaudited, in thousands, except share, per share and dividend data)
Three Months Ended Six Months Ended
June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023
Revenues
Income Properties $ 25,878 $ 22,758 $ 50,501 $ 45,190
Management Fee Income 1,131 1,102 2,236 2,200
Interest Income From Commercial Loans and Investments 1,441 1,056 2,792 1,851
Real Estate Operations 395 1,131 1,443 1,523
Total Revenues 28,845 26,047 56,972 50,764
Direct Cost of Revenues
Income Properties (8,080) (6,670) (14,833) (13,823)
Real Estate Operations (259) (639) (1,078) (724)
Total Direct Cost of Revenues (8,339) (7,309) (15,911) (14,547)
General and Administrative Expenses (3,459) (3,327) (7,675) (7,054)
Provision for Impairment (67) — (115) (479)
Depreciation and Amortization (11,549) (10,829) (22,480) (21,145)
Total Operating Expenses (23,414) (21,465) (46,181) (43,225)
Gain on Disposition of Assets — 1,101 9,163 1,101
Other Gain — 1,101 9,163 1,101
Total Operating Income 5,431 5,683 19,954 8,640
Investment and Other Income (Loss) 1,429 1,811 (1,830) (2,480)
Interest Expense (5,604) (5,211) (11,133) (9,843)
Income Before Income Tax Benefit (Expense) 1,256 2,283 6,991 (3,683)
Income Tax Benefit (Expense) (73) (483) 34 (510)
Net Income (Loss) Attributable to the Company 1,183 1,800 7,025 (4,193)
Distributions to Preferred Stockholders (1,871) (1,195) (3,058) (2,390)
Net Income (Loss) Attributable to Common Stockholders $ (688) $ 605 $ 3,967 $ (6,583)
Earnings Per Share:
Basic and Diluted $ (0.03) $ 0.03 $ 0.17 $ (0.29)
Weighted Average Number of Common Shares
Basic 22,787,252 22,482,957 22,669,246 22,593,280
Diluted 22,828,148 22,482,957 22,674,796 22,593,280 |