WINTER PARK, Fla. (AP) — CTO Realty Growth, Inc. (CTO) reported strong funds from operations (FFO) in its fourth quarter, exceeding analyst expectations.

Financial Highlights:

* FFO: $14.9 million or $0.49 per share
* Analyst consensus: $0.48 per share
* Net income: -$17.1 million or -$0.56 per share
* Revenue: $35.7 million

Annual Results:

* FFO: $50.8 million
* Revenue: $124.5 million

Guidance:

* Full-year 2023 FFO expected in the range of $1.93 to $1.98 per share