CTO Realty Group (CTO) PT Raised to $23 at Cantor Fitzgerald

Cantor Fitzgerald analyst Kay Kornreich raised the price target on CTO Realty Group (NYSE: CTO) to $23.00 (from $22.00) while maintaining an Overweight rating.

The analyst commented, "Shopping center fundamentals are remaining strong at the beginning of the year. CTO reported 1Q26 earnings with 95.4% of the total property portfolio leased and anticipates 3.5%-4.5% of same-property NOI growth in 2026. Recent investments include the 1Q26 ~$82M shopping center acquisition in Texas and the April $75M preferred equity investment into a premier Southwest retail property at a 12% initial cash yield. That helped propel both the annual investment guidance to an additional $75M at the low end of the range, and the AFFO guidance to ~$2.22 at the midpoint from ~$2.14. We continue to see the stock as attractively positioned behind its significant 9x AFFO multiple discount to the sector average, and setup for 12%+ annual AFFO growth in 2026. We maintain our Overweight rating and are increasing our Price target to $23 from $22."

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