CTO Realty Growth, Inc. (NYSE:CTO) Q1 2024 Earnings Conference Call May 3, 2024 9:00 AM ET

Company Participants

Lisa Vorakoun - Senior Vice President, Chief Accounting Officer and Interim Chief Financial Officer and Treasurer
John Albright - Chief Executive Officer and President

Conference Call Participants

Gopal Mehta - Alliance Global Partners
Rob Stevenson - Janney Montgomery and Scott
R.J. Milligan - Raymond James
Matthew Erdner - Jones Trading
John Massocca - B. Riley Securities

Operator

Good day, and thank you for standing by. Welcome to the CTO Q1 2024 Earnings Conference Call. At this time all participants’ are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to turn the conference over to your speaker for today, Lisa Vorakoun. Please go ahead.

Lisa Vorakoun

Good morning, everyone, and thank you for joining us today for the CTO Realty Growth first quarter 2024 operating results conference call. With me today is our CEO and President, John Albright.

Before we begin, I'd like to remind everyone that many of our comments today are considered forward-looking statements under federal securities laws. The company's actual future results may differ significantly from the matters discussed in these forward-looking statements and we undertake no duty to update these statements. Factors and risks that could cause actual results to differ materially from expectations are disclosed from time-to-time in greater detail in the company's Form 10-K, Form 10-Q and other SEC filings. You can find our SEC reports, earnings release, supplemental and most recent investor presentation on our website at ctoreit.com.

And now I'll turn it over to John for his prepared remarks.

John Albright

Thanks, Lisa. Good morning, everyone, and thank you for joining us. I'd like to start off by thanking our former CFO, Matt Partridge, for his many contributions to our company. We wish him well with his new opportunity. We've engaged a national search firm to assist us in identifying our new CFO and have started interviewing candidates.

Today, we'll provide a brief overview of our first quarter results, discuss the continued strength we're seeing in the leasing front and highlight our recent transactions. Starting with our operating business. We had yet another successful quarter of leasing activity in the first quarter. We signed over 100,000 square feet of new leases, renewals, options and extensions at an average rent of $27.12 per square foot. That's over 200,000 square feet of leasing activity in the past six months.