Sila Realty Trust Inc., a Tampa-based real estate investment trust (REIT), has announced its operating results for the fourth quarter and full year ended December 31, 2023. The company reported a 5% increase in revenue to $189.1 million and net income attributable to common stockholders soaring by 401% to $24.0 million. Sila Realty Trust's Funds from Operations (FFO) and Adjusted Funds from Operations (AFFO) also showed upward trends. The company's strong financial performance was driven by strategic acquisitions and asset optimization. Sila Realty Trust enhanced its portfolio with the addition of two Class A medical outpatient buildings. CEO Michael Seton emphasized the company's focus on balance sheet management and selective acquisitions. The company's conservative leverage and dividend payout profile position it favorably for future acquisitions and portfolio enhancement. Sila Realty Trust aims to pursue a public market listing on a national exchange in the future to maximize shareholder value. The company is set to continue its trajectory of financial success and portfolio optimization in the healthcare real estate sector [db3293a1].
In other real estate news, CTO Realty Growth, Inc. has completed the sale of a mixed-use property in downtown Santa Fe, New Mexico for $20.0 million. The property comprised approximately 136,000 square feet. The sale aligns with the company's strategic disposition plan and yields a gain of approximately $4.6 million. The proceeds from the sale will be used for the purchase of a core power center in the Orlando Metropolitan Statistical Area. CTO Realty Growth plans to use the sales proceeds as part of a Section 1031 like-kind exchange to defer capital gains taxes. The company now holds approximately $30.7 million in proceeds in restricted cash accounts dedicated to 1031 exchanges. CTO Realty Growth is a real estate investment trust that owns and operates retail-based properties in the United States [c128361e].
Additionally, CTO Realty Growth, Inc. (NYSE:CTO) major shareholder Cto Realty Growth, Inc. purchased 830 shares of the firm's stock in a transaction that occurred on Thursday, June 13th. The stock was bought at an average price of $14.99 per share, with a total value of $12,441.70. Following the transaction, the insider now directly owns 174,235 shares in the company, valued at $2,611,782.65. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the provided link. CTO Realty Growth stock traded down $0.02 during mid-day trading on Monday, hitting $17.40. The company's stock had a trading volume of 75,802 shares, compared to its average volume of 123,284. The firm's 50-day moving average is $17.36 and its 200-day moving average is $17.08. The company has a market cap of $399.33 million, a PE ratio of 31.69, and a beta of 0.75. CTO Realty Growth, Inc. has a 52-week low of $15.63 and a 52-week high of $18.03. The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.74%. The ex-dividend date is Thursday, June 13th. CTO Realty Growth's dividend payout ratio (DPR) is presently 276.37%. Hedge funds and other institutional investors have recently made changes to their positions in the company. EntryPoint Capital LLC bought a new position in shares of CTO Realty Growth in the 1st quarter valued at approximately $31,000. AJOVista LLC bought a new position in shares of CTO Realty Growth in the 4th quarter valued at approximately $63,000. Jump Financial LLC bought a new position in shares of CTO Realty Growth in the 4th quarter valued at approximately $192,000. PNC Financial Services Group Inc. raised its stake in shares of CTO Realty Growth by 19.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,963 shares of the company's stock valued at $207,000 after acquiring an additional 1,925 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of CTO Realty Growth by 25.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,449 shares of the company's stock valued at $213,000 after acquiring an additional 2,543 shares in the last quarter. 67.18% of the stock is owned by hedge funds and other institutional investors [ccc9b42f].