$CTO
CTO Realty Growth, Inc.

2016 Q1 Form 10-Q Financial Statement

#000156459016017466 Filed on May 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4 2015 Q1
Revenue $18.35M $19.78M $7.308M
YoY Change 151.14% 136.45% 1.89%
Cost Of Revenue $4.890M $5.870M $2.680M
YoY Change 82.46% 99.66% 34.67%
Gross Profit $13.47M $13.91M $4.620M
YoY Change 191.56% 156.17% -10.98%
Gross Profit Margin 73.39% 70.31% 63.22%
Selling, General & Admin $4.800M $2.630M $1.470M
YoY Change 226.53% 7.35% -2.65%
% of Gross Profit 35.63% 18.91% 31.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.067M $1.568M $1.156M
YoY Change 78.88% 59.14% 49.71%
% of Gross Profit 15.35% 11.27% 25.02%
Operating Expenses $11.96M $8.338M $5.814M
YoY Change 105.71% 30.75% 36.21%
Operating Profit $6.393M $11.45M $1.494M
YoY Change 327.97% 475.17% -48.56%
Interest Expense $2.092M $2.073M $1.067M
YoY Change 96.13% 134.21% 128.06%
% of Operating Profit 32.72% 18.11% 71.39%
Other Income/Expense, Net
YoY Change
Pretax Income $3.735M $9.186M $577.8K
YoY Change 546.4% 717.14% -76.42%
Income Tax $2.343M $3.547M $224.5K
% Of Pretax Income 62.72% 38.61% 38.85%
Net Earnings $1.425M $5.689M $353.4K
YoY Change 303.2% 734.44% -76.45%
Net Earnings / Revenue 7.76% 28.76% 4.83%
Basic Earnings Per Share $0.25 $0.99 $0.06
Diluted Earnings Per Share $0.25 $0.98 $0.06
COMMON SHARES
Basic Shares Outstanding 5.735M 5.944M 5.827M
Diluted Shares Outstanding 5.735M 5.860M

Balance Sheet

Concept 2016 Q1 2015 Q4 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.400M $4.100M $25.10M
YoY Change -70.52% 115.79% 2181.82%
Cash & Equivalents $7.400M $4.061M $25.08M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $55.80M $53.40M $38.30M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $63.20M $57.50M $63.40M
YoY Change -0.32% 43.75% 151.59%
LONG-TERM ASSETS
Property, Plant & Equipment $213.0M $257.3M $173.7M
YoY Change 22.6% 42.3% 7.1%
Goodwill
YoY Change
Intangibles $16.20M -$11.89M $8.987M
YoY Change 80.28% -222.82%
Long-Term Investments $0.00 $5.700M $5.400M
YoY Change -100.0% 612.5% 575.0%
Other Assets $62.80M $14.10M $11.60M
YoY Change 441.38% 220.45% 866.67%
Total Long-Term Assets $345.1M $346.9M $241.7M
YoY Change 42.79% 46.6% 30.92%
TOTAL ASSETS
Total Short-Term Assets $63.20M $57.50M $63.40M
Total Long-Term Assets $345.1M $346.9M $241.7M
Total Assets $408.3M $404.4M $305.1M
YoY Change 33.83% 46.19% 45.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.400M $1.900M $1.200M
YoY Change 266.67% 111.11% 9.09%
Accrued Expenses $7.200M $9.000M $5.600M
YoY Change 28.57% 55.17% 24.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $11.60M $10.90M $6.800M
YoY Change 70.59% 62.69% 1.49%
LONG-TERM LIABILITIES
Long-Term Debt $170.8M $166.8M $129.3M
YoY Change 32.1% 60.54% 173.94%
Other Long-Term Liabilities $40.50M $46.70M $1.900M
YoY Change 2031.58% 1234.29% -24.0%
Total Long-Term Liabilities $211.3M $213.5M $131.2M
YoY Change 61.05% 98.79% 163.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.60M $10.90M $6.800M
Total Long-Term Liabilities $211.3M $213.5M $131.2M
Total Liabilities $265.2M $264.0M $173.6M
YoY Change 52.72% 78.13% 95.48%
SHAREHOLDERS EQUITY
Retained Earnings $121.9M $120.4M $112.9M
YoY Change 7.93% 7.0% 4.47%
Common Stock $24.84M $22.89M $19.70M
YoY Change 26.09% 33.47% 36.14%
Preferred Stock
YoY Change
Treasury Stock (at cost) $9.206M $7.866M $1.382M
YoY Change 566.35% 469.38% 0.0%
Treasury Stock Shares $159.9K
Shareholders Equity $137.5M $134.8M $131.5M
YoY Change
Total Liabilities & Shareholders Equity $408.3M $404.4M $305.1M
YoY Change 33.82% 46.19% 45.42%

Cashflow Statement

Concept 2016 Q1 2015 Q4 2015 Q1
OPERATING ACTIVITIES
Net Income $1.425M $5.689M $353.4K
YoY Change 303.2% 734.44% -76.45%
Depreciation, Depletion And Amortization $2.067M $1.568M $1.156M
YoY Change 78.88% 59.14% 49.71%
Cash From Operating Activities -$1.194M $20.24M -$340.9K
YoY Change 250.36% 1366.67% 172.46%
INVESTING ACTIVITIES
Capital Expenditures $289.1K -$42.69M $81.38K
YoY Change 255.24% 91.87% -90.31%
Acquisitions
YoY Change
Other Investing Activities $5.160M $5.930M -$5.310M
YoY Change -197.18% -325.48% -137.87%
Cash From Investing Activities $2.407M -$36.75M -$5.394M
YoY Change -144.63% 47.77% -140.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.340M
YoY Change
Debt Paid & Issued, Net $124.0K $47.54M
YoY Change -99.74% 164.11%
Cash From Financing Activities 2.098M 16.35M 28.93M
YoY Change -92.75% -29.4% -270.92%
NET CHANGE
Cash From Operating Activities -1.194M 20.24M -340.9K
Cash From Investing Activities 2.407M -36.75M -5.394M
Cash From Financing Activities 2.098M 16.35M 28.93M
Net Change In Cash 3.311M -160.0K 23.20M
YoY Change -85.73% -51.52% -698.82%
FREE CASH FLOW
Cash From Operating Activities -$1.194M $20.24M -$340.9K
Capital Expenditures $289.1K -$42.69M $81.38K
Free Cash Flow -$1.483M $62.93M -$422.3K
YoY Change 251.3% 166.31% -56.24%

Facts In Submission

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6500
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
2407301
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5393950
CY2016Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
3750000
CY2015Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
76375000
CY2016Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
124049
CY2015Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
47540011
CY2016Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7484
CY2015Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
127022
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1339614
CY2016Q1 cto Proceeds From Payments For Excess Tax Benefit Expense From Share Based Compensation Financing Activities
ProceedsFromPaymentsForExcessTaxBenefitExpenseFromShareBasedCompensationFinancingActivities
2507
CY2015Q1 cto Proceeds From Payments For Excess Tax Benefit Expense From Share Based Compensation Financing Activities
ProceedsFromPaymentsForExcessTaxBenefitExpenseFromShareBasedCompensationFinancingActivities
-29563
CY2016Q1 cto Payments For Vesting Of Restricted Stock
PaymentsForVestingOfRestrictedStock
198713
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2097615
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
28932448
CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3310519
CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
23197588
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1881195
CY2015Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25078783
CY2015Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
577000
CY2016Q1 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
133000
CY2016Q1 us-gaap Interest Paid
InterestPaid
2500000
CY2015Q1 us-gaap Interest Paid
InterestPaid
815000
CY2016Q1 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
0
CY2015Q1 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
0
CY2016Q1 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
-576000
CY2015Q1 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
117000
CY2016Q1 cto Stock Based And Non Cash Compensation
StockBasedAndNonCashCompensation
60000
CY2016Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates in Preparation of Financial Statements</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Due to the fluctuating market conditions that exist in the Florida and national real estate markets, and the volatility and uncertainty in the financial and credit markets, it is possible that the estimates and assumptions, most notably those related to the Company&#8217;s investment in income properties and commercial loans, could change materially during the time span associated with the volatility of the real estate and financial markets or as a result of a significant dislocation in those markets.</p></div>
CY2016Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
10
CY2016Q1 cto Number Of Commercial Real Estate Properties
NumberOfCommercialRealEstateProperties
41
CY2016Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
32
CY2016Q1 cto Number Of Self Developed Properties
NumberOfSelfDevelopedProperties
9
CY2016Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
1700000
CY2016Q1 us-gaap Area Of Land
AreaOfLand
10500
CY2016Q1 us-gaap Number Of Properties Subject To Ground Leases
NumberOfPropertiesSubjectToGroundLeases
20
CY2016Q1 cto Cash And Cash Equivalents Maximum Original Maturity Period
CashAndCashEquivalentsMaximumOriginalMaturityPeriod
P90D
CY2016Q1 cto Restricted Cash Held For Payment Of Property Taxes And Insurance Escrows
RestrictedCashHeldForPaymentOfPropertyTaxesAndInsuranceEscrows
13600000
CY2016Q1 us-gaap Escrow Deposit
EscrowDeposit
219000
CY2013Q1 cto Business Acquisition Number Of Acquired Property
BusinessAcquisitionNumberOfAcquiredProperty
2
CY2016Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
751000
CY2013Q4 us-gaap Escrow Deposit
EscrowDeposit
4000
CY2016Q1 us-gaap Marketable Securities Realized Gain Loss Other Than Temporary Impairments Amount
MarketableSecuritiesRealizedGainLossOtherThanTemporaryImpairmentsAmount
0
CY2015Q1 us-gaap Marketable Securities Realized Gain Loss Other Than Temporary Impairments Amount
MarketableSecuritiesRealizedGainLossOtherThanTemporaryImpairmentsAmount
0
CY2015Q4 us-gaap Marketable Securities Realized Gain Loss Other Than Temporary Impairments Amount
MarketableSecuritiesRealizedGainLossOtherThanTemporaryImpairmentsAmount
60000
CY2016Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2015Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2015Q4 cto Amount Reclassified From Other Assets To Long Term Debt
AmountReclassifiedFromOtherAssetsToLongTermDebt
1700000
CY2016Q1 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
2500000
CY2016Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
1000000
CY2016Q1 cto Payments To Acquire Intangible Liabilities
PaymentsToAcquireIntangibleLiabilities
200000
CY2016Q1 cto Acquired Finite Lived Intangible Assets And Liabilities Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsAndLiabilitiesWeightedAverageUsefulLife
P8Y3M18D
CY2016Q1 cto Area Of Property
AreaOfProperty
4685
CY2016Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
0.37
CY2016Q1 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
2500000
CY2016Q1 cto Weighted Average Remaining Lease Term
WeightedAverageRemainingLeaseTerm
P8Y2M12D
CY2016Q1 cto Sale Price Of Portfolio Properties
SalePriceOfPortfolioProperties
51600000
CY2016Q1 us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
23100000
CY2016Q1 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
11400000
CY2016Q1 cto Gain Loss On Sale Of Property Portfolio Per Share
GainLossOnSaleOfPropertyPortfolioPerShare
1.22
CY2016Q1 us-gaap Loans And Leases Receivable Commercial
LoansAndLeasesReceivableCommercial
38460467
CY2016Q1 us-gaap Loans And Leases Receivable Gross Carrying Amount Commercial
LoansAndLeasesReceivableGrossCarryingAmountCommercial
38460467
CY2016Q1 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
33064
CY2016Q1 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
149858
CY2015Q4 us-gaap Loans And Leases Receivable Commercial
LoansAndLeasesReceivableCommercial
38460467
CY2015Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount Commercial
LoansAndLeasesReceivableGrossCarryingAmountCommercial
38460467
CY2015Q4 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
36382
CY2015Q4 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
164893
CY2016Q1 us-gaap Land Sales
LandSales
2200000
CY2016Q1 us-gaap Land Sales
LandSales
2000000
CY2016Q1 cto Revenue Per Acre
RevenuePerAcre
455000
CY2016Q1 cto Percentage Of Infrastructure Work Completed
PercentageOfInfrastructureWorkCompleted
0.66
CY2016Q1 cto Revenue From Reimbursement Of Infrastructure Costs
RevenueFromReimbursementOfInfrastructureCosts
1500000
CY2016Q1 cto Remaining Estimated Infrastructure Costs To Be Incurred
RemainingEstimatedInfrastructureCostsToBeIncurred
1800000
CY2016Q1 cto Incentives Received From Community Development District
IncentivesReceivedFromCommunityDevelopmentDistrict
4500000
CY2016Q1 cto Installment Period For Incentives Repayment
InstallmentPeriodForIncentivesRepayment
P10Y
CY2016Q1 cto Installment Period For Infrastructure Reimbursement
InstallmentPeriodForInfrastructureReimbursement
P10Y
CY2015Q1 cto Number Of Land Transactions
NumberOfLandTransactions
0
CY2016Q1 cto Subsurface Interest Area Of Land
SubsurfaceInterestAreaOfLand
500000
CY2016Q1 cto Subsurface Interest In Number Of Countries
SubsurfaceInterestInNumberOfCountries
20
CY2016Q1 us-gaap Capital Leases Contingent Rental Payments Received
CapitalLeasesContingentRentalPaymentsReceived
8213755
CY2016Q1 cto Non Refundable Payment Received
NonRefundablePaymentReceived
1775000
CY2016Q1 cto Amended Oil Exploration Lease Term Description
AmendedOilExplorationLeaseTermDescription
The terms of the lease state the Company will receive royalty payments if production occurs, and may receive additional annual rental payments if the lease is continued in years six through eight.
CY2016Q1 us-gaap Exploration And Production Revenue
ExplorationAndProductionRevenue
303000
CY2015Q1 us-gaap Exploration And Production Revenue
ExplorationAndProductionRevenue
460000
CY2016Q1 cto Area Of Operating Lease Oil Wells
AreaOfOperatingLeaseOilWells
800
CY2016Q1 us-gaap Royalty Revenue
RoyaltyRevenue
5000
CY2015Q1 us-gaap Royalty Revenue
RoyaltyRevenue
21000
CY2016Q1 cto Payments For Release Of Surface Entry Rights
PaymentsForReleaseOfSurfaceEntryRights
0
CY2015Q1 cto Payments For Release Of Surface Entry Rights
PaymentsForReleaseOfSurfaceEntryRights
2000
CY2016Q1 us-gaap Equity Method Investment Sold Carrying Amount
EquityMethodInvestmentSoldCarryingAmount
6800000
CY2015Q1 us-gaap Available For Sale Securities
AvailableForSaleSecurities
0
CY2015Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
6825415
CY2015Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1121648
CY2015 us-gaap Marketable Securities Realized Gain Loss Other Than Temporary Impairments Amount
MarketableSecuritiesRealizedGainLossOtherThanTemporaryImpairmentsAmount
60000
CY2015 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-1100000
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-576000
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
131000
CY2015 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
433000
CY2016Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
802500
CY2016Q1 us-gaap Available For Sale Securities Equity Securities
AvailableForSaleSecuritiesEquitySecurities
4901267
CY2016Q1 us-gaap Available For Sale Securities
AvailableForSaleSecurities
5703767
CY2016Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
5703767
CY2016Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
21794586
CY2015Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
24892943
CY2016Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4566676
CY2016Q1 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
32483281
CY2015Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
32315741
CY2016Q1 cto Intangible Lease Liabilities Gross
IntangibleLeaseLiabilitiesGross
32483281
CY2015Q4 cto Intangible Lease Liabilities Gross
IntangibleLeaseLiabilitiesGross
32315741
CY2016Q1 cto Intangible Lease Liabilities Accumulated Amortization
IntangibleLeaseLiabilitiesAccumulatedAmortization
1006616
CY2015Q4 cto Intangible Lease Liabilities Accumulated Amortization
IntangibleLeaseLiabilitiesAccumulatedAmortization
336182
CY2016Q1 cto Intangible Lease Liabilities Net
IntangibleLeaseLiabilitiesNet
31476665
CY2015Q4 cto Intangible Lease Liabilities Net
IntangibleLeaseLiabilitiesNet
31979559
CY2016Q1 cto Intangible Assets Liabilities Net Excluding Goodwill
IntangibleAssetsLiabilitiesNetExcludingGoodwill
-14248755
CY2015Q4 cto Intangible Assets Liabilities Net Excluding Goodwill
IntangibleAssetsLiabilitiesNetExcludingGoodwill
-11892408
CY2016Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
583000
CY2015Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
422000
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
1521601
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1941511
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1937911
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1935341
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1886208
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1369584
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
5609190
CY2016Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
16201346
CY2016Q1 cto Finite Lived Intangible Assets Accretion To Income Property Revenue Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAccretionToIncomePropertyRevenueRemainderOfFiscalYear
1667404
CY2016Q1 cto Finite Lived Intangible Assets Accretion To Income Property Revenue Next Twelve Months
FiniteLivedIntangibleAssetsAccretionToIncomePropertyRevenueNextTwelveMonths
2189685
CY2016Q1 cto Finite Lived Intangible Assets Accretion To Income Property Revenue Year Two
FiniteLivedIntangibleAssetsAccretionToIncomePropertyRevenueYearTwo
2191717
CY2016Q1 cto Finite Lived Intangible Assets Accretion To Income Property Revenue Year Three
FiniteLivedIntangibleAssetsAccretionToIncomePropertyRevenueYearThree
2192911
CY2016Q1 cto Finite Lived Intangible Assets Accretion To Income Property Revenue Year Four
FiniteLivedIntangibleAssetsAccretionToIncomePropertyRevenueYearFour
2192911
CY2016Q1 cto Finite Lived Intangible Assets Accretion To Income Property Revenue Year Five
FiniteLivedIntangibleAssetsAccretionToIncomePropertyRevenueYearFive
2279897
CY2016Q1 cto Finite Lived Intangible Assets Accretion To Income Property Revenue After Year Five
FiniteLivedIntangibleAssetsAccretionToIncomePropertyRevenueAfterYearFive
17735576
CY2016Q1 cto Intangible Assets Accretion To Income Property Revenue Excluding Goodwill
IntangibleAssetsAccretionToIncomePropertyRevenueExcludingGoodwill
30450101
CY2016Q1 cto Finite Lived Intangible Assets Liabilities Net Future Amortization Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationRemainderOfFiscalYear
145803
CY2016Q1 cto Finite Lived Intangible Assets Liabilities Net Future Amortization Next Twelve Months
FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationNextTwelveMonths
248174
CY2016Q1 cto Finite Lived Intangible Assets Liabilities Net Future Amortization Year Two
FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearTwo
253806
CY2016Q1 cto Finite Lived Intangible Assets Liabilities Net Future Amortization Year Three
FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearThree
257570
CY2016Q1 cto Finite Lived Intangible Assets Liabilities Net Future Amortization Year Four
FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearFour
306703
CY2016Q1 cto Finite Lived Intangible Assets Liabilities Net Future Amortization Year Five
FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearFive
910313
CY2016Q1 cto Finite Lived Intangible Assets Liabilities Net Future Amortization After Year Five
FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationAfterYearFive
12126386
CY2016Q1 cto Finite Lived Intangible Assets Liabilities Net Future Amortization
FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortization
14248755
CY2016Q1 cto Number Of Properties Held For Sales
NumberOfPropertiesHeldForSales
1
CY2016Q1 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
134000
CY2016Q1 cto Sale Of Property Closing Costs
SaleOfPropertyClosingCosts
76000
CY2015Q1 cto Number Of Properties Held For Sales
NumberOfPropertiesHeldForSales
2
CY2015Q1 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
277000
CY2015Q1 cto Sale Of Property Closing Costs
SaleOfPropertyClosingCosts
233000
CY2016Q1 cto Income Property Tenant Receivables
IncomePropertyTenantReceivables
295119
CY2015Q4 cto Income Property Tenant Receivables
IncomePropertyTenantReceivables
830574
CY2016Q1 cto Income Property Straight Line Rent Adjustment
IncomePropertyStraightLineRentAdjustment
1930261
CY2015Q4 cto Income Property Straight Line Rent Adjustment
IncomePropertyStraightLineRentAdjustment
1781798
CY2016Q1 cto Interest Receivable From Commercial Loan Investments
InterestReceivableFromCommercialLoanInvestments
229218
CY2015Q4 cto Interest Receivable From Commercial Loan Investments
InterestReceivableFromCommercialLoanInvestments
155163
CY2016Q1 cto Infrastructure Reimbursement Receivables
InfrastructureReimbursementReceivables
2760759
CY2015Q4 cto Infrastructure Reimbursement Receivables
InfrastructureReimbursementReceivables
1306602
CY2016Q1 cto Golf Operations Receivables
GolfOperationsReceivables
435132
CY2015Q4 cto Golf Operations Receivables
GolfOperationsReceivables
253358
CY2016Q1 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
528386
CY2015Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
520308
CY2016Q1 cto Prepaid Expenses And Other Deposits
PrepaidExpensesAndOtherDeposits
2339944
CY2015Q4 cto Prepaid Expenses And Other Deposits
PrepaidExpensesAndOtherDeposits
1187021
CY2016Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1424718
CY2015Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
353356
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5734884
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5826640
CY2015Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
33721
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5734884
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5860361
CY2016Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
67500
CY2015Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25200
CY2016Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
68.90
CY2016Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2015Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2016Q1 us-gaap Line Of Credit
LineOfCredit
42050000
CY2016Q1 us-gaap Senior Notes
SeniorNotes
70033267
CY2016Q1 cto Debt Instrument Accumulated Amortization
DebtInstrumentAccumulatedAmortization
1684468
CY2016Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
49350000
CY2016Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
75000000
CY2016Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
53100000
CY2016Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
177450000
CY2016Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
4966733
CY2016Q1 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
1700000
CY2016Q1 us-gaap Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
1700000
CY2015Q1 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
969000
CY2016Q1 us-gaap Accrued Rent Current And Noncurrent
AccruedRentCurrentAndNoncurrent
2509019
CY2015Q4 us-gaap Accrued Rent Current And Noncurrent
AccruedRentCurrentAndNoncurrent
2602638
CY2016Q1 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent
627290
CY2015Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent
40042
CY2016Q1 us-gaap Incentive From Lessor
IncentiveFromLessor
760060
CY2015Q4 us-gaap Incentive From Lessor
IncentiveFromLessor
812493
CY2016Q1 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
253785
CY2015Q4 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
1195231
CY2016Q1 us-gaap Environmental Exit Costs Costs Accrued To Date
EnvironmentalExitCostsCostsAccruedToDate
2366921
CY2015Q4 us-gaap Environmental Exit Costs Costs Accrued To Date
EnvironmentalExitCostsCostsAccruedToDate
2405635
CY2016Q1 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
643714
CY2015Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
1811880
CY2012Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
250000
CY2012Q3 cto Annual Rate Adjustment Percentage
AnnualRateAdjustmentPercentage
0.0175
CY2012Q3 cto Capital Expenditures Agreed Under Lease Arrangement
CapitalExpendituresAgreedUnderLeaseArrangement
200000
CY2016Q1 us-gaap Description Of Lessee Leasing Arrangements Operating Leases
DescriptionOfLesseeLeasingArrangementsOperatingLeases
Company will pay additional rent to the City equal to 5.0% of gross revenues exceeding $5,500,000 and 7.0% of gross revenues exceeding $6,500,000.
CY2012Q3 cto Additional Rent Percentage Under Lease Amendment One
AdditionalRentPercentageUnderLeaseAmendmentOne
0.050
CY2012Q3 cto Additional Rent Percentage Under Lease Amendment Two
AdditionalRentPercentageUnderLeaseAmendmentTwo
0.070
CY2012Q3 cto Gross Revenue Value For Additional Rent Under Lease Amendment Lower Limit
GrossRevenueValueForAdditionalRentUnderLeaseAmendmentLowerLimit
5500000
CY2012Q3 cto Gross Revenue Value For Additional Rent Under Lease Amendment Upper Limit
GrossRevenueValueForAdditionalRentUnderLeaseAmendmentUpperLimit
6500000
CY2012Q3 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
3000000
CY2016Q1 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
1600000
CY2012Q3 cto Lease Term Expiration Year
LeaseTermExpirationYear
2022
CY2014Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
110000
CY2016Q1 us-gaap Accrual For Environmental Loss Contingencies Increase Decrease For Revision In Estimates
AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForRevisionInEstimates
500000
CY2016Q1 us-gaap Cost Of Services Environmental Remediation
CostOfServicesEnvironmentalRemediation
131000
CY2015 us-gaap Affiliate Costs
AffiliateCosts
187500
CY2015Q4 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
160
CY2016Q1 us-gaap Deferred Revenue Leases Net
DeferredRevenueLeasesNet
582778
CY2015Q4 us-gaap Deferred Revenue Leases Net
DeferredRevenueLeasesNet
885822
CY2016Q1 us-gaap Deferred Gain On Sale Of Property
DeferredGainOnSaleOfProperty
7152509
CY2015Q4 us-gaap Deferred Gain On Sale Of Property
DeferredGainOnSaleOfProperty
12656773
CY2016Q1 us-gaap Advance Rent
AdvanceRent
1029431
CY2015Q4 us-gaap Advance Rent
AdvanceRent
907325
CY2016Q1 cto Deferred Revenues Other
DeferredRevenuesOther
286791
CY2015Q4 cto Deferred Revenues Other
DeferredRevenuesOther
274690
CY2015Q3 us-gaap Proceeds From Collection Of Lease Receivables
ProceedsFromCollectionOfLeaseReceivables
1200000
CY2015Q3 cto Oil Exploration Lease Period
OilExplorationLeasePeriod
P8Y
CY2015Q3 cto Lease Periods
LeasePeriods
P12M
CY2015Q3 cto Leases Expiration Period
LeasesExpirationPeriod
2016-09
CY2016Q1 cto Restricted Shares Vesting Condition Description
RestrictedSharesVestingConditionDescription
The restricted shares will vest in six increments based upon the price per share of the Company’s common stock during the term of their employment (or within sixty days after termination of employment by the Company without cause), meeting or exceeding the target trailing sixty-day average closing prices ranging from $36 per share for the first increment to $65 per share for the final increment.
CY2016Q1 cto Restricted Share Award Closing Prices Per Share Minimum
RestrictedShareAwardClosingPricesPerShareMinimum
36
CY2016Q1 cto Restricted Share Award Closing Prices Per Share Maximum
RestrictedShareAwardClosingPricesPerShareMaximum
65
CY2016Q1 cto Restricted Share Award Employee Benefit Termination Period
RestrictedShareAwardEmployeeBenefitTerminationPeriod
P60D
CY2016Q1 cto Share Based Compensation Arrangement By Share Based Payment Award Number Of Increments To Vest Stock Options
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfIncrementsToVestStockOptions
6
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3057
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.2940
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0017
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0015
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P1Y3M18D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P1Y3M18D
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0066
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0075
CY2016Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
163353
CY2015Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
29067
CY2016Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
55.62
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
13200
CY2016Q1 cto Restricted Share Award Closing Prices Per Share Minimum
RestrictedShareAwardClosingPricesPerShareMinimum
75
CY2016Q1 cto Number Of Shares Exceeding Annual Award Limit
NumberOfSharesExceedingAnnualAwardLimit
112000
CY2015 cto Number Of Shares Limit On Compensation Plan
NumberOfSharesLimitOnCompensationPlan
112000
CY2016Q1 cto Effective Income Tax Rate Including Income Taxes Attributable To Discontinued Operations
EffectiveIncomeTaxRateIncludingIncomeTaxesAttributableToDiscontinuedOperations
0.622
CY2015Q1 cto Effective Income Tax Rate Including Income Taxes Attributable To Discontinued Operations
EffectiveIncomeTaxRateIncludingIncomeTaxesAttributableToDiscontinuedOperations
0.388
cto Other Third Party Cost
OtherThirdPartyCost
988000
CY2016Q1 cto Other Third Party Cost
OtherThirdPartyCost
927000
CY2016Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4
CY2016Q1 cto Number Of Commercial Loan Investments
NumberOfCommercialLoanInvestments
4
CY2016Q1 cto Golf Operation Description
GolfOperationDescription
Our golf operations consist of a single property located in the City, with two 18-hole championship golf courses
CY2016Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2746581
CY2015Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
81353
CY2015Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1700000

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