The quarterly results for CTO Realty Growth, Inc. (NYSE:CTO) were released last week, making it a good time to revisit its performance. Revenues beat expectations, coming in 13% ahead of forecasts, and the company broke even on a statutory earnings per share (EPS) level. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.

Check out our latest analysis for CTO Realty Growth

Taking into account the latest results, the three analysts covering CTO Realty Growth provided consensus estimates of US$72.2m revenue in 2022, which would reflect a noticeable 7.4% decline on its sales over the past 12 months. The company is forecast to report a statutory loss of US$0.055 in 2022, a sharp decline from a profit over the last year. Yet prior to the latest earnings, the analysts had been forecasting revenues of US$70.6m and losses of US$0.055 per share in 2022.

The consensus price target held steady at US$23.89despite the upgrade to revenue forecasts and ongoing losses. The analysts seems to think the business is otherwise performing roughly in line with expectations. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. The most optimistic CTO Realty Growth analyst has a price target of US$26.00 per share, while the most pessimistic values it at US$21.00. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. Over the past five years, revenues have declined around 1.6% annually. Worse, forecasts are essentially predicting the decline to accelerate, with the estimate for an annualised 14% decline in revenue until the end of 2022. Compare this against analyst estimates for companies in the broader industry, which suggest that revenues (in aggregate) are expected to grow 7.1% annually. So while a broad number of companies are forecast to grow, unfortunately CTO Realty Growth is expected to see its sales affected worse than other companies in the industry.