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CTO Realty Growth vs Apollo Commercial Real Estate Finance: CTO and ARI compared
CTO Realty Growth is the larger company: $46.9M of revenue in its latest quarter (Q3 2026) against $44.4M for Apollo Commercial Real Estate Finance (Q2 2026). CTO Realty Growth is growing faster (+24% against -37% a year earlier). Apollo Commercial Real Estate Finance is more profitable, with an operating margin of 58.1% against 24.7%.
Where the money goes: CTO and ARI
CTO Realty Growth (CTO) · Q3 2026
CTO Realty Growth, Q3 2026: revenue $46.9M (+24% year over year), operating margin 24.7%, net loss $5.2M, operating cash flow $24.6M. The chart follows the revenue to costs, profit and cash.
Apollo Commercial Real Estate Finance (ARI) · Q2 2026
Apollo Commercial Real Estate Finance, Q2 2026: revenue $44.4M (-37% year over year), operating margin 58.1%, net earnings $25.8M, operating cash flow $33.9M. The chart follows the revenue to costs, profit and cash.
| CTO Realty Growth (CTO) | Apollo Commercial Real Estate Finance (ARI) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $46.9M | $44.4M |
| Revenue growth, Y/Y | +24% | -37% |
| Operating margin | 24.7% | 58.1% |
| Net earnings | −$5.2M | $25.8M |
| Net margin | -11.0% | 58.1% |
| Operating cash flow | $24.6M | $33.9M |
| Free cash flow | — | $24.5M |
Where the revenue comes from
CTO Realty Growth
- Income Properties: $38.5M (82%)
- Commercial Loans and Investments: $6.9M (15%)
- Management Services: $1.5M (3%)
Questions
Which is bigger, CTO Realty Growth or Apollo Commercial Real Estate Finance?
CTO Realty Growth is the larger company: $46.9M of revenue in its latest quarter (Q3 2026) against $44.4M for Apollo Commercial Real Estate Finance (Q2 2026).
Is CTO Realty Growth or Apollo Commercial Real Estate Finance growing faster?
CTO Realty Growth is growing faster (+24% against -37% a year earlier).
Which is more profitable, CTO Realty Growth or Apollo Commercial Real Estate Finance?
Apollo Commercial Real Estate Finance is more profitable, with an operating margin of 58.1% against 24.7%.
More: CTO Realty Growth earnings · how CTO Realty Growth makes money · Apollo Commercial Real Estate Finance earnings · how Apollo Commercial Real Estate Finance makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 27, 2026; 10-Q filed Aug 10, 2026). Fiscal quarters can end on different dates. Not investment advice.