CTO Realty Growth Inc (CTO) is undervalued and W. P. Carey Inc (WPC) is overvalued.
Against our estimates of intrinsic value, CTO trades at the wider discount: a margin of safety of +64%, against -51% for WPC.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.2% (average of 3 methods) values the shares at $57.09; the price of $20.38 is 64% below that value, and 83% of that value comes from beyond year five.
Leak Score 57/100 on 9 of 12 signals
Discounting its cash flows at 7.8% (average of 3 methods) values the shares at $44.35; the price of $66.89 is 51% above that value, and 80% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
| Metric | CTO | WPC |
|---|---|---|
| Verdict | Undervalued | Overvalued |
| Price | $20.38 | $66.89 |
| Intrinsic value | $57.09 | $44.35 |
| Margin of safety | +64% | -51% |
| Leak Score | 57/100 (9/12) | 0/100 (2/12) |
| Market cap | $764M | $15.2B |
| Revenue growth, 5 years | 21.5% | 7.3% |
| Operating margin | 24.6% | 53.2% |
| Net margin | 28.0% | 36.3% |
| Return on equity | 8.5% | 7.7% |
| Debt to equity | 1.04 | 1.03 |
| P/E | 14.9x | 22.9x |
| Forward P/E | 22.6x | 21.7x |
| P/B | 1.1x | 1.8x |
| Dividend yield | 7.5% | 5.6% |