CTO Realty Growth (NYSE:CTO) Raised to “Strong-Buy” at Raymond James

Raymond James upgraded shares of CTO Realty Growth (NYSE:CTO) from an outperform rating to a strong-buy rating in a report published on Wednesday morning, Marketbeat Ratings reports. They currently have $24.00 target price on the stock, up from their prior target price of $22.00.

A number of other equities analysts also recently issued reports on CTO. StockNews.com downgraded CTO Realty Growth from a “hold” rating to a “sell” rating in a research report on Monday. Alliance Global Partners upgraded CTO Realty Growth to a “strong-buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $21.00.

CTO Realty Growth Price Performance

CTO opened at $19.51 on Wednesday. The firm has a market capitalization of $451.07 million, a PE ratio of 33.07 and a beta of 0.76. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.42 and a quick ratio of 3.42. The business’s 50-day moving average is $19.14 and its two-hundred day moving average is $18.39. CTO Realty Growth has a 1 year low of $15.78 and a 1 year high of $21.15.

CTO Realty Growth (NYSE:CTO) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.27). The firm had revenue of $31.81 million during the quarter, compared to analysts’ expectations of $30.15 million. CTO Realty Growth had a return on equity of 3.55% and a net margin of 14.52%. During the same period in the previous year, the firm earned $0.48 EPS. Research analysts anticipate that CTO Realty Growth will post 1.78 earnings per share for the current fiscal year.

CTO Realty Growth Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 12th were issued a $0.38 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.79%. CTO Realty Growth’s dividend payout ratio is currently 257.63%.

Insider Transactions at CTO Realty Growth

In related news, Director Christopher W. Haga sold 3,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $19.45, for a total value of $58,350.00. Following the transaction, the director now directly owns 44,988 shares of the company’s stock, valued at $875,016.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.30% of the company’s stock.

Institutional Trading of CTO Realty Growth

Large investors have recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. purchased a new position in shares of CTO Realty Growth in the second quarter worth about $26,000. EntryPoint Capital LLC purchased a new stake in CTO Realty Growth in the first quarter valued at approximately $31,000. Signaturefd LLC increased its holdings in CTO Realty Growth by 45.4% in the 3rd quarter. Signaturefd LLC now owns 1,785 shares of the company’s stock worth $34,000 after buying an additional 557 shares during the period. Copeland Capital Management LLC purchased a new position in CTO Realty Growth during the 3rd quarter worth approximately $49,000. Finally, CWM LLC lifted its stake in CTO Realty Growth by 17.5% during the 2nd quarter. CWM LLC now owns 4,527 shares of the company’s stock valued at $79,000 after acquiring an additional 673 shares during the period. Hedge funds and other institutional investors own 67.18% of the company’s stock.

CTO Realty Growth Company Profile

CTO Realty Growth, Inc is a publicly traded real estate investment trust that owns and operates a portfolio of high-quality, retail-based properties located primarily in higher growth markets in the United States. CTO also externally manages and owns a meaningful interest in Alpine Income Property Trust, Inc (NYSE: PINE), a publicly traded net lease REIT.