CTO Realty Growth (NYSE:CTO) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of CTO Realty Growth (NYSE:CTO) from a sell rating to a hold rating in a report issued on Friday.

Separately, Raymond James upgraded shares of CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $22.00 to $24.00 in a report on Wednesday, October 30th.

CTO Realty Growth Price Performance

Shares of NYSE CTO opened at $19.04 on Friday. The stock has a market cap of $570.59 million, a P/E ratio of 32.26 and a beta of 0.78. The firm’s 50-day simple moving average is $19.74 and its 200 day simple moving average is $19.57. CTO Realty Growth has a fifty-two week low of $16.33 and a fifty-two week high of $21.15. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.88.

CTO Realty Growth (NYSE:CTO) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.48. CTO Realty Growth had a net margin of 17.10% and a return on equity of 4.04%. The business had revenue of $35.74 million for the quarter, compared to analyst estimates of $33.39 million. Equities analysts expect that CTO Realty Growth will post 1.81 EPS for the current year.

CTO Realty Growth Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 13th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.99%. The ex-dividend date is Thursday, March 13th. CTO Realty Growth’s dividend payout ratio (DPR) is presently -690.91%.

Institutional Investors Weigh In On CTO Realty Growth

Large investors have recently made changes to their positions in the company. Two Sigma Advisers LP lifted its stake in CTO Realty Growth by 29.1% in the 4th quarter. Two Sigma Advisers LP now owns 509,701 shares of the company’s stock worth $10,046,000 after acquiring an additional 115,000 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of CTO Realty Growth by 2.2% in the 4th quarter. Two Sigma Investments LP now owns 455,146 shares of the company’s stock valued at $8,971,000 after purchasing an additional 9,709 shares during the period. State of Wyoming lifted its position in shares of CTO Realty Growth by 72.7% in the fourth quarter. State of Wyoming now owns 19,039 shares of the company’s stock worth $375,000 after purchasing an additional 8,014 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of CTO Realty Growth by 53.5% during the fourth quarter. Point72 Asset Management L.P. now owns 17,806 shares of the company’s stock worth $351,000 after purchasing an additional 6,206 shares during the period. Finally, Man Group plc boosted its holdings in shares of CTO Realty Growth by 18.1% during the fourth quarter. Man Group plc now owns 59,382 shares of the company’s stock worth $1,170,000 after purchasing an additional 9,116 shares during the period. Institutional investors and hedge funds own 67.18% of the company’s stock.

About CTO Realty Growth

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.