CTO Realty Growth (NYSE:CTO) Releases FY 2024 Earnings Guidance

CTO Realty Growth (NYSE:CTO) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.950-2.000 for the period, compared to the consensus estimate of 1.640. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Jonestrading dropped their price objective on CTO Realty Growth from $21.00 to $19.00 and set a buy rating on the stock in a report on Monday, May 6th. Alliance Global Partners assumed coverage on CTO Realty Growth in a report on Monday, April 8th. They set a buy rating and a $20.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $19.33.

CTO Realty Growth Stock Performance

Shares of NYSE CTO traded down $0.01 during trading on Thursday, reaching $18.98. The stock had a trading volume of 127,590 shares, compared to its average volume of 126,751. CTO Realty Growth has a one year low of $15.63 and a one year high of $19.50. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.74 and a current ratio of 4.74. The stock has a market cap of $435.59 million, a PE ratio of 34.51 and a beta of 0.76. The firm’s 50 day moving average price is $17.80 and its two-hundred day moving average price is $17.21.

CTO Realty Growth Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were issued a $0.38 dividend. The ex-dividend date was Thursday, June 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.01%. CTO Realty Growth’s dividend payout ratio (DPR) is 276.37%.

Insider Activity

In other news, major shareholder Cto Realty Growth, Inc. purchased 6,262 shares of the stock in a transaction dated Friday, July 5th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $93,930.00. Following the acquisition, the insider now owns 196,356 shares of the company’s stock, valued at $2,945,340. The acquisition was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders bought 21,804 shares of company stock worth $326,747. 5.00% of the stock is currently owned by insiders.

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.