CTO Realty Growth (NYSE:CTO) Lifted to “Strong-Buy” at Alliance Global Partners

Alliance Global Partners upgraded shares of CTO Realty Growth (NYSE:CTO) to a strong-buy rating in a research report sent to investors on Friday morning, Zacks.com reports.

Separately, Jonestrading reduced their target price on shares of CTO Realty Growth from $21.00 to $19.00 and set a buy rating for the company in a report on Monday, May 6th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of $19.33.

CTO Realty Growth Stock Performance

Shares of CTO Realty Growth stock opened at $19.60 on Friday. 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 firm has a market cap of $453.15 million, a price-to-earnings ratio of 35.64 and a beta of 0.76. The stock’s 50-day moving average is $17.88 and its 200-day moving average is $17.25. CTO Realty Growth has a one year low of $15.63 and a one year high of $19.86.

CTO Realty Growth (NYSE:CTO) last announced its earnings results on Thursday, July 25th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.42). CTO Realty Growth had a net margin of 14.52% and a return on equity of 3.55%. The firm had revenue of $28.85 million during the quarter, compared to analyst estimates of $27.46 million. During the same period in the prior year, the business posted $0.48 EPS. Equities analysts predict that CTO Realty Growth will post 1.61 earnings per share for the current fiscal year.

CTO Realty Growth Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 13th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.52 annualized dividend and a yield of 7.76%. CTO Realty Growth’s payout ratio is presently 276.37%.

Insider Buying and Selling at CTO Realty Growth

In related news, major shareholder Cto Realty Growth, Inc. acquired 6,562 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were bought at an average price of $14.99 per share, for a total transaction of $98,364.38. Following the purchase, the insider now directly owns 202,918 shares in the company, valued at approximately $3,041,740.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders purchased a total of 21,804 shares of company stock worth $326,747 over the last ninety days. 5.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Asset Management One Co. Ltd. lifted its stake in CTO Realty Growth by 41.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 43,925 shares of the company’s stock valued at $774,000 after purchasing an additional 12,956 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of CTO Realty Growth by 19.1% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 24,976 shares of the company’s stock worth $433,000 after acquiring an additional 4,000 shares during the period. Grace & White Inc. NY boosted its stake in shares of CTO Realty Growth by 4.8% during the 4th quarter. Grace & White Inc. NY now owns 538,252 shares of the company’s stock worth $9,328,000 after acquiring an additional 24,889 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of CTO Realty Growth by 8.6% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 190,000 shares of the company’s stock worth $3,293,000 after acquiring an additional 15,000 shares during the last quarter. Finally, AJOVista LLC bought a new stake in CTO Realty Growth in the 4th quarter valued at $63,000. Institutional investors 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.