CTO Realty Growth (NYSE:CTO) Given New $22.00 Price Target at Raymond James

CTO Realty Growth (NYSE:CTO) had its price objective raised by Raymond James from $20.00 to $22.00 in a report released on Friday morning, Benzinga reports. Raymond James currently has an outperform rating on the stock.

Several other equities research analysts have also commented on the stock. Alliance Global Partners upgraded shares of CTO Realty Growth to a strong-buy rating in a research note on Friday, July 26th. Jonestrading cut their price target on shares of CTO Realty Growth from $21.00 to $19.00 and set a buy rating on the stock in a research note on Monday, May 6th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $20.33.

CTO Realty Growth Price Performance

Shares of CTO opened at $19.13 on Friday. The firm’s fifty day simple moving average is $18.42 and its 200-day simple moving average is $17.53. CTO Realty Growth has a twelve month low of $15.63 and a twelve month high of $20.28. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $438.96 million, a price-to-earnings ratio of 34.78 and a beta of 0.76.

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

CTO Realty Growth Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.52 dividend on an annualized basis and a yield of 7.95%. CTO Realty Growth’s dividend payout ratio is presently 276.36%.

Insider Buying and Selling at CTO Realty Growth

In other CTO Realty Growth news, major shareholder Cto Realty Growth, Inc. acquired 6,262 shares of the company’s stock in a transaction on Friday, July 5th. The shares were bought at an average cost of $15.00 per share, for a total transaction of $93,930.00. Following the completion of the purchase, the insider now owns 196,356 shares in the company, valued at approximately $2,945,340. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have acquired 21,804 shares of company stock worth $326,747. 5.00% of the stock is owned by company insiders.

Institutional Trading of CTO Realty Growth

Several hedge funds and other institutional investors have recently made changes to their positions in CTO. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of CTO Realty Growth by 19.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 24,976 shares of the company’s stock valued at $433,000 after acquiring an additional 4,000 shares in the last quarter. Grace & White Inc. NY boosted its holdings in shares of CTO Realty Growth by 4.8% in the fourth quarter. Grace & White Inc. NY now owns 538,252 shares of the company’s stock valued at $9,328,000 after acquiring an additional 24,889 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of CTO Realty Growth by 8.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 190,000 shares of the company’s stock valued at $3,293,000 after acquiring an additional 15,000 shares in the last quarter. AJOVista LLC purchased a new stake in shares of CTO Realty Growth in the fourth quarter valued at about $63,000. Finally, Jump Financial LLC purchased a new stake in shares of CTO Realty Growth in the fourth quarter valued at about $192,000. 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.