Black Swift Group LLC Makes New Investment in CTO Realty Growth, Inc. (NYSE:CTO)

Black Swift Group LLC acquired a new position in CTO Realty Growth, Inc. (NYSE:CTO) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 28,390 shares of the company’s stock, valued at approximately $560,000. Black Swift Group LLC owned 0.09% of CTO Realty Growth at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CTO. Creative Planning purchased a new stake in CTO Realty Growth in the third quarter worth about $237,000. Asset Management One Co. Ltd. lifted its holdings in CTO Realty Growth by 3.7% in the third quarter. Asset Management One Co. Ltd. now owns 57,754 shares of the company’s stock worth $1,098,000 after buying an additional 2,037 shares during the period. Principal Financial Group Inc. purchased a new stake in CTO Realty Growth in the third quarter worth about $253,000. Los Angeles Capital Management LLC purchased a new stake in CTO Realty Growth in the third quarter worth about $1,794,000. Finally, GSA Capital Partners LLP bought a new position in shares of CTO Realty Growth during the third quarter valued at approximately $223,000. 67.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CTO. B. Riley reaffirmed a “buy” rating and set a $23.00 target price (up previously from $22.50) on shares of CTO Realty Growth in a research note on Wednesday. StockNews.com downgraded shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. One equities research analyst has rated the stock with a sell rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $21.50.

CTO Realty Growth Price Performance

Shares of CTO opened at $18.74 on Thursday. CTO Realty Growth, Inc. has a twelve month low of $16.33 and a twelve month high of $21.15. The company has a market capitalization of $596.74 million, a P/E ratio of -85.18 and a beta of 0.78. The firm has a 50 day moving average of $19.62 and a 200 day moving average of $19.54. 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 announced its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.48. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. The company had revenue of $35.74 million during the quarter, compared to analyst estimates of $33.39 million. As a group, equities research analysts anticipate that CTO Realty Growth, Inc. will post 1.92 earnings per share for the current fiscal year.

CTO Realty Growth Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 13th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a yield of 8.11%. CTO Realty Growth’s payout ratio is currently -690.91%.

CTO Realty Growth 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.