CTO Realty Growth (NYSE:CTO) Share Price Breaks Above 200-Day Moving Average – Here’s Why

Shares of CTO Realty Growth, Inc. (NYSE:CTO) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $20.24 and traded as high as $20.60. CTO Realty Growth shares last traded at $20.4640, with a volume of 380,114 shares traded.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Alliance Global Partners reissued a “buy” rating on shares of CTO Realty Growth in a research note on Wednesday, July 29th. Wall Street Zen downgraded CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Zacks Research downgraded CTO Realty Growth from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Weiss Ratings cut CTO Realty Growth from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. Finally, JonesTrading reiterated a “buy” rating and set a $24.00 target price on shares of CTO Realty Growth in a research report on Thursday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, CTO Realty Growth presently has an average rating of “Buy” and an average price target of $24.50.

CTO Realty Growth Price Performance

The company has a current ratio of 6.06, a quick ratio of 6.06 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $793.18 million, a PE ratio of 17.95 and a beta of 0.63. The stock’s 50-day moving average is $20.55 and its two-hundred day moving average is $20.24.

CTO Realty Growth (NYSE:CTO) last released its earnings results on Tuesday, October 27th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.39). CTO Realty Growth had a net margin of 26.12% and a return on equity of 7.15%. The business had revenue of $46.91 million for the quarter, compared to the consensus estimate of $45.21 million. On average, equities analysts predict that CTO Realty Growth, Inc. will post 2.11 EPS for the current year.

CTO Realty Growth Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.4%. The ex-dividend date was Thursday, September 10th. CTO Realty Growth’s dividend payout ratio is currently 133.33%.

Institutional Investors Weigh In On CTO Realty Growth

Several large investors have recently modified their holdings of CTO. GAMMA Investing LLC lifted its holdings in CTO Realty Growth by 29.9% during the third quarter. GAMMA Investing LLC now owns 2,868 shares of the company’s stock worth $59,000 after buying an additional 660 shares during the period. Triumph Capital Management boosted its position in CTO Realty Growth by 37.2% during the third quarter. Triumph Capital Management now owns 3,320 shares of the company’s stock valued at $68,000 after purchasing an additional 900 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of CTO Realty Growth during the second quarter valued at about $70,000. Integrated Wealth Concepts LLC purchased a new position in CTO Realty Growth in the second quarter worth $101,000. Finally, Virtus Advisers LLC purchased a new stake in shares of CTO Realty Growth during the 2nd quarter valued at $120,000. Institutional investors own 67.18% of the company’s stock.

About CTO Realty Growth

CTO Realty Growth, Inc is an internally managed real estate investment trust (REIT) that owns, manages and invests in income-producing commercial real estate. The company’s portfolio is focused primarily on open-air shopping centers and other retail properties, including locations anchored by grocery stores, home-improvement retailers and other necessity-based tenants.

The company also makes structured investments in commercial real estate and may pursue additional property investments in select markets.