CTO Realty Growth, Inc. $CTO Stock: Virtus Advisers LLC Grows Position

Virtus Advisers LLC grew its holdings in CTO Realty Growth, Inc. (NYSE:CTO) by 1,005.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 61,558 shares of the company’s stock after buying an additional 55,990 shares during the period. Virtus Advisers LLC’s holdings in CTO Realty Growth were worth $1,261,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CTO. Lazard Asset Management LLC purchased a new stake in shares of CTO Realty Growth in the first quarter valued at about $1,449,000. Bank of New York Mellon Corp acquired a new stake in shares of CTO Realty Growth in the 2nd quarter worth approximately $3,691,000. Public Employees Retirement System of Ohio acquired a new stake in CTO Realty Growth in the second quarter valued at $1,240,000. Odyssean LLC purchased a new position in CTO Realty Growth during the 2nd quarter valued at about $1,082,000. Finally, BlackRock Inc. purchased a new position in CTO Realty Growth during the second quarter worth $77,576,000. 67.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Huntington initiated coverage on shares of CTO Realty Growth in a report on Tuesday, October 27th. They set a “strong-buy” rating for the company. Cantor Fitzgerald decreased their target price on shares of CTO Realty Growth from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, November 6th. Zacks Research cut CTO Realty Growth from a “strong-buy” rating to a “hold” rating in a report 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, Wall Street Zen downgraded CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $24.00.

CTO Realty Growth Stock Up 0.3%

Shares of CTO stock traded up $0.06 on Friday, hitting $20.30. The stock had a trading volume of 170,881 shares, compared to its average volume of 383,810. CTO Realty Growth, Inc. has a 52-week low of $17.02 and a 52-week high of $22.71. The firm has a market capitalization of $786.91 million, a price-to-earnings ratio of 17.81 and a beta of 0.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 6.06 and a current ratio of 6.06. The stock’s 50 day moving average is $20.38 and its 200-day moving average is $20.32.

CTO Realty Growth (NYSE:CTO) last posted its quarterly earnings results on Tuesday, October 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.39). The company had revenue of $46.91 million during the quarter, compared to analyst estimates of $45.21 million. CTO Realty Growth had a net margin of 26.12% and a return on equity of 7.15%. As a group, research analysts expect that CTO Realty Growth, Inc. will post 2.11 earnings per share for the current year.

CTO Realty Growth Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date was Thursday, September 10th. CTO Realty Growth’s payout ratio is 133.33%.

CTO Realty Growth Company Profile

CTO Realty Growth, Inc. is a real estate investment trust that acquires, owns and manages income-producing commercial properties. Its portfolio is focused primarily on open-air retail and mixed-use properties, including shopping centers and other retail-oriented real estate. The company invests in markets across the United States, with an emphasis on high-growth Sun Belt locations. It also holds an interest in Alpine Income Property Trust, a separately traded real estate investment trust focused on commercial net-lease properties.