CTO Realty Growth (NYSE:CTO) Releases Quarterly Earnings Results, Misses Expectations By $0.39 EPS

CTO Realty Growth (NYSE:CTO) posted its earnings results on Tuesday. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.39), FiscalAI reports. CTO Realty Growth had a net margin of 32.63% and a return on equity of 8.90%. The firm had revenue of $46.91 million for the quarter, compared to the consensus estimate of $45.21 million.

CTO Realty Growth Trading Down 0.8%

Shares of NYSE:CTO traded down $0.15 during trading hours on Tuesday, hitting $19.48. 363,488 shares of the company’s stock traded hands, compared to its average volume of 330,827. CTO Realty Growth has a 1 year low of $16.17 and a 1 year high of $22.71. The business has a fifty day moving average price of $20.85 and a 200-day moving average price of $20.19. The firm has a market capitalization of $730.49 million, a P/E ratio of 14.33 and a beta of 0.60. The company has a debt-to-equity ratio of 0.99, a current ratio of 8.69 and a quick ratio of 8.69.

CTO Realty Growth Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.52 annualized dividend and a yield of 7.8%. CTO Realty Growth’s dividend payout ratio (DPR) is presently 111.76%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CTO shares. Huntington initiated coverage on shares of CTO Realty Growth in a research note on Tuesday, August 11th. They set an “outperform” rating and a $24.00 price target on the stock. Cantor Fitzgerald lifted their price objective on shares of CTO Realty Growth from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. JonesTrading restated a “buy” rating and issued a $24.00 target price on shares of CTO Realty Growth in a report on Thursday, October 1st. Weiss Ratings cut CTO Realty Growth from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 25th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $25.00 price objective on shares of CTO Realty Growth in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, CTO Realty Growth presently has a consensus rating of “Buy” and an average target price of $24.50.

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.