CTO Realty Growth (NYSE:CTO) Announces Quarterly Earnings Results

CTO Realty Growth (NYSE:CTO) announced its quarterly earnings data on Thursday. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.42), Zacks reports. CTO Realty Growth had a return on equity of 3.59% 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 period in the prior year, the firm posted $0.48 earnings per share. CTO Realty Growth updated its FY 2024 guidance to 1.950-2.000 EPS.

CTO Realty Growth Stock Performance

Shares of CTO traded up $0.63 during mid-day trading on Friday, hitting $19.61. The stock had a trading volume of 207,037 shares, compared to its average volume of 144,264. The company has a market cap of $450.05 million, a PE ratio of 35.66 and a beta of 0.76. The company’s fifty day simple moving average is $17.84 and its two-hundred day simple moving average is $17.23. The company has a quick ratio of 4.74, a current ratio of 4.74 and a debt-to-equity ratio of 1.17. CTO Realty Growth has a fifty-two week low of $15.63 and a fifty-two week high of $19.76.

CTO Realty Growth Dividend Announcement

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 dividend of $0.38 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.52 dividend on an annualized basis and a yield of 7.75%. CTO Realty Growth’s dividend payout ratio (DPR) is presently 276.37%.

Analyst Ratings Changes

A number of equities analysts have recently commented on CTO shares. Jonestrading lowered their price objective on CTO Realty Growth from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Alliance Global Partners started coverage on CTO Realty Growth in a research note on Monday, April 8th. They set a “buy” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.33.

Insider Buying and Selling

In other news, major shareholder Cto Realty Growth, Inc. acquired 6,262 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were bought at an average price of $15.00 per share, with a total value of $93,930.00. Following the purchase, the insider now owns 196,356 shares of the company’s stock, valued at $2,945,340. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have purchased 21,804 shares of company stock valued at $326,747. Insiders own 5.00% 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.