CTO Realty Growth (NYSE:CTO) Downgraded to “Sell” at StockNews.com

StockNews.com lowered shares of CTO Realty Growth (NYSE:CTO) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

A number of other equities research analysts have also issued reports on CTO. Alliance Global Partners raised shares of CTO Realty Growth to a “strong-buy” rating in a research note on Friday, July 26th. Raymond James lifted their price objective on CTO Realty Growth from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.33.

CTO Realty Growth Stock Down 1.3 %

NYSE:CTO opened at $19.31 on Monday. The business’s fifty day moving average price is $19.13 and its 200 day moving average price is $18.37. The firm has a market capitalization of $442.97 million, a price-to-earnings ratio of 35.10 and a beta of 0.76. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 0.98. CTO Realty Growth has a 1-year low of $15.64 and a 1-year high of $21.15.

CTO Realty Growth (NYSE:CTO) last issued its earnings results on Thursday, October 24th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.27). The business had revenue of $31.81 million during the quarter, compared to analyst estimates of $30.15 million. CTO Realty Growth had a net margin of 14.52% and a return on equity of 3.55%. During the same quarter in the prior year, the company earned $0.48 EPS. On average, sell-side analysts forecast that CTO Realty Growth will post 1.78 earnings per share for the current fiscal year.

CTO Realty Growth Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 12th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.52 annualized dividend and a dividend yield of 7.87%. CTO Realty Growth’s dividend payout ratio (DPR) is 276.36%.

Insider Activity

In other CTO Realty Growth news, Director Christopher W. Haga sold 3,000 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $19.45, for a total transaction of $58,350.00. Following the transaction, the director now directly owns 44,988 shares of the company’s stock, valued at $875,016.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.00% of the stock is owned by insiders.

Institutional Investors Weigh In On CTO Realty Growth

A number of large investors have recently added to or reduced their stakes in the stock. Farmers & Merchants Investments Inc. acquired a new stake in shares of CTO Realty Growth in the second quarter worth $26,000. EntryPoint Capital LLC bought a new position in CTO Realty Growth in the 1st quarter worth $31,000. Signaturefd LLC lifted its position in shares of CTO Realty Growth by 45.4% during the 3rd quarter. Signaturefd LLC now owns 1,785 shares of the company’s stock worth $34,000 after purchasing an additional 557 shares during the last quarter. Copeland Capital Management LLC acquired a new position in shares of CTO Realty Growth during the third quarter worth approximately $49,000. Finally, CWM LLC raised its stake in CTO Realty Growth by 17.5% during the 2nd quarter. CWM LLC now owns 4,527 shares of the company’s stock valued at $79,000 after purchasing an additional 673 shares during the last quarter. Institutional investors own 67.18% of the company’s stock.

About CTO Realty Growth

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.