Ingalls & Snyder LLC Acquires 1,241 Shares of CTO Realty Growth, Inc. (NYSE:CTO)

Ingalls & Snyder LLC grew its holdings in shares of CTO Realty Growth, Inc. (NYSE:CTO) by 0.3% during the third quarter, Holdings Channel reports. The firm owned 397,111 shares of the company’s stock after purchasing an additional 1,241 shares during the period. Ingalls & Snyder LLC’s holdings in CTO Realty Growth were worth $7,553,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farmers & Merchants Investments Inc. acquired a new position in CTO Realty Growth in the 2nd quarter valued at $26,000. Signaturefd LLC grew its stake in CTO Realty Growth by 45.4% in the 3rd quarter. Signaturefd LLC now owns 1,785 shares of the company’s stock valued at $34,000 after buying an additional 557 shares during the last quarter. Copeland Capital Management LLC acquired a new position in CTO Realty Growth in the 3rd quarter valued at $49,000. CWM LLC grew its stake in CTO Realty Growth by 17.5% in the 2nd quarter. CWM LLC now owns 4,527 shares of the company’s stock valued at $79,000 after buying an additional 673 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in CTO Realty Growth in the 3rd quarter valued at $176,000. 67.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CTO Realty Growth

In related news, CEO John P. Albright sold 29,488 shares of CTO Realty Growth stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $20.71, for a total transaction of $610,696.48. Following the completion of the transaction, the chief executive officer now directly owns 570,554 shares of the company’s stock, valued at $11,816,173.34. This trade represents a 4.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher W. Haga sold 3,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $19.45, for a total transaction of $58,350.00. Following the completion of the transaction, the director now directly owns 44,988 shares of the company’s stock, valued at approximately $875,016.60. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. StockNews.com lowered shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Raymond James upgraded shares of CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $22.00 to $24.00 in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, CTO Realty Growth presently has an average rating of “Buy” and an average price target of $21.00.

CTO Realty Growth Stock Performance

NYSE CTO traded up $0.05 during midday trading on Tuesday, hitting $20.26. The company had a trading volume of 20,693 shares, compared to its average volume of 258,767. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.88. The stock has a market cap of $607.39 million, a price-to-earnings ratio of 34.25 and a beta of 0.77. The firm has a fifty day simple moving average of $19.49 and a two-hundred day simple moving average of $18.85. CTO Realty Growth, Inc. has a fifty-two week low of $16.16 and a fifty-two week high of $21.15.

CTO Realty Growth (NYSE:CTO) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.27). The business had revenue of $31.81 million for the quarter, compared to the consensus estimate of $30.15 million. CTO Realty Growth had a return on equity of 4.04% and a net margin of 17.10%. During the same period in the previous year, the business posted $0.48 earnings per share. Equities analysts forecast that CTO Realty Growth, Inc. will post 1.8 earnings per share for the current fiscal year.

CTO Realty Growth Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, December 12th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.50%. The ex-dividend date is Thursday, December 12th. CTO Realty Growth’s dividend payout ratio is currently 257.63%.

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.