CTO Realty Growth, Inc. (NYSE:CTO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of CTO Realty Growth, Inc. (NYSE:CTOGet Rating) have received a consensus recommendation of “Hold” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $24.40.

A number of analysts have recently weighed in on the company. Raymond James assumed coverage on CTO Realty Growth in a research note on Friday, June 17th. They set an “outperform” rating and a $23.00 price objective for the company. TheStreet lowered CTO Realty Growth from a “b-” rating to a “c” rating in a research note on Friday, May 20th. Jonestrading increased their price objective on CTO Realty Growth from $25.00 to $26.67 in a research note on Friday, April 29th. EF Hutton Acquisition Corp I increased their price objective on CTO Realty Growth from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Finally, BTIG Research set a $24.00 price target on CTO Realty Growth in a research note on Tuesday, July 19th.

CTO Realty Growth Stock Performance

NYSE:CTO opened at $21.49 on Monday. The stock has a market capitalization of $393.63 million, a price-to-earnings ratio of 16.83 and a beta of 0.76. CTO Realty Growth has a fifty-two week low of $17.43 and a fifty-two week high of $22.46. The company has a debt-to-equity ratio of 0.80, a quick ratio of 6.05 and a current ratio of 6.05. The company’s 50 day moving average is $40.55.

CTO Realty Growth Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 9th were paid a $0.3733 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date of this dividend was Wednesday, June 8th. CTO Realty Growth’s payout ratio is 116.71%.

Insiders Place Their Bets

In other news, major shareholder Cto Realty Growth, Inc. acquired 7,329 shares of the firm’s stock in a transaction on Monday, June 13th. The stock was acquired at an average price of $17.86 per share, for a total transaction of $130,895.94. Following the completion of the acquisition, the insider now owns 887,470 shares in the company, valued at $15,850,214.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Cto Realty Growth, Inc. acquired 7,329 shares of the firm’s stock in a transaction on Monday, June 13th. The stock was acquired at an average price of $17.86 per share, for a total transaction of $130,895.94. Following the completion of the acquisition, the insider now owns 887,470 shares in the company, valued at $15,850,214.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Blakeslee Gable acquired 1,245 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was purchased at an average price of $21.50 per share, with a total value of $26,767.50. Following the acquisition, the director now owns 25,331 shares of the company’s stock, valued at approximately $544,616.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 31,651 shares of company stock worth $603,454. 5.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CTO Realty Growth

Several institutional investors and hedge funds have recently modified their holdings of CTO. Allspring Global Investments Holdings LLC bought a new position in shares of CTO Realty Growth during the fourth quarter valued at $1,062,000. Daiwa Securities Group Inc. increased its holdings in CTO Realty Growth by 42.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,733 shares of the company’s stock worth $106,000 after buying an additional 513 shares in the last quarter. Boston Partners increased its holdings in CTO Realty Growth by 109.0% in the 4th quarter. Boston Partners now owns 12,453 shares of the company’s stock worth $765,000 after buying an additional 6,496 shares in the last quarter. Naples Global Advisors LLC increased its holdings in CTO Realty Growth by 6.2% in the 4th quarter. Naples Global Advisors LLC now owns 25,305 shares of the company’s stock worth $1,554,000 after buying an additional 1,475 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in CTO Realty Growth by 13.5% in the fourth quarter. First Trust Advisors LP now owns 10,747 shares of the company’s stock worth $660,000 after purchasing an additional 1,275 shares during the last quarter. 65.42% of the stock is currently owned by institutional investors.

About CTO Realty Growth

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CTO Realty Growth, Inc is a Florida-based publicly traded real estate company, which owns income properties comprised of approximately 2.4 million square feet in diversified markets in the United States and an approximately 23.5% interest in Alpine Income Property Trust, Inc, a publicly traded net lease real estate investment trust (NYSE: PINE).

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