CTO Realty Growth (NYSE:CTO) Updates FY 2024 Earnings Guidance

CTO Realty Growth (NYSE:CTO) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.830-1.870 for the period, compared to the consensus EPS estimate of 1.840. The company issued revenue guidance of -.

Analysts Set New Price Targets

Several research firms have recently issued reports on CTO. Alliance Global Partners raised CTO Realty Growth to a “strong-buy” rating in a research report on Friday, July 26th. Raymond James increased their price target on shares of CTO Realty Growth from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CTO Realty Growth presently has a consensus rating of “Buy” and an average target price of $20.33.

CTO Realty Growth Stock Performance

Shares of CTO traded down $0.16 during midday trading on Friday, reaching $19.56. 441,511 shares of the stock were exchanged, compared to its average volume of 232,849. CTO Realty Growth has a twelve month low of $15.64 and a twelve month high of $21.15. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.42 and a quick ratio of 3.42. The company has a market capitalization of $448.82 million, a price-to-earnings ratio of 35.56 and a beta of 0.76. The business’s 50-day moving average price is $19.13 and its 200 day moving average price is $18.34.

CTO Realty Growth (NYSE:CTO) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.27). The firm had revenue of $31.81 million for the quarter, compared to analyst estimates of $30.15 million. CTO Realty Growth had a return on equity of 3.55% and a net margin of 14.52%. During the same period last year, the firm earned $0.48 EPS. On average, sell-side analysts expect that CTO Realty Growth will post 1.78 EPS 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. Investors of record on Thursday, September 12th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 7.77%. The ex-dividend date of this dividend was Thursday, September 12th. CTO Realty Growth’s dividend payout ratio is currently 276.36%.

Insiders Place Their Bets

In other CTO Realty Growth news, Director Christopher W. Haga sold 3,000 shares of the company’s stock in a transaction that occurred on 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.00% of the stock is currently owned by insiders.

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.