CTO Realty Growth (NYSE:CTO) Upgraded to Strong-Buy at Raymond James

Raymond James upgraded shares of CTO Realty Growth (NYSE:CTO) from an outperform rating to a strong-buy rating in a research note released on Wednesday morning, Marketbeat reports. Raymond James currently has $24.00 price target on the stock, up from their prior price target of $22.00.

A number of other equities analysts have also recently issued reports on CTO. StockNews.com cut CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Alliance Global Partners upgraded CTO Realty Growth to a “strong-buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, CTO Realty Growth presently has a consensus rating of “Buy” and a consensus price target of $21.00.

CTO Realty Growth Stock Performance

CTO opened at $19.38 on Wednesday. The stock’s 50 day simple moving average is $19.17 and its 200-day simple moving average is $18.40. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 0.88. The stock has a market cap of $448.07 million, a PE ratio of 32.85 and a beta of 0.76. CTO Realty Growth has a 1 year low of $16.14 and a 1 year high of $21.15.

CTO Realty Growth (NYSE:CTO) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.27). CTO Realty Growth had a net margin of 17.10% and a return on equity of 4.04%. The business had revenue of $31.81 million during the quarter, compared to analyst estimates of $30.15 million. During the same quarter in the prior year, the company posted $0.48 EPS. Sell-side analysts forecast that CTO Realty Growth will post 1.79 EPS for the current year.

CTO Realty Growth Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 12th were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.52 annualized dividend and a yield of 7.84%. CTO Realty Growth’s payout ratio is 257.63%.

Insider Transactions at CTO Realty Growth

In related news, Director Christopher W. Haga sold 3,000 shares of CTO Realty Growth stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $19.19, for a total value of $57,570.00. Following the completion of the transaction, the director now directly owns 44,988 shares of the company’s stock, valued at $863,319.72. The trade was 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. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On CTO Realty Growth

Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of CTO Realty Growth by 19.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,963 shares of the company’s stock worth $207,000 after buying an additional 1,925 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of CTO Realty Growth by 4.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 34,236 shares of the company’s stock worth $580,000 after purchasing an additional 1,346 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of CTO Realty Growth by 11.9% during the first quarter. Russell Investments Group Ltd. now owns 393,252 shares of the company’s stock worth $6,666,000 after purchasing an additional 41,938 shares during the period. Vanguard Group Inc. increased its holdings in CTO Realty Growth by 0.5% in the first quarter. Vanguard Group Inc. now owns 1,079,798 shares of the company’s stock valued at $18,303,000 after purchasing an additional 5,617 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in CTO Realty Growth in the first quarter valued at about $31,000. 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.