Black Swift Group LLC Buys Shares of 28,390 CTO Realty Growth, Inc. (NYSE:CTO)

Black Swift Group LLC bought a new stake in shares of CTO Realty Growth, Inc. (NYSE:CTO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 28,390 shares of the company’s stock, valued at approximately $560,000.

Other hedge funds have also added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in CTO Realty Growth during the 3rd quarter valued at $94,000. Cornerstone Investment Partners LLC purchased a new stake in CTO Realty Growth during the 4th quarter valued at $201,000. Sanctuary Advisors LLC purchased a new stake in CTO Realty Growth during the 3rd quarter valued at $205,000. Longboard Asset Management LP purchased a new stake in CTO Realty Growth during the 4th quarter valued at $212,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in CTO Realty Growth during the 3rd quarter valued at $205,000. 67.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CTO. B. Riley reiterated a “buy” rating and set a $23.00 target price (up from $22.50) on shares of CTO Realty Growth in a research note on Wednesday. StockNews.com lowered CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. One investment analyst has rated the stock with a sell rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, CTO Realty Growth presently has an average rating of “Buy” and an average target price of $21.50.

CTO Realty Growth Trading Down 0.6 %

NYSE:CTO opened at $18.74 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.96 and a quick ratio of 3.96. The firm has a market capitalization of $596.74 million, a price-to-earnings ratio of -85.18 and a beta of 0.78. CTO Realty Growth, Inc. has a one year low of $16.33 and a one year high of $21.15. The business has a fifty day moving average price of $19.62 and a 200-day moving average price of $19.54.

CTO Realty Growth (NYSE:CTO) last issued its earnings results on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.48. The company had revenue of $35.74 million during the quarter, compared to the consensus estimate of $33.39 million. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. Sell-side analysts forecast that CTO Realty Growth, Inc. will post 1.92 EPS for the current year.

CTO Realty Growth Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 13th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 8.11%. The ex-dividend date is Thursday, March 13th. CTO Realty Growth’s dividend payout ratio is currently -690.91%.

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.