CTO Realty Growth (NYSE:CTO) Rating Increased 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 report report published on Wednesday, MarketBeat.com reports. The firm currently has $24.00 target price on the stock, up from their previous target price of $22.00.

A number of other research firms have also weighed in on CTO. Alliance Global Partners raised shares of CTO Realty Growth to a “strong-buy” rating in a report on Friday, July 26th. StockNews.com cut shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $21.00.

CTO Realty Growth Stock Up 1.6 %

Shares of CTO stock opened at $19.51 on Wednesday. The company’s fifty day simple moving average is $19.14 and its two-hundred day simple moving average is $18.39. CTO Realty Growth has a 52 week low of $15.78 and a 52 week high of $21.15. The stock has a market cap of $451.07 million, a P/E ratio of 33.07 and a beta of 0.76. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 0.98.

CTO Realty Growth (NYSE:CTO) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.27). CTO Realty Growth had a net margin of 14.52% and a return on equity of 3.55%. The firm had revenue of $31.81 million for the quarter, compared to the consensus estimate of $30.15 million. During the same period in the previous year, the company posted $0.48 earnings per share. Analysts predict that CTO Realty Growth will post 1.78 EPS for the current fiscal year.

CTO Realty Growth Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 12th were given a $0.38 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.52 dividend on an annualized basis and a yield of 7.79%. CTO Realty Growth’s dividend payout ratio is presently 257.63%.

Insider Buying and Selling

In related news, Director Christopher W. Haga sold 3,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 44,988 shares in the company, valued at $875,016.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.30% of the stock is owned by corporate insiders.

Institutional Trading of CTO Realty Growth

Institutional investors and hedge funds have recently modified their holdings of the stock. Farmers & Merchants Investments Inc. purchased a new position in CTO Realty Growth during the 2nd quarter worth $26,000. EntryPoint Capital LLC purchased a new position in shares of CTO Realty Growth during the first quarter valued at $31,000. Signaturefd LLC raised its holdings in shares of CTO Realty Growth by 45.4% in the third quarter. Signaturefd LLC now owns 1,785 shares of the company’s stock valued at $34,000 after acquiring an additional 557 shares in the last quarter. Copeland Capital Management LLC purchased a new stake in CTO Realty Growth in the third quarter worth about $49,000. Finally, CWM LLC increased its position in CTO Realty Growth by 17.5% during the 2nd quarter. CWM LLC now owns 4,527 shares of the company’s stock valued at $79,000 after purchasing an additional 673 shares during the period. 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.