Cutler Capital Management LLC Boosts Stake in CTO Realty Growth, Inc. (NYSE:CTO)

Cutler Capital Management LLC raised its position in CTO Realty Growth, Inc. (NYSE:CTO) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,766 shares of the company’s stock after purchasing an additional 3,600 shares during the quarter. Cutler Capital Management LLC owned 0.60% of CTO Realty Growth worth $3,543,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in CTO Realty Growth by 118.6% in the fourth quarter. Vanguard Group Inc. now owns 2,514,789 shares of the company’s stock valued at $49,566,000 after purchasing an additional 1,364,637 shares during the period. Geode Capital Management LLC lifted its stake in shares of CTO Realty Growth by 30.9% in the fourth quarter. Geode Capital Management LLC now owns 679,893 shares of the company’s stock worth $13,403,000 after acquiring an additional 160,593 shares in the last quarter. Invesco Ltd. raised its position in shares of CTO Realty Growth by 681.9% in the 4th quarter. Invesco Ltd. now owns 468,556 shares of the company’s stock valued at $9,235,000 after purchasing an additional 408,632 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in CTO Realty Growth by 143.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 392,102 shares of the company’s stock valued at $7,728,000 after acquiring an additional 230,811 shares during the last quarter. Finally, APG Asset Management US Inc. bought a new position in shares of CTO Realty Growth during the fourth quarter worth about $6,500,000. 67.18% of the stock is owned by institutional investors and hedge funds.

CTO Realty Growth Price Performance

Shares of CTO opened at $16.85 on Wednesday. CTO Realty Growth, Inc. has a one year low of $16.51 and a one year high of $21.15. The stock’s fifty day moving average is $19.22 and its 200-day moving average is $19.46. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.96 and a current ratio of 3.96. The firm has a market capitalization of $536.55 million, a price-to-earnings ratio of -76.59 and a beta of 0.61.

CTO Realty Growth (NYSE:CTO) last released its earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.01 by $0.48. The firm had revenue of $35.74 million for the quarter, compared to analysts’ expectations of $33.39 million. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. Equities analysts anticipate that CTO Realty Growth, Inc. will post 1.92 EPS for the current year.

CTO Realty Growth Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 13th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 9.02%. The ex-dividend date of this dividend was Thursday, March 13th. CTO Realty Growth’s payout ratio is currently -690.91%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CTO shares. StockNews.com downgraded shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. B. Riley reiterated a “buy” rating and issued a $23.00 target price (up from $22.50) on shares of CTO Realty Growth in a research note on Wednesday, March 5th. 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $22.00.

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.