10,424 Shares in CTO Realty Growth, Inc. (NYSE:CTO) Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new stake in CTO Realty Growth, Inc. (NYSE:CTO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,424 shares of the company’s stock, valued at approximately $203,000.

Other institutional investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. grew its stake in shares of CTO Realty Growth by 32.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,666 shares of the company’s stock worth $171,000 after acquiring an additional 2,118 shares during the last quarter. Cornerstone Investment Partners LLC bought a new stake in CTO Realty Growth in the 4th quarter valued at $201,000. Sanctuary Advisors LLC acquired a new stake in CTO Realty Growth in the 3rd quarter worth $205,000. Longboard Asset Management LP bought a new position in shares of CTO Realty Growth during the 4th quarter worth about $212,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of CTO Realty Growth during the third quarter valued at about $221,000. 67.18% of the stock is owned by institutional investors.

CTO Realty Growth Price Performance

NYSE:CTO opened at $17.45 on Friday. 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 company has a 50-day moving average of $19.03 and a 200-day moving average of $19.42. CTO Realty Growth, Inc. has a 52 week low of $16.12 and a 52 week high of $21.15. The company has a market capitalization of $555.56 million, a price-to-earnings ratio of -79.30 and a beta of 0.61.

CTO Realty Growth (NYSE:CTO) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.48. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. The firm had revenue of $35.74 million during the quarter, compared to analysts’ expectations of $33.39 million. As a group, equities research analysts anticipate that CTO Realty Growth, Inc. will post 1.92 earnings per share for the current fiscal year.

CTO Realty Growth Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 13th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 8.71%. The ex-dividend date of this dividend was Thursday, March 13th. CTO Realty Growth’s dividend payout ratio is -690.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CTO shares. StockNews.com downgraded CTO Realty Growth from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. B. Riley reissued a “buy” rating and set a $23.00 price objective (up previously from $22.50) on shares of CTO Realty Growth in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target 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.