CTO Realty Growth, Inc. (NYSE:CTO) Given Consensus Rating of “Buy” by Analysts

Shares of CTO Realty Growth, Inc. (NYSE:CTO) have earned a consensus recommendation of “Buy” from the five ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $22.00.

CTO has been the topic of several recent analyst reports. Zacks Research upgraded CTO Realty Growth to a “strong-buy” rating in a research report on Tuesday. Weiss Ratings reiterated a “sell (d+)” rating on shares of CTO Realty Growth in a research report on Wednesday, October 8th. Finally, Jones Trading reduced their target price on CTO Realty Growth from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, July 30th.

Insider Activity at CTO Realty Growth

In related news, CEO John P. Albright bought 4,200 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were acquired at an average cost of $16.53 per share, for a total transaction of $69,426.00. Following the acquisition, the chief executive officer owned 632,547 shares in the company, valued at $10,456,001.91. This represents a 0.67% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders bought 8,950 shares of company stock valued at $147,739. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On CTO Realty Growth

Hedge funds have recently modified their holdings of the stock. New York State Teachers Retirement System purchased a new stake in shares of CTO Realty Growth during the 1st quarter valued at about $51,000. Tower Research Capital LLC TRC raised its holdings in shares of CTO Realty Growth by 51.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,654 shares of the company’s stock valued at $63,000 after buying an additional 1,245 shares during the period. Police & Firemen s Retirement System of New Jersey grew its stake in CTO Realty Growth by 24.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 7,050 shares of the company’s stock valued at $122,000 after purchasing an additional 1,377 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in CTO Realty Growth by 17.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 10,162 shares of the company’s stock valued at $175,000 after purchasing an additional 1,496 shares in the last quarter. Finally, M&G PLC acquired a new stake in CTO Realty Growth during the 2nd quarter valued at approximately $195,000. 67.18% of the stock is currently owned by hedge funds and other institutional investors.

CTO Realty Growth Stock Up 1.9%

CTO opened at $16.14 on Thursday. The company has a quick ratio of 4.94, a current ratio of 4.94 and a debt-to-equity ratio of 1.05. The firm has a market cap of $531.49 million, a P/E ratio of -14.03 and a beta of 0.75. CTO Realty Growth has a 52 week low of $15.06 and a 52 week high of $20.88. The business’s fifty day simple moving average is $16.38 and its 200 day simple moving average is $17.25.

CTO Realty Growth Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Thursday, September 11th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date was Thursday, September 11th. CTO Realty Growth’s dividend payout ratio (DPR) is -132.17%.

CTO Realty Growth declared that its board has approved a share repurchase program on Wednesday, September 24th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.