CTO Realty Growth (NYSE:CTO) Stock Price Target Lowered at Cantor Fitzgerald

CTO Realty Growth (NYSE:CTO) had its price objective reduced by Cantor Fitzgerald from $25.00 to $23.00 in a research note published on Friday morning, MarketBeat Ratings reports. They currently have an overweight rating on the stock.

CTO has been the subject of several other reports. Wall Street Zen lowered shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Weiss Ratings downgraded shares of CTO Realty Growth from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. JonesTrading restated a “buy” rating and issued a $24.00 target price on shares of CTO Realty Growth in a report on Thursday, October 1st. Huntington started coverage on shares of CTO Realty Growth in a report on Tuesday, October 27th. They issued a “strong-buy” rating for the company. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of CTO Realty Growth in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $24.00.

CTO Realty Growth Trading Up 0.4%

CTO stock traded up $0.08 during mid-day trading on Friday, reaching $20.24. 462,705 shares of the stock traded hands, compared to its average volume of 364,753. CTO Realty Growth has a one year low of $17.02 and a one year high of $22.71. The business has a 50-day moving average price of $20.49 and a two-hundred day moving average price of $20.26. The stock has a market capitalization of $784.50 million, a PE ratio of 17.75 and a beta of 0.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 6.06 and a current ratio of 6.06.

CTO Realty Growth (NYSE:CTO) last posted its quarterly earnings results on Tuesday, October 27th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.39). CTO Realty Growth had a net margin of 26.12% and a return on equity of 7.15%. The company had revenue of $46.91 million for the quarter, compared to the consensus estimate of $45.21 million. Equities research analysts expect that CTO Realty Growth will post 2.11 EPS for the current year.

CTO Realty Growth Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 10th were issued a $0.38 dividend. The ex-dividend date was Thursday, September 10th. This represents a $1.52 dividend on an annualized basis and a yield of 7.5%. CTO Realty Growth’s dividend payout ratio (DPR) is 133.33%.

Institutional Investors Weigh In On CTO Realty Growth

Large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in CTO Realty Growth during the 2nd quarter worth approximately $77,576,000. Miller Value Partners LLC purchased a new stake in CTO Realty Growth during the 2nd quarter worth about $11,613,000. Dimensional Fund Advisors LP lifted its holdings in CTO Realty Growth by 6.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 443,746 shares of the company’s stock worth $8,205,000 after buying an additional 24,989 shares during the last quarter. Man Group plc purchased a new position in CTO Realty Growth in the second quarter valued at approximately $8,160,000. Finally, Renaissance Technologies LLC raised its holdings in CTO Realty Growth by 0.9% during the first quarter. Renaissance Technologies LLC now owns 212,300 shares of the company’s stock worth $3,925,000 after purchasing an additional 1,799 shares in the last quarter. Hedge funds and other institutional investors own 67.18% of the company’s stock.

About CTO Realty Growth

CTO Realty Growth, Inc is an internally managed real estate investment trust (REIT) that owns, manages and invests in income-producing commercial real estate. The company’s portfolio is focused primarily on open-air shopping centers and other retail properties, including locations anchored by grocery stores, home-improvement retailers and other necessity-based tenants.

The company also makes structured investments in commercial real estate and may pursue additional property investments in select markets.