CTO Realty Growth, Inc. to Issue Quarterly Dividend of $0.38 (NYSE:CTO)

CTO Realty Growth, Inc. (NYSE:CTO) declared a quarterly dividend on Tuesday, May 27th, RTT News reports. Investors of record on Thursday, June 12th will be paid a dividend of 0.38 per share on Monday, June 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.33%.

CTO Realty Growth has increased its dividend payment by an average of 2.6% annually over the last three years. CTO Realty Growth has a payout ratio of 633.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect CTO Realty Growth to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 79.6%.

CTO Realty Growth Stock Performance

Shares of NYSE:CTO traded down $0.01 during mid-day trading on Wednesday, reaching $18.25. 30,079 shares of the company traded hands, compared to its average volume of 297,292. The company’s 50 day moving average price is $18.17 and its 200-day moving average price is $19.14. The firm has a market cap of $601.16 million, a PE ratio of -82.97 and a beta of 0.76. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.96 and a quick ratio of 3.96. CTO Realty Growth has a 52 week low of $16.12 and a 52 week high of $21.15.

CTO Realty Growth (NYSE:CTO) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.48. The business had revenue of $35.74 million for the quarter, compared to analysts’ expectations of $33.39 million. CTO Realty Growth had a negative return on equity of 0.38% and a negative net margin of 1.58%. On average, equities analysts expect that CTO Realty Growth will post 1.92 EPS for the current fiscal year.

Institutional Trading of CTO Realty Growth

An institutional investor recently bought a new position in CTO Realty Growth stock. Jane Street Group LLC purchased a new stake in CTO Realty Growth, Inc. (NYSE:CTO) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 89,286 shares of the company’s stock, valued at approximately $1,724,000. Jane Street Group LLC owned about 0.27% of CTO Realty Growth at the end of the most recent quarter. Hedge funds and other institutional investors own 67.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CTO shares. Wall Street Zen downgraded shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Tuesday, May 13th. B. Riley reiterated a “buy” rating and issued a $23.00 price target (up from $22.50) on shares of CTO Realty Growth in a report on Wednesday, March 5th. Finally, Raymond James reaffirmed a “strong-buy” rating on shares of CTO Realty Growth in a research note on Friday.

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.