Ingalls & Snyder LLC Reduces Stock Position in CTO Realty Growth, Inc. (NYSE:CTO)

Ingalls & Snyder LLC trimmed its position in CTO Realty Growth, Inc. (NYSE:CTO) by 6.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 371,803 shares of the company’s stock after selling 25,308 shares during the period. Ingalls & Snyder LLC’s holdings in CTO Realty Growth were worth $7,328,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Entropy Technologies LP acquired a new stake in shares of CTO Realty Growth during the fourth quarter worth $406,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in CTO Realty Growth by 27.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 30,644 shares of the company’s stock valued at $604,000 after buying an additional 6,662 shares during the period. State of Alaska Department of Revenue grew its holdings in CTO Realty Growth by 30.7% in the 4th quarter. State of Alaska Department of Revenue now owns 13,819 shares of the company’s stock valued at $272,000 after buying an additional 3,242 shares during the period. Longboard Asset Management LP acquired a new position in shares of CTO Realty Growth during the 4th quarter valued at about $212,000. Finally, EMC Capital Management lifted its holdings in shares of CTO Realty Growth by 448.8% during the 4th quarter. EMC Capital Management now owns 15,312 shares of the company’s stock worth $302,000 after acquiring an additional 12,522 shares during the period. 67.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on CTO shares. Raymond James upgraded CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $22.00 to $24.00 in a report on Wednesday, October 30th. StockNews.com downgraded CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Monday, October 28th.

CTO Realty Growth Price Performance

Shares of CTO opened at $20.38 on Thursday. CTO Realty Growth, Inc. has a 12 month low of $16.16 and a 12 month high of $21.15. The company has a market cap of $610.99 million, a P/E ratio of 34.54 and a beta of 0.78. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.96 and a quick ratio of 3.96. The stock has a fifty day moving average price of $19.76 and a 200 day moving average price of $19.55.

CTO Realty Growth Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, December 12th. This represents a $1.52 annualized dividend and a yield of 7.46%. CTO Realty Growth’s payout ratio is 257.63%.

CTO Realty Growth 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.