Renaissance Technologies LLC Reduces Stock Position in CTO Realty Growth, Inc. (NYSE:CTO)

Renaissance Technologies LLC decreased its position in shares of CTO Realty Growth, Inc. (NYSE:CTO) by 25.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 133,801 shares of the company’s stock after selling 46,800 shares during the period. Renaissance Technologies LLC’s holdings in CTO Realty Growth were worth $2,336,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Farmers & Merchants Investments Inc. acquired a new position in CTO Realty Growth during the second quarter worth $26,000. EntryPoint Capital LLC purchased a new position in shares of CTO Realty Growth in the first quarter valued at $31,000. CWM LLC raised its stake in shares of CTO Realty Growth by 17.5% during the 2nd quarter. CWM LLC now owns 4,527 shares of the company’s stock worth $79,000 after buying an additional 673 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of CTO Realty Growth in the 2nd quarter worth about $178,000. Finally, PNC Financial Services Group Inc. grew its position in shares of CTO Realty Growth by 19.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,963 shares of the company’s stock valued at $207,000 after purchasing an additional 1,925 shares during the last quarter. Institutional investors and hedge funds own 67.18% of the company’s stock.

CTO Realty Growth Stock Performance

Shares of CTO stock opened at $18.99 on Wednesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 3.42 and a current ratio of 3.42. The firm has a market capitalization of $435.74 million, a price-to-earnings ratio of 34.55 and a beta of 0.76. CTO Realty Growth, Inc. has a one year low of $15.63 and a one year high of $21.15. The company has a 50 day moving average price of $19.28 and a 200 day moving average price of $18.05.

CTO Realty Growth (NYSE:CTO) last released its quarterly earnings data on Thursday, July 25th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.42). CTO Realty Growth had a return on equity of 3.55% and a net margin of 14.52%. The firm had revenue of $28.85 million for the quarter, compared to analyst estimates of $27.46 million. During the same quarter in the previous year, the company earned $0.48 earnings per share. Sell-side analysts anticipate that CTO Realty Growth, Inc. will post 1.79 EPS for the current year.

CTO Realty Growth Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 12th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 8.00%. The ex-dividend date of this dividend was Thursday, September 12th. CTO Realty Growth’s dividend payout ratio (DPR) is presently 276.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Alliance Global Partners raised shares of CTO Realty Growth to a “strong-buy” rating in a research report on Friday, July 26th. Raymond James increased their target price on CTO Realty Growth from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, CTO Realty Growth currently has an average rating of “Buy” and an average price target of $20.33.

Insider Activity

In other news, major shareholder Cto Realty Growth, Inc. bought 6,562 shares of CTO Realty Growth stock in a transaction dated Tuesday, July 9th. The shares were acquired at an average cost of $14.99 per share, with a total value of $98,364.38. Following the completion of the transaction, the insider now owns 202,918 shares in the company, valued at approximately $3,041,740.82. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Cto Realty Growth, Inc. bought 6,562 shares of CTO Realty Growth stock in a transaction on Tuesday, July 9th. The shares were bought at an average price of $14.99 per share, with a total value of $98,364.38. Following the acquisition, the insider now directly owns 202,918 shares in the company, valued at approximately $3,041,740.82. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher W. Haga sold 3,000 shares of CTO Realty Growth stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $19.45, for a total transaction of $58,350.00. Following the completion of the transaction, the director now directly owns 44,988 shares of the company’s stock, valued at $875,016.60. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.

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.