Commonwealth Equity Services LLC Sells 1,929 Shares of CTO Realty Growth, Inc. (NYSE:CTO)

Commonwealth Equity Services LLC trimmed its holdings in CTO Realty Growth, Inc. (NYSE:CTO) by 5.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 32,307 shares of the company’s stock after selling 1,929 shares during the quarter. Commonwealth Equity Services LLC’s holdings in CTO Realty Growth were worth $564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CTO. CWM LLC lifted its holdings in shares of CTO Realty Growth by 17.5% in the second quarter. CWM LLC now owns 4,527 shares of the company’s stock worth $79,000 after buying an additional 673 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in CTO Realty Growth by 3.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 22,200 shares of the company’s stock worth $385,000 after purchasing an additional 800 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of CTO Realty Growth by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,111 shares of the company’s stock valued at $392,000 after purchasing an additional 1,156 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of CTO Realty Growth during the first quarter valued at about $31,000. Finally, PNC Financial Services Group Inc. increased its holdings 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 worth $207,000 after purchasing an additional 1,925 shares during the last quarter. 67.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other CTO Realty Growth news, Director Christopher W. Haga sold 3,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $19.19, for a total transaction of $57,570.00. Following the transaction, the director now owns 44,988 shares in the company, valued at $863,319.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other CTO Realty Growth news, major shareholder Cto Realty Growth, Inc. purchased 6,562 shares of CTO Realty Growth stock in a transaction dated Tuesday, July 9th. The shares were purchased at an average cost of $14.99 per share, for a total transaction of $98,364.38. Following the completion of the acquisition, the insider now owns 202,918 shares in the company, valued at approximately $3,041,740.82. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher W. Haga sold 3,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $19.19, for a total value of $57,570.00. Following the transaction, the director now owns 44,988 shares of the company’s stock, valued at approximately $863,319.72. The disclosure for this sale can be found here. Insiders purchased a total of 20,783 shares of company stock worth $311,441 over the last three months. 5.00% of the stock is owned by insiders.

Analysts Set New Price Targets

CTO has been the subject of a number of research reports. Alliance Global Partners raised CTO Realty Growth to a “strong-buy” rating in a research note on Friday, July 26th. Raymond James increased their target price on CTO Realty Growth from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. One equities 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $20.33.

CTO Realty Growth Stock Performance

CTO Realty Growth stock opened at $19.19 on Friday. The company’s 50-day moving average price is $19.24 and its 200-day moving average price is $17.93. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 0.98. The company has a market cap of $440.33 million, a PE ratio of 34.93 and a beta of 0.76. CTO Realty Growth, Inc. has a twelve month low of $15.63 and a twelve month high of $21.15.

CTO Realty Growth (NYSE:CTO) last issued its quarterly earnings data on Thursday, July 25th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.42). The company had revenue of $28.85 million for the quarter, compared to the consensus estimate of $27.46 million. CTO Realty Growth had a return on equity of 3.55% and a net margin of 14.52%. During the same period in the previous year, the firm earned $0.48 earnings per share. On average, equities research analysts forecast that CTO Realty Growth, Inc. will post 1.77 EPS for the current fiscal year.

CTO Realty Growth Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 12th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.52 annualized dividend and a yield of 7.92%. CTO Realty Growth’s payout ratio is presently 276.36%.

About CTO Realty Growth

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.