CTO Realty Growth (CTO) Set to Announce Earnings on Thursday

CTO Realty Growth (NYSE:CTO) is scheduled to be releasing its earnings data after the market closes on Thursday, October 24th. Analysts expect CTO Realty Growth to post earnings of $0.44 per share for the quarter. CTO Realty Growth has set its FY 2024 guidance at 1.950-2.000 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

CTO Realty Growth (NYSE:CTO) last posted 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 during the quarter, compared to analyst estimates of $27.46 million. CTO Realty Growth had a net margin of 14.52% and a return on equity of 3.55%. During the same quarter in the previous year, the business posted $0.48 EPS. On average, analysts expect CTO Realty Growth to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

CTO Realty Growth Trading Up 1.7 %

CTO opened at $19.61 on Thursday. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $449.97 million, a PE ratio of 35.65 and a beta of 0.76. CTO Realty Growth has a 1-year low of $15.64 and a 1-year high of $21.15. The firm has a 50-day moving average price of $19.11 and a two-hundred day moving average price of $18.22.

CTO Realty Growth Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 12th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 7.75%. The ex-dividend date was Thursday, September 12th. CTO Realty Growth’s payout ratio is presently 276.36%.

Insider Transactions at CTO Realty Growth

In related news, Director Christopher W. Haga sold 3,000 shares of CTO Realty Growth stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $19.45, for a total transaction of $58,350.00. Following the transaction, the director now owns 44,988 shares of the company’s stock, valued at $875,016.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on CTO shares. Alliance Global Partners upgraded shares of CTO Realty Growth to a “strong-buy” rating in a research report on Friday, July 26th. Raymond James lifted their price target on shares of 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 equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $20.33.

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.