The Manufacturers Life Insurance Company Buys 1,340 Shares of CTO Realty Growth, Inc. (NYSE:CTO)

The Manufacturers Life Insurance Company grew its stake in shares of CTO Realty Growth, Inc. (NYSE:CTO) by 7.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,382 shares of the company’s stock after acquiring an additional 1,340 shares during the period. The Manufacturers Life Insurance Company owned about 0.09% of CTO Realty Growth worth $356,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CTO. Farmers & Merchants Investments Inc. purchased a new position in CTO Realty Growth during the 2nd quarter worth $26,000. EntryPoint Capital LLC bought a new position in shares of CTO Realty Growth during the 1st quarter worth $31,000. CWM LLC increased its stake in shares of CTO Realty Growth by 17.5% during the second quarter. CWM LLC now owns 4,527 shares of the company’s stock valued at $79,000 after buying an additional 673 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of CTO Realty Growth in the second quarter valued at about $178,000. Finally, Concorde Asset Management LLC purchased a new stake in CTO Realty Growth in the second quarter worth about $204,000. Institutional investors own 67.18% of the company’s stock.

CTO Realty Growth Price Performance

CTO opened at $19.41 on Friday. The firm has a market capitalization of $445.38 million, a PE ratio of 35.29 and a beta of 0.76. The business’s 50-day moving average is $19.10 and its two-hundred day moving average is $18.23. CTO Realty Growth, Inc. has a 1 year low of $15.64 and a 1 year high of $21.15. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.42 and a quick ratio of 3.42.

CTO Realty Growth (NYSE:CTO) last posted its quarterly earnings data on Thursday, July 25th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.42). The firm 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 quarter last year, the firm earned $0.48 EPS. Research analysts anticipate that CTO Realty Growth, Inc. will post 1.78 earnings per share for the current fiscal year.

CTO Realty Growth Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 12th were given a $0.38 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.83%. CTO Realty Growth’s payout ratio is 276.36%.

Insider Transactions at CTO Realty Growth

In other CTO Realty Growth news, Director Christopher W. Haga sold 3,000 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $19.45, for a total value of $58,350.00. Following the completion of the sale, the director now directly owns 44,988 shares in the company, valued at approximately $875,016.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CTO has been the subject of several recent research reports. Alliance Global Partners upgraded shares of CTO Realty Growth to a “strong-buy” rating in a report on Friday, July 26th. Raymond James lifted their price objective on shares of CTO Realty Growth from $20.00 to $22.00 and gave the company an “outperform” rating in a 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $20.33.

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.