Thrivent Financial for Lutherans Acquires New Shares in CTO Realty Growth, Inc. (NYSE:CTO)

Thrivent Financial for Lutherans bought a new position in CTO Realty Growth, Inc. (NYSE:CTO) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 237,067 shares of the company’s stock, valued at approximately $4,673,000.

Other hedge funds have also added to or reduced their stakes in the company. Truvestments Capital LLC boosted its position in shares of CTO Realty Growth by 0.4% in the third quarter. Truvestments Capital LLC now owns 155,734 shares of the company’s stock valued at $2,962,000 after acquiring an additional 551 shares during the period. The Manufacturers Life Insurance Company lifted its stake in CTO Realty Growth by 4.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,297 shares of the company’s stock worth $405,000 after purchasing an additional 915 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of CTO Realty Growth by 9.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,908 shares of the company’s stock valued at $254,000 after purchasing an additional 1,159 shares in the last quarter. Ingalls & Snyder LLC grew its position in shares of CTO Realty Growth by 0.3% during the 3rd quarter. Ingalls & Snyder LLC now owns 397,111 shares of the company’s stock valued at $7,553,000 after purchasing an additional 1,241 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in shares of CTO Realty Growth by 17.3% in the fourth quarter. Sanctuary Advisors LLC now owns 12,155 shares of the company’s stock worth $238,000 after purchasing an additional 1,796 shares during the period. Hedge funds and other institutional investors own 67.18% of the company’s stock.

CTO Realty Growth Trading Up 2.2 %

NYSE CTO opened at $19.29 on Tuesday. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.88. The stock’s 50-day simple moving average is $19.46 and its two-hundred day simple moving average is $19.53. CTO Realty Growth, Inc. has a twelve month low of $16.51 and a twelve month high of $21.15. The company has a market capitalization of $614.38 million, a price-to-earnings ratio of -87.70 and a beta of 0.77.

CTO Realty Growth (NYSE:CTO) last released its earnings results on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.48. CTO Realty Growth had a negative return on equity of 0.38% and a negative net margin of 1.58%. The company had revenue of $35.74 million during the quarter, compared to the consensus estimate of $33.39 million. Research analysts forecast that CTO Realty Growth, Inc. will post 1.92 EPS for the current fiscal year.

CTO Realty Growth Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 13th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 7.88%. The ex-dividend date of this dividend is Thursday, March 13th. CTO Realty Growth’s dividend payout ratio is currently -690.91%.

Analysts Set New Price Targets

Several research firms recently commented on CTO. StockNews.com cut CTO Realty Growth from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. B. Riley reissued a “buy” rating and set a $23.00 price objective (up previously from $22.50) on shares of CTO Realty Growth in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, CTO Realty Growth presently has an average rating of “Buy” and an average target price of $21.50.

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.