B. Riley Weighs in on CTO Realty Growth, Inc.’s Q3 2024 Earnings (NYSE:CTO)

CTO Realty Growth, Inc. (NYSE:CTO) – Research analysts at B. Riley issued their Q3 2024 EPS estimates for CTO Realty Growth in a report released on Monday, September 16th. B. Riley analyst J. Massocca expects that the company will post earnings per share of $0.47 for the quarter. The consensus estimate for CTO Realty Growth’s current full-year earnings is $1.77 per share. B. Riley also issued estimates for CTO Realty Growth’s Q4 2024 earnings at $0.46 EPS, FY2024 earnings at $1.83 EPS and FY2025 earnings at $1.96 EPS.

CTO Realty Growth (NYSE:CTO) last released its quarterly earnings data on Thursday, July 25th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $27.46 million. During the same period last year, the firm posted $0.48 earnings per share.

CTO has been the subject of a number of other reports. Raymond James upped their price target on CTO Realty Growth from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Alliance Global Partners upgraded shares of CTO Realty Growth to a “strong-buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a hold rating, three have issued 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 an average rating of “Buy” and an average price target of $20.33.

CTO Realty Growth Trading Up 0.4 %

NYSE:CTO opened at $19.30 on Thursday. CTO Realty Growth has a 1 year low of $15.63 and a 1 year high of $21.15. The stock has a market cap of $442.86 million, a P/E ratio of 35.09 and a beta of 0.76. 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 stock has a 50-day simple moving average of $19.18 and a 200-day simple moving average of $17.91.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its position in CTO Realty Growth by 7.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,382 shares of the company’s stock valued at $356,000 after buying an additional 1,340 shares during the last quarter. AQR Capital Management LLC boosted its holdings in CTO Realty Growth by 104.7% in the 2nd quarter. AQR Capital Management LLC now owns 103,805 shares of the company’s stock valued at $1,812,000 after purchasing an additional 53,083 shares in the last quarter. AXA S.A. purchased a new stake in shares of CTO Realty Growth in the second quarter valued at approximately $900,000. Concorde Asset Management LLC purchased a new stake in shares of CTO Realty Growth during the 2nd quarter worth $204,000. Finally, Hsbc Holdings PLC grew its stake in shares of CTO Realty Growth by 145.0% during the 2nd quarter. Hsbc Holdings PLC now owns 88,707 shares of the company’s stock worth $1,531,000 after purchasing an additional 52,500 shares during the period. Institutional investors and hedge funds own 67.18% of the company’s stock.

Insiders Place Their Bets

In other news, Director Christopher W. Haga sold 3,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $875,016.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Christopher W. Haga sold 3,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were 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 of the company’s stock, valued at $875,016.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Cto Realty Growth, Inc. bought 7,959 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were acquired at an average price of $14.97 per share, with a total value of $119,146.23. Following the purchase, the insider now directly owns 190,094 shares of the company’s stock, valued at approximately $2,845,707.18. The disclosure for this purchase can be found here. Insiders have bought a total of 20,783 shares of company stock valued at $311,441 over the last quarter. Company insiders own 5.00% of the company’s stock.

CTO Realty Growth Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 12th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.52 dividend on an annualized basis and a yield of 7.88%. CTO Realty Growth’s dividend 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.