CTO Realty Growth (NYSE:CTO) Upgraded by Raymond James to “Strong-Buy” Rating

Raymond James upgraded shares of CTO Realty Growth (NYSE:CTO) from an outperform rating to a strong-buy rating in a report published on Wednesday morning, MarketBeat reports. Raymond James currently has $24.00 target price on the stock, up from their previous target price of $22.00.

A number of other brokerages also recently weighed in on CTO. StockNews.com downgraded CTO Realty Growth from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Alliance Global Partners raised CTO Realty Growth to a “strong-buy” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $21.00.

CTO Realty Growth Price Performance

Shares of CTO stock opened at $19.40 on Wednesday. CTO Realty Growth has a 1-year low of $16.14 and a 1-year high of $21.15. The stock’s 50-day moving average is $19.18 and its 200 day moving average is $18.42. The company has a market cap of $448.53 million, a P/E ratio of 32.88 and a beta of 0.76. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.96 and a quick ratio of 3.96.

CTO Realty Growth (NYSE:CTO) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.27). CTO Realty Growth had a net margin of 17.10% and a return on equity of 4.04%. The company had revenue of $31.81 million for the quarter, compared to the consensus estimate of $30.15 million. During the same period in the previous year, the business earned $0.48 EPS. Research analysts predict that CTO Realty Growth will post 1.79 earnings per share for the current fiscal year.

CTO Realty Growth Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 12th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 7.84%. The ex-dividend date of this dividend was Thursday, September 12th. CTO Realty Growth’s dividend payout ratio is presently 257.63%.

Insiders Place Their Bets

In other CTO Realty Growth news, Director Christopher W. Haga sold 3,000 shares of the firm’s 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 owns 44,988 shares of the company’s stock, valued at approximately $875,016.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On CTO Realty Growth

A number of institutional investors and hedge funds have recently modified their holdings of CTO. PNC Financial Services Group Inc. lifted its holdings in shares of CTO Realty Growth by 19.2% during 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 period. Commonwealth Equity Services LLC lifted its holdings in shares of CTO Realty Growth by 4.1% during the first quarter. Commonwealth Equity Services LLC now owns 34,236 shares of the company’s stock worth $580,000 after purchasing an additional 1,346 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of CTO Realty Growth by 11.9% during the first quarter. Russell Investments Group Ltd. now owns 393,252 shares of the company’s stock worth $6,666,000 after purchasing an additional 41,938 shares during the period. Vanguard Group Inc. lifted its holdings in shares of CTO Realty Growth by 0.5% during the first quarter. Vanguard Group Inc. now owns 1,079,798 shares of the company’s stock worth $18,303,000 after purchasing an additional 5,617 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in shares of CTO Realty Growth during the first quarter worth about $31,000. Institutional investors and hedge funds own 67.18% of the company’s stock.

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.