CTO Realty Growth, Inc. (NYSE:CTO – Get Free Report) announced a quarterly dividend on Tuesday, February 20th, NASDAQ reports. Stockholders of record on Thursday, March 14th will be given a dividend of 0.38 per share on Thursday, March 28th. This represents a $1.52 annualized dividend and a dividend yield of 8.91%. The ex-dividend date is Wednesday, March 13th.
CTO Realty Growth has raised its dividend payment by an average of 33.9% annually over the last three years. CTO Realty Growth has a dividend payout ratio of -316.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect CTO Realty Growth to earn $1.64 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 92.7%.
CTO Realty Growth Price Performance
NYSE CTO opened at $17.06 on Monday. CTO Realty Growth has a 1 year low of $15.63 and a 1 year high of $18.03. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 1.08. The company has a market cap of $389.14 million, a P/E ratio of 568.67 and a beta of 0.77. The company has a fifty day simple moving average of $16.83 and a 200 day simple moving average of $16.76.
Analyst Ratings Changes
Institutional Trading of CTO Realty Growth
A number of hedge funds have recently modified their holdings of CTO. Barclays PLC boosted its position in shares of CTO Realty Growth by 764.4% during the fourth quarter. Barclays PLC now owns 30,143 shares of the company’s stock worth $523,000 after purchasing an additional 26,656 shares in the last quarter. Vanguard Group Inc. grew its stake in CTO Realty Growth by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,074,181 shares of the company’s stock valued at $18,616,000 after acquiring an additional 12,439 shares during the period. Nuveen Asset Management LLC increased its stake in CTO Realty Growth by 1.0% during the 4th quarter. Nuveen Asset Management LLC now owns 64,495 shares of the company’s stock worth $1,118,000 after purchasing an additional 663 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of CTO Realty Growth by 1.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 74,819 shares of the company’s stock worth $1,297,000 after acquiring an additional 825 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in CTO Realty Growth during the 4th quarter worth approximately $237,000. 62.04% of the stock is currently owned by institutional investors and hedge funds.
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.
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