CTO Realty Growth (NYSE:CTO) Releases FY 2024 Earnings Guidance

CTO Realty Growth (NYSE:CTO) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.950-2.000 for the period, compared to the consensus estimate of 1.640. The company issued revenue guidance of -.

CTO Realty Growth Trading Up 3.3 %

Shares of CTO traded up $0.63 during midday trading on Friday, hitting $19.61. 206,822 shares of the stock were exchanged, compared to its average volume of 127,313. CTO Realty Growth has a 52-week low of $15.63 and a 52-week high of $19.76. The stock has a fifty day simple moving average of $17.80 and a 200 day simple moving average of $17.21. The firm has a market cap of $449.97 million, a P/E ratio of 35.65 and a beta of 0.76. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.74 and a current ratio of 4.74.

CTO Realty Growth Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.52 annualized dividend and a dividend yield of 7.75%. CTO Realty Growth’s dividend payout ratio is currently 276.36%.

Wall Street Analysts Forecast Growth

CTO has been the subject of several research analyst reports. Jonestrading lowered their price target on CTO Realty Growth from $21.00 to $19.00 and set a buy rating for the company in a research report on Monday, May 6th. Alliance Global Partners started coverage on CTO Realty Growth in a report on Monday, April 8th. They issued a buy rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $19.33.

Insider Activity at CTO Realty Growth

In related news, major shareholder Cto Realty Growth, Inc. bought 6,262 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $93,930.00. Following the completion of the acquisition, the insider now owns 196,356 shares in the company, valued at approximately $2,945,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders purchased 21,804 shares of company stock worth $326,747. Company insiders own 5.00% of the company’s stock.

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.