CTO Realty Growth (NYSE:CTO – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.42), Zacks reports. CTO Realty Growth had a net margin of 14.52% and a return on equity of 3.59%. The firm had revenue of $28.85 million for the quarter, compared to analyst estimates of $27.46 million. During the same period last year, the company earned $0.48 EPS. CTO Realty Growth updated its FY 2024 guidance to 1.950-2.000 EPS.
CTO Realty Growth Stock Up 3.3 %
Shares of NYSE CTO traded up $0.63 during mid-day trading on Friday, reaching $19.61. 207,037 shares of the company’s stock were exchanged, compared to its average volume of 144,264. The firm has a market capitalization of $450.05 million, a price-to-earnings ratio of 35.66 and a beta of 0.76. The company has a current ratio of 4.74, a quick ratio of 4.74 and a debt-to-equity ratio of 1.17. The business has a fifty day simple moving average of $17.80 and a 200 day simple moving average of $17.21. CTO Realty Growth has a twelve month low of $15.63 and a twelve month high of $19.76.
CTO Realty Growth Dividend Announcement
The firm 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. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.75%. The ex-dividend date was Thursday, June 13th. CTO Realty Growth’s dividend payout ratio is currently 276.37%.
Insider Transactions at CTO Realty Growth
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. Jonestrading cut their target price on CTO Realty Growth from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Alliance Global Partners assumed coverage on CTO Realty Growth in a research note on Monday, April 8th. They issued a “buy” rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, CTO Realty Growth has a consensus rating of “Moderate Buy” and an average price target of $19.33.
View Our Latest Stock Analysis on CTO
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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