CTO Realty Growth, Inc. (NYSE:CTO) Shares Sold by Elkhorn Partners Limited Partnership

Elkhorn Partners Limited Partnership lessened its stake in shares of CTO Realty Growth, Inc. (NYSE:CTO) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,000 shares of the company’s stock after selling 1,800 shares during the quarter. CTO Realty Growth accounts for 0.5% of Elkhorn Partners Limited Partnership’s investment portfolio, making the stock its 11th biggest position. Elkhorn Partners Limited Partnership’s holdings in CTO Realty Growth were worth $768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of CTO. Ingalls & Snyder LLC lifted its stake in shares of CTO Realty Growth by 223.2% during the second quarter. Ingalls & Snyder LLC now owns 395,870 shares of the company’s stock worth $6,912,000 after purchasing an additional 273,400 shares in the last quarter. Kennedy Capital Management LLC increased its position in shares of CTO Realty Growth by 110.2% during the first quarter. Kennedy Capital Management LLC now owns 241,521 shares of the company’s stock worth $4,094,000 after acquiring an additional 126,615 shares during the last quarter. Heitman Real Estate Securities LLC increased its position in shares of CTO Realty Growth by 8.6% during the fourth quarter. Heitman Real Estate Securities LLC now owns 941,612 shares of the company’s stock worth $16,318,000 after acquiring an additional 74,939 shares during the last quarter. Grace & White Inc. NY increased its position in shares of CTO Realty Growth by 11.7% during the first quarter. Grace & White Inc. NY now owns 601,439 shares of the company’s stock worth $10,194,000 after acquiring an additional 63,187 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of CTO Realty Growth by 18.8% during the second quarter. LSV Asset Management now owns 381,960 shares of the company’s stock worth $6,669,000 after acquiring an additional 60,480 shares during the last quarter. Institutional investors and hedge funds own 67.18% of the company’s stock.

Wall Street Analyst Weigh In

CTO has been the topic of a number of analyst reports. Alliance Global Partners raised CTO Realty Growth to a “strong-buy” rating in a research report on Friday, July 26th. Raymond James lifted their target price on CTO Realty Growth from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, CTO Realty Growth currently has an average rating of “Buy” and an average target price of $20.33.

CTO Realty Growth Stock Down 1.6 %

NYSE:CTO opened at $19.22 on Wednesday. The firm has a market capitalization of $441.02 million, a PE ratio of 35.62 and a beta of 0.76. The stock has a 50 day moving average of $19.15 and a 200-day moving average of $17.89. CTO Realty Growth, Inc. has a 52 week low of $15.63 and a 52 week high of $21.15. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 0.98.

CTO Realty Growth (NYSE:CTO) last posted its earnings results on Thursday, July 25th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.42). The company had revenue of $28.85 million for the quarter, compared to the consensus estimate of $27.46 million. CTO Realty Growth had a net margin of 14.52% and a return on equity of 3.55%. During the same period last year, the company posted $0.48 earnings per share. Analysts predict that CTO Realty Growth, Inc. will post 1.77 EPS for the current year.

CTO Realty Growth Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 12th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.52 annualized dividend and a dividend yield of 7.91%. CTO Realty Growth’s dividend payout ratio is presently 276.36%.

Insider Transactions at CTO Realty Growth

In other news, Director Christopher W. Haga sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $19.19, for a total transaction of $57,570.00. Following the completion of the transaction, the director now directly owns 44,988 shares in the company, valued at $863,319.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Cto Realty Growth, Inc. bought 6,262 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 196,356 shares of the company’s stock, valued at approximately $2,945,340. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher W. Haga sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $19.19, for a total value of $57,570.00. Following the completion of the sale, the director now owns 44,988 shares of the company’s stock, valued at $863,319.72. The disclosure for this sale can be found here. Over the last three months, insiders acquired 20,783 shares of company stock worth $311,441. Company insiders own 5.00% of the company’s stock.

CTO Realty Growth 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.