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

CTO Realty Growth (NYSE:CTO) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.830-1.870 for the period, compared to the consensus EPS estimate of 1.840. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CTO shares. Alliance Global Partners upgraded shares of CTO Realty Growth to a “strong-buy” rating in a report on Friday, July 26th. Raymond James boosted their price objective on shares of CTO Realty Growth from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $20.33.

CTO Realty Growth Trading Down 0.8 %

Shares of CTO Realty Growth stock traded down $0.16 during midday trading on Friday, reaching $19.56. 441,511 shares of the company’s stock traded hands, compared to its average volume of 232,849. The company has a market cap of $448.82 million, a PE ratio of 35.56 and a beta of 0.76. The stock has a 50 day moving average of $19.13 and a 200-day moving average of $18.35. CTO Realty Growth has a 12 month low of $15.64 and a 12 month high of $21.15. The company has a debt-to-equity ratio of 0.98, a quick ratio of 3.42 and a current ratio of 3.42.

CTO Realty Growth (NYSE:CTO) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.27). The company had revenue of $31.81 million during the quarter, compared to the consensus estimate of $30.15 million. CTO Realty Growth had a return on equity of 3.55% and a net margin of 14.52%. During the same quarter last year, the company posted $0.48 earnings per share. As a group, equities analysts expect that CTO Realty Growth will post 1.78 EPS for the current fiscal year.

CTO Realty Growth Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 12th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, September 12th. This represents a $1.52 annualized dividend and a yield of 7.77%. CTO Realty Growth’s payout ratio is 276.36%.

Insider Transactions at CTO Realty Growth

In related news, Director Christopher W. Haga sold 3,000 shares of CTO Realty Growth 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 sale, the director now directly owns 44,988 shares in the company, valued at $863,319.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate 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.