CTO Realty Growth, Inc. (NYSE:CTO) CEO Sells $610,696.48 in Stock

CTO Realty Growth, Inc. (NYSE:CTO) CEO John P. Albright sold 29,488 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $20.71, for a total value of $610,696.48. Following the completion of the sale, the chief executive officer now directly owns 570,554 shares of the company’s stock, valued at $11,816,173.34. This trade represents a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

CTO Realty Growth Stock Down 1.0 %

Shares of CTO Realty Growth stock opened at $19.51 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.96 and a quick ratio of 3.96. The company has a market capitalization of $584.91 million, a P/E ratio of 33.07 and a beta of 0.76. The business’s fifty day moving average price is $19.35 and its two-hundred day moving average price is $18.62. CTO Realty Growth, Inc. has a 1-year low of $16.16 and a 1-year high of $21.15.

CTO Realty Growth (NYSE:CTO) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.27). CTO Realty Growth had a return on equity of 4.04% and a net margin of 17.10%. The business had revenue of $31.81 million for the quarter, compared to analyst estimates of $30.15 million. During the same period in the prior year, the firm posted $0.48 EPS. As a group, research analysts forecast that CTO Realty Growth, Inc. will post 1.79 EPS for the current year.

CTO Realty Growth Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 12th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.79%. The ex-dividend date of this dividend was Thursday, September 12th. CTO Realty Growth’s payout ratio is presently 257.63%.

Analyst Ratings Changes

CTO has been the subject of several recent research reports. StockNews.com cut CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Alliance Global Partners raised CTO Realty Growth to a “strong-buy” rating in a report on Friday, July 26th. Finally, Raymond James upgraded CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $22.00 to $24.00 in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $21.00.

Hedge Funds Weigh In On CTO Realty Growth

A number of large investors have recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. acquired a new stake in CTO Realty Growth in the 2nd quarter valued at about $26,000. EntryPoint Capital LLC bought a new stake in shares of CTO Realty Growth in the first quarter worth $31,000. Signaturefd LLC lifted its holdings in CTO Realty Growth by 45.4% in the third quarter. Signaturefd LLC now owns 1,785 shares of the company’s stock valued at $34,000 after buying an additional 557 shares during the period. Copeland Capital Management LLC acquired a new position in shares of CTO Realty Growth during the third quarter valued at about $49,000. Finally, CWM LLC raised its holdings in shares of CTO Realty Growth by 17.5% during the second quarter. CWM LLC now owns 4,527 shares of the company’s stock valued at $79,000 after purchasing an additional 673 shares during the period. Institutional investors own 67.18% of the company’s stock.

About CTO Realty Growth

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.