Martingale Asset Management L P Buys 4,192 Shares of CTO Realty Growth, Inc. (NYSE:CTO)

Martingale Asset Management L P boosted its stake in CTO Realty Growth, Inc. (NYSE:CTO) by 21.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 23,715 shares of the company’s stock after acquiring an additional 4,192 shares during the quarter. Martingale Asset Management L P’s holdings in CTO Realty Growth were worth $451,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTO. Ingalls & Snyder LLC boosted its position 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 buying an additional 273,400 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of CTO Realty Growth by 162.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 161,291 shares of the company’s stock valued at $3,068,000 after purchasing an additional 99,943 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of CTO Realty Growth in the third quarter worth $1,794,000. LSV Asset Management grew its position in CTO Realty Growth by 18.8% in the second quarter. LSV Asset Management now owns 381,960 shares of the company’s stock valued at $6,669,000 after purchasing an additional 60,480 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in CTO Realty Growth by 104.7% in the 2nd quarter. AQR Capital Management LLC now owns 103,805 shares of the company’s stock valued at $1,812,000 after buying an additional 53,083 shares during the last quarter. 67.18% of the stock is owned by institutional investors and hedge funds.

CTO Realty Growth Price Performance

NYSE:CTO opened at $20.26 on Wednesday. CTO Realty Growth, Inc. has a 12-month low of $16.16 and a 12-month high of $21.15. The firm has a market capitalization of $607.39 million, a price-to-earnings ratio of 34.34 and a beta of 0.77. The stock’s 50 day moving average price is $19.49 and its two-hundred day moving average price is $18.85. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.88.

CTO Realty Growth (NYSE:CTO) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.27). CTO Realty Growth had a net margin of 17.10% and a return on equity of 4.04%. The business had revenue of $31.81 million during the quarter, compared to the consensus estimate of $30.15 million. During the same quarter last year, the company posted $0.48 EPS. On average, analysts anticipate that CTO Realty Growth, Inc. will post 1.8 earnings per share for the current year.

CTO Realty Growth Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, December 12th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 7.50%. The ex-dividend date of this dividend is Thursday, December 12th. CTO Realty Growth’s payout ratio is 257.63%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Raymond James upgraded CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $22.00 to $24.00 in a report on Wednesday, October 30th. StockNews.com cut shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $21.00.

Insider Activity at CTO Realty Growth

In related news, CEO John P. Albright sold 29,488 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $20.71, for a total transaction of $610,696.48. Following the transaction, the chief executive officer now directly owns 570,554 shares of the company’s stock, valued at approximately $11,816,173.34. This trade represents a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher W. Haga sold 3,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $19.45, for a total transaction of $58,350.00. Following the completion of the sale, the director now directly owns 44,988 shares of the company’s stock, valued at $875,016.60. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

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.