Raymond James Upgrades CTO Realty Growth (NYSE:CTO) to Strong-Buy

CTO Realty Growth (NYSE:CTO) was upgraded by stock analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research report issued on Wednesday, Marketbeat.com reports. The brokerage currently has a $24.00 price target on the stock, up from their previous price target of $22.00. Raymond James’ price target suggests a potential upside of 24.03% from the stock’s previous close.

Several other equities analysts also recently commented on CTO. Alliance Global Partners upgraded CTO Realty Growth to a “strong-buy” rating in a research report on Friday, July 26th. StockNews.com cut CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CTO Realty Growth currently has a consensus rating of “Buy” and a consensus target price of $21.00.

CTO Realty Growth Price Performance

CTO Realty Growth stock opened at $19.35 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.42 and a quick ratio of 3.42. The company has a market capitalization of $447.37 million, a PE ratio of 32.80 and a beta of 0.76. CTO Realty Growth has a one year low of $15.78 and a one year high of $21.15. The business has a 50 day simple moving average of $19.15 and a 200 day simple moving average of $18.40.

CTO Realty Growth (NYSE:CTO) last posted its earnings results 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 for 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 business earned $0.48 EPS. On average, sell-side analysts forecast that CTO Realty Growth will post 1.78 EPS for the current fiscal year.

Insider Activity at CTO Realty Growth

In other news, Director Christopher W. Haga sold 3,000 shares of CTO Realty Growth stock in a transaction on Monday, September 9th. The stock was sold at an average price of $19.45, for a total value 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 approximately $875,016.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On CTO Realty Growth

Hedge funds and other institutional investors have recently made changes to their positions in the company. Farmers & Merchants Investments Inc. acquired a new stake in shares of CTO Realty Growth in the 2nd quarter valued at $26,000. Signaturefd LLC grew its stake in shares of CTO Realty Growth by 45.4% during the third quarter. Signaturefd LLC now owns 1,785 shares of the company’s stock worth $34,000 after purchasing an additional 557 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of CTO Realty Growth during the first quarter worth $31,000. Copeland Capital Management LLC acquired a new stake in shares of CTO Realty Growth during the third quarter worth $49,000. Finally, CWM LLC grew its stake 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 worth $79,000 after purchasing an additional 673 shares during the period. 67.18% of the stock is owned by institutional investors and hedge funds.

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.