Insider Buying: CTO Realty Growth, Inc. (NYSE:CTO) Major Shareholder Buys 6,562 Shares of Stock

CTO Realty Growth, Inc. (NYSE:CTO) major shareholder Cto Realty Growth, Inc. acquired 6,562 shares of CTO Realty Growth stock in a transaction that occurred on Tuesday, July 9th. The shares were bought at an average price of $14.99 per share, for a total transaction of $98,364.38. Following the transaction, the insider now owns 202,918 shares of the company’s stock, valued at approximately $3,041,740.82. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Cto Realty Growth, Inc. also recently made the following trade(s):

• On Friday, July 5th, Cto Realty Growth, Inc. acquired 6,262 shares of CTO Realty Growth stock. The shares were bought at an average price of $15.00 per share, for a total transaction of $93,930.00.
• On Thursday, June 27th, Cto Realty Growth, Inc. acquired 7,959 shares of CTO Realty Growth stock. The shares were bought at an average price of $14.97 per share, for a total transaction of $119,146.23.
• On Thursday, June 13th, Cto Realty Growth, Inc. acquired 830 shares of CTO Realty Growth stock. The shares were bought at an average price of $14.99 per share, for a total transaction of $12,441.70.
• On Tuesday, May 28th, Cto Realty Growth, Inc. acquired 191 shares of CTO Realty Growth stock. The shares were bought at an average price of $15.00 per share, for a total transaction of $2,865.00.

CTO Realty Growth Price Performance

CTO stock opened at $17.65 on Thursday. The business has a fifty day moving average of $17.50 and a two-hundred day moving average of $17.10. The company has a quick ratio of 4.74, a current ratio of 4.74 and a debt-to-equity ratio of 1.17. The stock has a market cap of $405.07 million, a price-to-earnings ratio of 32.09 and a beta of 0.76. CTO Realty Growth, Inc. has a 52-week low of $15.63 and a 52-week high of $18.03.

CTO Realty Growth Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.61%. CTO Realty Growth’s payout ratio is presently 276.37%.

Institutional Investors Weigh In On CTO Realty Growth

A number of institutional investors have recently modified their holdings of CTO. Penserra Capital Management LLC grew its stake in shares of CTO Realty Growth by 14.5% in the third quarter. Penserra Capital Management LLC now owns 29,364 shares of the company’s stock valued at $475,000 after buying an additional 3,710 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of CTO Realty Growth by 41.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 43,925 shares of the company’s stock valued at $774,000 after buying an additional 12,956 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of CTO Realty Growth by 19.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 24,976 shares of the company’s stock valued at $433,000 after buying an additional 4,000 shares in the last quarter. Grace & White Inc. NY grew its stake in shares of CTO Realty Growth by 4.8% in the fourth quarter. Grace & White Inc. NY now owns 538,252 shares of the company’s stock valued at $9,328,000 after buying an additional 24,889 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of CTO Realty Growth by 8.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 190,000 shares of the company’s stock valued at $3,293,000 after buying an additional 15,000 shares in the last quarter. 67.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CTO shares. Alliance Global Partners started coverage on CTO Realty Growth in a research report on Monday, April 8th. They set a “buy” rating and a $20.00 price objective on the stock. Jonestrading cut their target price on CTO Realty Growth from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, May 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.33.

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.