Raymond James Raises CTO Realty Growth (NYSE:CTO) Price Target to $22.00

CTO Realty Growth (NYSE:CTO) had its target price hoisted by Raymond James from $20.00 to $22.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently weighed in on CTO. Alliance Global Partners upgraded shares of CTO Realty Growth to a strong-buy rating in a research report on Friday, July 26th. Jonestrading decreased their target price on shares of CTO Realty Growth from $21.00 to $19.00 and set a buy rating on the stock in a research report on Monday, May 6th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Buy and an average target price of $20.33.

CTO Realty Growth Stock Performance

Shares of NYSE CTO opened at $19.27 on Friday. The company has a market cap of $442.17 million, a P/E ratio of 35.04 and a beta of 0.76. CTO Realty Growth has a 52-week low of $15.63 and a 52-week high of $20.28. The company has a debt-to-equity ratio of 0.98, a quick ratio of 3.42 and a current ratio of 3.42. The firm’s fifty day moving average is $18.42 and its two-hundred day moving average is $17.53.

CTO Realty Growth (NYSE:CTO) last issued its quarterly earnings data on Thursday, July 25th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.42). The firm had revenue of $28.85 million for the quarter, compared to analysts’ expectations of $27.46 million. CTO Realty Growth had a net margin of 14.52% and a return on equity of 3.55%. During the same quarter in the previous year, the business earned $0.48 EPS. As a group, analysts anticipate that CTO Realty Growth will post 1.61 EPS for the current fiscal year.

CTO Realty Growth Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.89%. The ex-dividend date was Thursday, June 13th. CTO Realty Growth’s dividend payout ratio is currently 276.36%.

Insider Transactions at CTO Realty Growth

In other news, 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 cost of $14.99 per share, with a total value of $98,364.38. Following the transaction, the insider now directly owns 202,918 shares of the company’s stock, valued at approximately $3,041,740.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders bought 21,804 shares of company stock worth $326,747. 5.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CTO Realty Growth

Large investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its stake in shares of CTO Realty Growth by 1.3% during the second quarter. Rhumbline Advisers now owns 45,665 shares of the company’s stock valued at $797,000 after purchasing an additional 606 shares during the period. CWM LLC increased its position 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 acquiring an additional 673 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of CTO Realty Growth by 3.7% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 22,200 shares of the company’s stock valued at $385,000 after acquiring an additional 800 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of CTO Realty Growth by 5.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,111 shares of the company’s stock valued at $392,000 after purchasing an additional 1,156 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of CTO Realty Growth by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 299,434 shares of the company’s stock valued at $5,228,000 after purchasing an additional 1,302 shares during the period. Hedge funds and other 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.