Pinnacle Associates Ltd. Increases Holdings in CTO Realty Growth, Inc. (NYSE:CTO)

Pinnacle Associates Ltd. boosted its position in CTO Realty Growth, Inc. (NYSE:CTO) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,728 shares of the company’s stock after buying an additional 3,492 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.22% of CTO Realty Growth worth $862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Ballentine Partners LLC bought a new stake in shares of CTO Realty Growth in the 3rd quarter worth approximately $270,000. Signaturefd LLC lifted its stake in CTO Realty Growth by 45.4% in 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 last quarter. Sequoia Financial Advisors LLC purchased a new stake in CTO Realty Growth during the third quarter valued at about $404,000. Copeland Capital Management LLC bought a new position in shares of CTO Realty Growth during the third quarter valued at about $49,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of CTO Realty Growth by 830.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 12,769 shares of the company’s stock worth $243,000 after buying an additional 11,397 shares during the period. 67.18% of the stock is currently owned by institutional investors.

CTO Realty Growth Trading Up 0.3 %

CTO opened at $19.40 on Friday. CTO Realty Growth, Inc. has a one year low of $16.14 and a one year high of $21.15. 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 business has a 50 day simple moving average of $19.18 and a two-hundred day simple moving average of $18.42. The firm has a market capitalization of $448.53 million, a price-to-earnings ratio of 32.88 and a beta of 0.76.

CTO Realty Growth (NYSE:CTO) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.27). The business had revenue of $31.81 million during the quarter, compared to analysts’ expectations of $30.15 million. CTO Realty Growth had a return on equity of 4.04% and a net margin of 17.10%. During the same period in the previous year, the business earned $0.48 EPS. Analysts predict that CTO Realty Growth, Inc. will post 1.79 EPS for the current year.

CTO Realty Growth Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 12th were issued a $0.38 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.52 annualized dividend and a yield of 7.84%. CTO Realty Growth’s dividend payout ratio (DPR) is presently 257.63%.

Analysts Set New Price Targets

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

Insider Buying and Selling at CTO Realty Growth

In other news, Director Christopher W. Haga sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 44,988 shares of the company’s stock, valued at approximately $875,016.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.30% of the company’s stock.

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.