Point72 Asset Management L.P. Makes New $221,000 Investment in CTO Realty Growth, Inc. (NYSE:CTO)

Point72 Asset Management L.P. purchased a new stake in CTO Realty Growth, Inc. (NYSE:CTO) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 11,600 shares of the company’s stock, valued at approximately $221,000.

A number of other hedge funds have also modified their holdings of CTO. Truvestments Capital LLC raised its holdings in CTO Realty Growth by 0.4% in the 3rd quarter. Truvestments Capital LLC now owns 155,734 shares of the company’s stock valued at $2,962,000 after buying an additional 551 shares during the period. Signaturefd LLC increased its position 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 valued at $34,000 after acquiring an additional 557 shares during the last quarter. Rhumbline Advisers raised its stake in shares of CTO Realty Growth by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 45,665 shares of the company’s stock valued at $797,000 after acquiring an additional 606 shares during the period. CWM LLC lifted its holdings in shares of CTO Realty Growth by 17.5% in the 2nd quarter. CWM LLC now owns 4,527 shares of the company’s stock worth $79,000 after acquiring an additional 673 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of CTO Realty Growth by 4.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,297 shares of the company’s stock worth $405,000 after purchasing an additional 915 shares during the period. 67.18% of the stock is currently owned by hedge funds and other institutional investors.

CTO Realty Growth Price Performance

CTO Realty Growth stock opened at $20.13 on Friday. 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, Inc. has a 52-week low of $16.16 and a 52-week high of $21.15. The firm has a market cap of $603.42 million, a PE ratio of 34.12 and a beta of 0.77. The company’s 50 day moving average is $19.72 and its two-hundred day moving average is $18.99.

CTO Realty Growth (NYSE:CTO) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $31.81 million during the quarter, compared to analyst estimates of $30.15 million. During the same quarter in the previous year, the business posted $0.48 earnings per share. On average, research analysts expect that CTO Realty Growth, Inc. will post 1.8 EPS for the current fiscal year.

CTO Realty Growth Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, December 12th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, December 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.55%. CTO Realty Growth’s payout ratio is 257.63%.

Insider Activity at CTO Realty Growth

In related news, CEO John P. Albright sold 29,488 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $20.71, for a total value of $610,696.48. Following the transaction, the chief executive officer now owns 570,554 shares of the company’s stock, valued at $11,816,173.34. This represents a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CTO shares. Raymond James raised CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $22.00 to $24.00 in a research report on Wednesday, October 30th. StockNews.com lowered 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 given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $21.00.

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.