Fmr LLC Acquires 11,184 Shares of CTO Realty Growth, Inc. (NYSE:CTO)

Fmr LLC boosted its holdings in CTO Realty Growth, Inc. (NYSE:CTO) by 461.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,608 shares of the company’s stock after purchasing an additional 11,184 shares during the quarter. Fmr LLC’s holdings in CTO Realty Growth were worth $259,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ingalls & Snyder LLC lifted its stake in shares of CTO Realty Growth by 223.2% in the second quarter. Ingalls & Snyder LLC now owns 395,870 shares of the company’s stock valued at $6,912,000 after buying an additional 273,400 shares in the last quarter. LSV Asset Management raised its stake in shares of CTO Realty Growth by 18.8% in the second quarter. LSV Asset Management now owns 381,960 shares of the company’s stock worth $6,669,000 after purchasing an additional 60,480 shares during the last quarter. Dimensional Fund Advisors LP lifted 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of CTO Realty Growth by 162.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 161,291 shares of the company’s stock valued at $3,068,000 after buying an additional 99,943 shares during the last quarter. Finally, Truvestments Capital LLC boosted its position in shares of CTO Realty Growth by 0.4% during the third 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 last quarter. 67.18% of the stock is currently owned by institutional investors.

CTO Realty Growth Stock Performance

Shares of CTO opened at $19.47 on Friday. The stock has a 50 day moving average of $19.85 and a 200 day moving average of $19.07. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 0.88. CTO Realty Growth, Inc. has a 12 month low of $16.16 and a 12 month high of $21.15. The company has a market capitalization of $583.63 million, a price-to-earnings ratio of 33.00 and a beta of 0.77.

CTO Realty Growth (NYSE:CTO) last announced its earnings results 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). The business had revenue of $31.81 million for the quarter, compared to analysts’ expectations of $30.15 million. CTO Realty Growth had a net margin of 17.10% and a return on equity of 4.04%. During the same period in the prior year, the business earned $0.48 earnings per share. As a group, sell-side analysts forecast that CTO Realty Growth, Inc. will post 1.8 earnings per share for the current year.

CTO Realty Growth Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 7.81%. The ex-dividend date of this dividend is Thursday, December 12th. CTO Realty Growth’s dividend payout ratio is 257.63%.

Analyst Upgrades and Downgrades

CTO has been the subject of a number of analyst reports. Raymond James raised CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $22.00 to $24.00 in a research report on Wednesday, October 30th. StockNews.com downgraded shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, CTO Realty Growth presently has a consensus rating of “Buy” and an average price target of $21.00.

Insider Buying and Selling at CTO Realty Growth

In related news, CEO John P. Albright sold 29,488 shares of CTO Realty Growth stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.71, for a total value of $610,696.48. Following the completion of the sale, the chief executive officer now owns 570,554 shares of the company’s stock, valued at approximately $11,816,173.34. This trade represents a 4.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.30% 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.