CTO Realty Growth (NYSE:CTO) Earns Buy Rating from B. Riley

B. Riley restated their buy rating on shares of CTO Realty Growth (NYSE:CTO) in a report published on Wednesday morning,Benzinga reports. B. Riley currently has a $23.00 target price on the stock, up from their prior target price of $22.50.

Separately, StockNews.com downgraded CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. One investment analyst has rated the stock with a sell rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $21.50.

CTO Realty Growth Stock Performance

Shares of CTO opened at $18.74 on Wednesday. The stock has a market capitalization of $596.74 million, a P/E ratio of -85.18 and a beta of 0.78. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.96 and a current ratio of 3.96. CTO Realty Growth has a 1 year low of $16.33 and a 1 year high of $21.15. The company’s fifty day moving average is $19.62 and its two-hundred day moving average is $19.54.

CTO Realty Growth (NYSE:CTO) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.48. The business had revenue of $35.74 million for the quarter, compared to analyst estimates of $33.39 million. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. On average, sell-side analysts predict that CTO Realty Growth will post 1.92 earnings per share for the current year.

CTO Realty Growth Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 13th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 8.11%. The ex-dividend date of this dividend is Thursday, March 13th. CTO Realty Growth’s dividend payout ratio (DPR) is -690.91%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of CTO Realty Growth by 162.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 161,291 shares of the company’s stock valued at $3,068,000 after acquiring an additional 99,943 shares during the period. Entropy Technologies LP purchased a new position in CTO Realty Growth in the 4th quarter valued at approximately $406,000. Barclays PLC raised its holdings in CTO Realty Growth by 251.1% during the third quarter. Barclays PLC now owns 55,911 shares of the company’s stock worth $1,063,000 after purchasing an additional 39,986 shares during the last quarter. FMR LLC boosted its position in CTO Realty Growth by 461.4% during the third quarter. FMR LLC now owns 13,608 shares of the company’s stock worth $259,000 after purchasing an additional 11,184 shares in the last quarter. Finally, Atom Investors LP acquired a new stake in CTO Realty Growth in the third quarter valued at $1,149,000. 67.18% of the stock is currently owned by institutional investors and hedge funds.

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.