Principal Financial Group Inc. Takes $253,000 Position in CTO Realty Growth, Inc. (NYSE:CTO)

Principal Financial Group Inc. purchased a new position in shares of CTO Realty Growth, Inc. (NYSE:CTO) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 13,318 shares of the company’s stock, valued at approximately $253,000.

A number of other hedge funds have also bought and sold shares of the company. Asset Management One Co. Ltd. boosted its holdings in CTO Realty Growth by 3.7% in the third quarter. Asset Management One Co. Ltd. now owns 57,754 shares of the company’s stock worth $1,098,000 after purchasing an additional 2,037 shares during the period. Values Added Financial LLC bought a new position in shares of CTO Realty Growth in the 3rd quarter worth about $190,000. Pinnacle Associates Ltd. lifted its position in shares of CTO Realty Growth by 7.6% in the 3rd quarter. Pinnacle Associates Ltd. now owns 49,728 shares of the company’s stock worth $862,000 after buying an additional 3,492 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of CTO Realty Growth in the 3rd quarter valued at about $270,000. Finally, Signaturefd LLC grew its position in shares of CTO Realty Growth by 45.4% during the 3rd quarter. Signaturefd LLC now owns 1,785 shares of the company’s stock valued at $34,000 after buying an additional 557 shares during the last quarter. 67.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Christopher W. Haga sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $19.19, for a total value of $57,570.00. Following the completion of the transaction, the director now directly owns 44,988 shares in the company, valued at $863,319.72. This trade represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John P. Albright sold 29,488 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 570,554 shares in the company, valued at approximately $11,816,173.34. The trade was a 4.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,488 shares of company stock valued at $726,616. Company insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

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

CTO Realty Growth Trading Up 0.4 %

CTO Realty Growth stock opened at $19.90 on Tuesday. CTO Realty Growth, Inc. has a 52-week low of $16.16 and a 52-week high of $21.15. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $596.45 million, a price-to-earnings ratio of 33.72 and a beta of 0.76. The firm has a 50-day moving average price of $19.38 and a two-hundred day moving average price of $18.75.

CTO Realty Growth (NYSE:CTO) last issued 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 return on equity of 4.04% and a net margin of 17.10%. The business had revenue of $31.81 million for the quarter, compared to analyst estimates of $30.15 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Sell-side analysts expect that CTO Realty Growth, Inc. will post 1.79 earnings per share for the current year.

CTO Realty Growth Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 12th will be paid a $0.38 dividend. The ex-dividend date is Thursday, December 12th. This represents a $1.52 annualized dividend and a dividend yield of 7.64%. CTO Realty Growth’s payout ratio is 257.63%.

CTO Realty Growth 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.