CTO Realty Growth (NYSEAMERICAN:CTO) Releases FY 2022 Earnings Guidance

CTO Realty Growth (NYSEAMERICAN:CTO – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $4.95-$5.20 for the period. The company issued revenue guidance of -.

CTO Realty Growth stock opened at $60.33 on Tuesday. The company has a quick ratio of 8.11, a current ratio of 8.11 and a debt-to-equity ratio of 0.53. The company has a market cap of $364.03 million, a P/E ratio of 12.86 and a beta of 0.82. CTO Realty Growth has a one year low of $49.93 and a one year high of $67.38.

CTO Realty Growth’s stock is scheduled to split on Friday, July 1st. The 3-1 split was announced on Friday, July 1st. The newly minted shares will be payable to shareholders after the closing bell on Friday, July 1st.

CTO Realty Growth (NYSEAMERICAN:CTO – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The financial services provider reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($1.24). CTO Realty Growth had a net margin of 42.61% and a return on equity of 7.92%. During the same quarter in the prior year, the company earned $0.97 EPS. On average, equities research analysts forecast that CTO Realty Growth will post 4.64 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Thursday, March 10th were paid a $1.08 dividend. The ex-dividend date of this dividend was Wednesday, March 9th. This is an increase from CTO Realty Growth’s previous quarterly dividend of $1.00. This represents a $4.32 dividend on an annualized basis and a dividend yield of 7.16%. CTO Realty Growth’s payout ratio is currently 92.11%.

A number of research analysts have commented on CTO shares. BTIG Research increased their price objective on CTO Realty Growth from $67.00 to $72.00 and gave the company a buy rating in a research report on Tuesday, March 8th. Zacks Investment Research lowered CTO Realty Growth from a buy rating to a hold rating in a research report on Wednesday, March 2nd. B. Riley upped their price objective on CTO Realty Growth from $65.00 to $70.00 in a report on Tuesday, March 1st. Finally, Jonestrading raised their target price on CTO Realty Growth from $75.00 to $80.00 in a report on Friday, April 29th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, CTO Realty Growth presently has an average rating of Buy and an average price target of $72.75.

In related news, major shareholder Cto Realty Growth, Inc. acquired 10,406 shares of the stock in a transaction dated Monday, May 2nd. The stock was bought at an average price of $18.32 per share, with a total value of $190,637.92. Following the completion of the transaction, the insider now directly owns 868,054 shares of the company’s stock, valued at $15,902,749.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lisa Vorakoun sold 1,000 shares of CTO Realty Growth stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $63.50, for a total value of $63,500.00. Following the completion of the sale, the chief accounting officer now directly owns 3,637 shares in the company, valued at approximately $230,949.50. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 32,257 shares of company stock valued at $591,108 and sold 3,361 shares valued at $192,465. 5.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in CTO Realty Growth by 3.3% in the fourth quarter. BlackRock Inc. now owns 538,221 shares of the financial services provider’s stock valued at $33,056,000 after buying an additional 17,128 shares during the period. Geode Capital Management LLC raised its stake in CTO Realty Growth by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 105,154 shares of the financial services provider’s stock valued at $6,458,000 after acquiring an additional 3,277 shares during the period. Bank of New York Mellon Corp raised its stake in CTO Realty Growth by 13.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 49,503 shares of the financial services provider’s stock valued at $2,661,000 after acquiring an additional 5,767 shares during the period. Wells Fargo & Company MN boosted its position in CTO Realty Growth by 5.6% during the second quarter. Wells Fargo & Company MN now owns 41,805 shares of the financial services provider’s stock worth $2,237,000 after purchasing an additional 2,226 shares during the period. Finally, Morgan Stanley boosted its position in CTO Realty Growth by 11.5% during the third quarter. Morgan Stanley now owns 33,080 shares of the financial services provider’s stock worth $1,778,000 after purchasing an additional 3,402 shares during the period. Hedge funds and other institutional investors own 59.42% of the company’s stock.

CTO Realty Growth Company Profile (Get Rating)

CTO Realty Growth, Inc is a Florida-based publicly traded real estate company, which owns income properties comprised of approximately 2.4 million square feet in diversified markets in the United States and an approximately 23.5% interest in Alpine Income Property Trust, Inc, a publicly traded net lease real estate investment trust (NYSE: PINE).

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