CTO Realty Growth (NYSEAMERICAN:CTO) Upgraded to Buy by Zacks Investment Research

CTO Realty Growth (NYSEAMERICAN:CTOGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, Zacks.com reports. The firm presently has a $72.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 9.99% from the company’s previous close.

According to Zacks, “CTO Realty Growth Inc. is a real estate company, which owns income properties. CTO Realty Growth Inc., formerly known as Consolidated-Tomoka Land Co., is based in DAYTONA BEACH, Fla. “

Several other research analysts have also issued reports on the stock. TheStreet lowered shares of CTO Realty Growth from a “b-” rating to a “c” rating in a research note on Friday, May 20th. B. Riley raised their target price on shares of CTO Realty Growth from $65.00 to $70.00 in a report on Tuesday, March 1st. Jonestrading raised their target price on shares of CTO Realty Growth from $75.00 to $80.00 in a report on Friday, April 29th. Finally, BTIG Research lifted their price objective on shares of CTO Realty Growth from $67.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, March 8th.

Shares of CTO stock traded up $0.78 during mid-day trading on Thursday, reaching $65.46. The company’s stock had a trading volume of 34,127 shares, compared to its average volume of 35,182. CTO Realty Growth has a 1-year low of $51.98 and a 1-year high of $67.38. The stock has a market cap of $394.99 million, a price-to-earnings ratio of 13.96 and a beta of 0.82. The company has a debt-to-equity ratio of 0.53, a quick ratio of 8.11 and a current ratio of 8.11.

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 distributed to shareholders after the market closes on Friday, July 1st.

CTO Realty Growth (NYSEAMERICAN:CTOGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The financial services provider reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the firm posted $0.97 earnings per share. On average, sell-side analysts predict that CTO Realty Growth will post 4.64 earnings per share for the current year.

In related news, CAO Lisa Vorakoun sold 861 shares of the stock in a transaction on Saturday, February 26th. The stock was sold at an average price of $52.05, for a total value of $44,815.05. Following the transaction, the chief accounting officer now directly owns 4,924 shares in the company, valued at approximately $256,294.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Cto Realty Growth, Inc. bought 9,551 shares of the business’s stock in a transaction that occurred on Wednesday, April 13th. The stock was purchased at an average price of $18.26 per share, for a total transaction of $174,401.26. Following the completion of the acquisition, the insider now owns 855,939 shares in the company, valued at $15,629,446.14. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 32,473 shares of company stock valued at $594,985 and have sold 3,361 shares valued at $192,465. 5.60% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of CTO Realty Growth by 3.3% during the 4th quarter. BlackRock Inc. now owns 538,221 shares of the financial services provider’s stock valued at $33,056,000 after purchasing an additional 17,128 shares during the last quarter. Vanguard Group Inc. increased its position in shares of CTO Realty Growth by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 285,540 shares of the financial services provider’s stock valued at $18,937,000 after purchasing an additional 7,363 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of CTO Realty Growth by 8.0% during the 4th quarter. Russell Investments Group Ltd. now owns 186,335 shares of the financial services provider’s stock valued at $11,437,000 after purchasing an additional 13,775 shares during the last quarter. State Street Corp increased its position in shares of CTO Realty Growth by 36.9% during the 1st quarter. State Street Corp now owns 163,201 shares of the financial services provider’s stock valued at $10,823,000 after purchasing an additional 43,961 shares during the last quarter. Finally, Carlson Capital L P increased its position in shares of CTO Realty Growth by 4.0% during the 3rd quarter. Carlson Capital L P now owns 137,308 shares of the financial services provider’s stock valued at $7,382,000 after purchasing an additional 5,308 shares during the last quarter. 59.42% of the stock is owned by institutional investors and hedge funds.

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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