Vanguard Group Inc. Increases Stock Position in CTO Realty Growth, Inc. (NYSE:CTO)

Vanguard Group Inc. boosted its holdings in CTO Realty Growth, Inc. (NYSE:CTO) by 118.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,514,789 shares of the company’s stock after buying an additional 1,364,637 shares during the period. Vanguard Group Inc. owned approximately 8.39% of CTO Realty Growth worth $49,566,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Daiwa Securities Group Inc. grew its position in shares of CTO Realty Growth by 32.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,666 shares of the company’s stock valued at $171,000 after purchasing an additional 2,118 shares in the last quarter. Cornerstone Investment Partners LLC bought a new position in CTO Realty Growth in the 4th quarter worth about $201,000. Sanctuary Advisors LLC bought a new position in CTO Realty Growth in the 3rd quarter worth about $205,000. Longboard Asset Management LP purchased a new position in CTO Realty Growth during the 4th quarter valued at about $212,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of CTO Realty Growth during the fourth quarter valued at about $240,000. Institutional investors own 67.18% of the company’s stock.

CTO Realty Growth Stock Up 1.7 %

Shares of NYSE CTO opened at $17.45 on Friday. The business has a 50-day moving average of $19.03 and a 200-day moving average of $19.42. The firm has a market capitalization of $555.56 million, a price-to-earnings ratio of -79.30 and a beta of 0.61. 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 $16.12 and a 12 month high of $21.15.

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

CTO Realty Growth Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 13th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.71%. The ex-dividend date of this dividend was Thursday, March 13th. CTO Realty Growth’s dividend payout ratio (DPR) is currently -690.91%.

Analyst Ratings Changes

CTO has been the subject of a number of analyst reports. StockNews.com lowered shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. B. Riley reissued a “buy” rating and issued a $23.00 price target (up from $22.50) on shares of CTO Realty Growth in a report on Wednesday, March 5th. One equities research 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 company. Based on data from MarketBeat, CTO Realty Growth currently has a consensus rating of “Buy” and an average target price of $22.00.

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.