CTO Realty Growth, Inc. (NYSE:CTO) Shares Acquired by Alliancebernstein L.P.

Alliancebernstein L.P. increased its holdings in shares of CTO Realty Growth, Inc. (NYSE:CTO) by 29.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,598 shares of the company’s stock after purchasing an additional 5,320 shares during the quarter. Alliancebernstein L.P. owned 0.08% of CTO Realty Growth worth $465,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of CTO Realty Growth by 118.6% during the fourth quarter. Vanguard Group Inc. now owns 2,514,789 shares of the company’s stock valued at $49,566,000 after acquiring an additional 1,364,637 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in CTO Realty Growth by 143.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 392,102 shares of the company’s stock valued at $7,728,000 after purchasing an additional 230,811 shares during the period. Thrivent Financial for Lutherans purchased a new stake in CTO Realty Growth in the fourth quarter valued at approximately $4,673,000. Franklin Resources Inc. lifted its stake in CTO Realty Growth by 9.8% during the third quarter. Franklin Resources Inc. now owns 209,511 shares of the company’s stock worth $3,972,000 after purchasing an additional 18,743 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC boosted its position in shares of CTO Realty Growth by 130.3% during the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 203,541 shares of the company’s stock worth $4,012,000 after buying an additional 115,146 shares during the period. 67.18% of the stock is currently owned by hedge funds and other institutional investors.

CTO Realty Growth Price Performance

CTO stock opened at $18.12 on Monday. The business’s 50-day moving average is $18.82 and its two-hundred day moving average is $19.39. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.96 and a quick ratio of 3.96. The firm has a market capitalization of $577.00 million, a P/E ratio of -82.36 and a beta of 0.61. CTO Realty Growth, Inc. has a 1 year low of $16.12 and a 1 year high of $21.15.

CTO Realty Growth (NYSE:CTO) last issued its earnings results on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.48. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. The firm had revenue of $35.74 million for the quarter, compared to analysts’ expectations of $33.39 million. Analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 13th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.39%. CTO Realty Growth’s payout ratio is currently -690.91%.

Analysts Set New Price Targets

CTO has been the topic of several research analyst reports. StockNews.com downgraded CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. B. Riley reiterated a “buy” rating and set a $23.00 price target (up from $22.50) on shares of CTO Realty Growth in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average 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.