PNC Financial Services Group Inc. Acquires 1,248 Shares of CTO Realty Growth, Inc. (NYSE:CTO)

PNC Financial Services Group Inc. boosted its holdings in CTO Realty Growth, Inc. (NYSE:CTO) by 9.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,156 shares of the company’s stock after acquiring an additional 1,248 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CTO Realty Growth were worth $273,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. New York State Teachers Retirement System purchased a new position in shares of CTO Realty Growth in the 1st quarter worth about $51,000. Summit Investment Advisors Inc. boosted its holdings in shares of CTO Realty Growth by 39.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,020 shares of the company’s stock worth $60,000 after purchasing an additional 852 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of CTO Realty Growth by 300.0% in the 4th quarter. NewEdge Advisors LLC now owns 4,000 shares of the company’s stock worth $79,000 after purchasing an additional 3,000 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of CTO Realty Growth in the 4th quarter worth about $179,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of CTO Realty Growth in the 1st quarter worth about $199,000. 67.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CTO shares. Jones Trading cut their price objective on CTO Realty Growth from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, July 30th. Wall Street Zen cut CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Tuesday, May 13th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of CTO Realty Growth in a report on Friday, May 23rd.

CTO Realty Growth Trading Down 0.2%

Shares of CTO stock opened at $16.48 on Friday. The stock has a market capitalization of $542.85 million, a PE ratio of -14.33 and a beta of 0.74. CTO Realty Growth, Inc. has a 1-year low of $16.12 and a 1-year high of $21.15. The business has a 50-day moving average of $17.39 and a 200 day moving average of $18.23. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.94 and a quick ratio of 4.94.

CTO Realty Growth Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 12th were issued a dividend of $0.38 per share. The ex-dividend date was Thursday, June 12th. This represents a $1.52 annualized dividend and a yield of 9.2%. CTO Realty Growth’s dividend payout ratio is currently -132.17%.

Insider Activity

In other CTO Realty Growth news, CEO John P. Albright purchased 3,800 shares of the stock in a transaction on Thursday, June 26th. The stock was acquired at an average price of $17.05 per share, with a total value of $64,790.00. Following the transaction, the chief executive officer directly owned 628,347 shares of the company’s stock, valued at approximately $10,713,316.35. This trade represents a 0.61% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director George R. Brokaw purchased 2,000 shares of the stock in a transaction on Thursday, June 26th. The shares were acquired at an average cost of $16.94 per share, with a total value of $33,880.00. Following the transaction, the director directly owned 91,701 shares in the company, valued at $1,553,414.94. The trade was a 2.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 7,800 shares of company stock valued at $132,960 over the last 90 days. 4.00% of the stock is currently owned by company insiders.

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.