CTO Realty Growth, Inc. (NYSE:CTO) Receives $22.00 Consensus Target Price from Analysts

CTO Realty Growth, Inc. (NYSE:CTO) has been given a consensus recommendation of “Buy” by the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $22.00.

A number of analysts have issued reports on the stock. Jones Trading cut their price target on shares of CTO Realty Growth from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, July 30th. Zacks Research upgraded shares of CTO Realty Growth to a “strong-buy” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of CTO Realty Growth in a research note on Friday.

Insider Transactions at CTO Realty Growth

In other CTO Realty Growth news, CEO John P. Albright purchased 4,200 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was purchased at an average cost of $16.53 per share, with a total value of $69,426.00. Following the completion of the acquisition, the chief executive officer directly owned 632,547 shares of the company’s stock, valued at $10,456,001.91. This trade represents a 0.67% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 8,950 shares of company stock valued at $147,739 over the last three months. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On CTO Realty Growth

Several large investors have recently modified their holdings of CTO. Cutler Capital Management LLC boosted its holdings in shares of CTO Realty Growth by 234.6% in the second quarter. Cutler Capital Management LLC now owns 642,054 shares of the company’s stock valued at $11,082,000 after acquiring an additional 450,162 shares during the period. Vanguard Group Inc. raised its position in CTO Realty Growth by 13.0% in the first quarter. Vanguard Group Inc. now owns 2,842,294 shares of the company’s stock worth $54,885,000 after acquiring an additional 327,505 shares in the last quarter. Leeward Investments LLC MA raised its position in CTO Realty Growth by 356.0% in the first quarter. Leeward Investments LLC MA now owns 394,793 shares of the company’s stock worth $7,623,000 after acquiring an additional 308,213 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of CTO Realty Growth by 1,861.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 320,899 shares of the company’s stock valued at $6,197,000 after buying an additional 304,536 shares in the last quarter. Finally, LSV Asset Management increased its position in shares of CTO Realty Growth by 51.7% in the first quarter. LSV Asset Management now owns 578,917 shares of the company’s stock valued at $11,179,000 after buying an additional 197,337 shares in the last quarter. 67.18% of the stock is owned by institutional investors and hedge funds.

CTO Realty Growth Stock Up 0.3%

Shares of NYSE:CTO opened at $16.38 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.94 and a quick ratio of 4.94. The firm has a market capitalization of $539.46 million, a PE ratio of -14.24 and a beta of 0.75. The firm’s 50-day moving average is $16.37 and its two-hundred day moving average is $17.24. CTO Realty Growth has a 1 year low of $15.06 and a 1 year high of $20.88.

CTO Realty Growth Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, September 11th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 9.3%. The ex-dividend date of this dividend was Thursday, September 11th. CTO Realty Growth’s dividend payout ratio is -132.17%.

CTO Realty Growth declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 24th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the company to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

CTO Realty Growth Company Profile

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.