Asset Management One Co. Ltd. Acquires 4,882 Shares of CTO Realty Growth, Inc. $CTO

Asset Management One Co. Ltd. increased its holdings in shares of CTO Realty Growth, Inc. (NYSE:CTO) by 6.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,424 shares of the company’s stock after purchasing an additional 4,882 shares during the quarter. Asset Management One Co. Ltd. owned 0.23% of CTO Realty Growth worth $1,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of CTO Realty Growth by 13.0% during the first quarter. Vanguard Group Inc. now owns 2,842,294 shares of the company’s stock valued at $54,885,000 after purchasing an additional 327,505 shares in the last quarter. Grace & White Inc. NY lifted its holdings in shares of CTO Realty Growth by 1.3% during the second quarter. Grace & White Inc. NY now owns 589,371 shares of the company’s stock valued at $10,173,000 after purchasing an additional 7,700 shares in the last quarter. LSV Asset Management lifted its holdings in shares of CTO Realty Growth by 51.7% during the first quarter. LSV Asset Management now owns 578,917 shares of the company’s stock valued at $11,179,000 after purchasing an additional 197,337 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in CTO Realty Growth by 14.5% in the first quarter. Russell Investments Group Ltd. now owns 536,686 shares of the company’s stock valued at $10,366,000 after acquiring an additional 67,846 shares during the period. Finally, Invesco Ltd. lifted its holdings in CTO Realty Growth by 7.9% in the first quarter. Invesco Ltd. now owns 505,387 shares of the company’s stock valued at $9,759,000 after acquiring an additional 36,831 shares during the period. 67.18% of the stock is owned by institutional investors.

CTO Realty Growth Stock Performance

NYSE:CTO opened at $16.52 on Thursday. The company has a current ratio of 4.94, a quick ratio of 4.94 and a debt-to-equity ratio of 1.05. CTO Realty Growth, Inc. has a 12-month low of $15.06 and a 12-month high of $20.88. The stock has a 50-day moving average price of $16.37 and a 200 day moving average price of $17.22. The stock has a market capitalization of $544.20 million, a P/E ratio of -12.81 and a beta of 0.75.

CTO Realty Growth announced that its board has initiated a stock repurchase program on Wednesday, September 24th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

CTO Realty Growth Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, September 11th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, September 11th. This represents a $1.52 annualized dividend and a dividend yield of 9.2%. CTO Realty Growth’s dividend payout ratio (DPR) is currently -132.17%.

Insider Activity

In other CTO Realty Growth news, CEO John P. Albright bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was purchased at an average price of $16.38 per share, for a total transaction of $32,760.00. Following the completion of the transaction, the chief executive officer owned 634,547 shares of the company’s stock, valued at $10,393,879.86. This trade represents a 0.32% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders bought a total of 8,950 shares of company stock worth $147,739 in the last three months. Company insiders own 4.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CTO. Zacks Research raised CTO Realty Growth to a “strong-buy” rating in a report on Tuesday, October 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of CTO Realty Growth in a report on Wednesday, October 8th. Finally, Jones Trading reissued a “buy” rating and issued a $21.00 target price on shares of CTO Realty Growth in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $22.00.

CTO Realty Growth 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.