Jones Trading Reaffirms “Buy” Rating for CTO Realty Growth (NYSE:CTO)

CTO Realty Growth (NYSE:CTO)‘s stock had its “buy” rating restated by investment analysts at Jones Trading in a research note issued on Wednesday,Benzinga reports. They presently have a $21.00 price objective on the stock. Jones Trading’s price objective would suggest a potential upside of 25.56% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of CTO Realty Growth in a research report on Wednesday, October 8th. Zacks Research raised CTO Realty Growth to a “strong-buy” rating in a report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $22.00.

CTO Realty Growth Stock Performance

Shares of NYSE CTO opened at $16.73 on Wednesday. The firm has a 50 day moving average of $16.37 and a 200 day moving average of $17.22. The company has a current ratio of 3.96, a quick ratio of 4.94 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $550.92 million, a price-to-earnings ratio of -12.97 and a beta of 0.75. CTO Realty Growth has a 12-month low of $15.06 and a 12-month high of $20.88.

CTO Realty Growth declared that its board has authorized a stock buyback program 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 stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other CTO Realty Growth news, CEO John P. Albright purchased 4,200 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was acquired at an average cost of $16.53 per share, for a total transaction of $69,426.00. Following the purchase, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders purchased 8,950 shares of company stock valued at $147,739. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On CTO Realty Growth

Hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System bought a new position in shares of CTO Realty Growth during the first quarter worth $51,000. Tower Research Capital LLC TRC boosted its holdings in shares of CTO Realty Growth by 51.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,654 shares of the company’s stock valued at $63,000 after purchasing an additional 1,245 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in CTO Realty Growth by 24.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 7,050 shares of the company’s stock valued at $122,000 after buying an additional 1,377 shares during the last quarter. Samalin Investment Counsel LLC bought a new position in CTO Realty Growth during the third quarter valued at approximately $165,000. Finally, Daiwa Securities Group Inc. boosted its stake in CTO Realty Growth by 17.3% during the second quarter. Daiwa Securities Group Inc. now owns 10,162 shares of the company’s stock valued at $175,000 after buying an additional 1,496 shares during the last quarter. Institutional investors own 67.18% of the company’s stock.

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.