Geode Capital Management LLC Grows Position in CTO Realty Growth, Inc. $CTO

Geode Capital Management LLC grew its holdings in shares of CTO Realty Growth, Inc. (NYSE:CTO) by 5.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 769,177 shares of the company’s stock after purchasing an additional 40,694 shares during the quarter. Geode Capital Management LLC owned about 2.34% of CTO Realty Growth worth $13,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of CTO Realty Growth during the 1st quarter valued at approximately $258,000. LSV Asset Management raised its holdings in CTO Realty Growth by 51.7% during the 1st quarter. LSV Asset Management now owns 578,917 shares of the company’s stock valued at $11,179,000 after acquiring an additional 197,337 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of CTO Realty Growth by 9.7% during the first quarter. PNC Financial Services Group Inc. now owns 14,156 shares of the company’s stock worth $273,000 after acquiring an additional 1,248 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 during the period. Finally, Deutsche Bank AG grew its position in shares of CTO Realty Growth by 8.1% in the first quarter. Deutsche Bank AG now owns 81,142 shares of the company’s stock valued at $1,567,000 after purchasing an additional 6,067 shares in the last quarter. Institutional investors own 67.18% of the company’s stock.

CTO Realty Growth Stock Performance

Shares of CTO opened at $18.06 on Wednesday. CTO Realty Growth, Inc. has a 12-month low of $15.06 and a 12-month high of $20.88. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 1.08. The company has a market cap of $584.54 million, a PE ratio of -14.00 and a beta of 0.64. The stock has a 50-day moving average price of $16.66 and a 200-day moving average price of $17.11.

CTO Realty Growth (NYSE:CTO) last announced its earnings results on Tuesday, October 28th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.46). CTO Realty Growth had a negative net margin of 22.77% and a negative return on equity of 5.72%. The company had revenue of $34.62 million during the quarter, compared to analysts’ expectations of $37.83 million. CTO Realty Growth has set its FY 2025 guidance at 1.840-1.87 EPS. As a group, equities analysts forecast that CTO Realty Growth, Inc. will post 1.92 earnings per share for the current fiscal year.

CTO Realty Growth Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Thursday, December 11th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date of this dividend is Thursday, December 11th. CTO Realty Growth’s payout ratio is currently -117.83%.

CTO Realty Growth declared that its board has initiated a share repurchase program on Wednesday, September 24th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits 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 management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of CTO Realty Growth in a report on Wednesday, October 8th. Zacks Research raised shares of CTO Realty Growth to a “strong-buy” rating in a report on Tuesday, October 21st. Finally, Jones Trading reaffirmed a “buy” rating and set a $21.00 price objective on shares of CTO Realty Growth in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $22.00.

Insider Transactions at CTO Realty Growth

In other news, CEO John P. Albright bought 4,200 shares of CTO Realty Growth stock in a transaction that occurred on Thursday, September 11th. The shares were acquired at an average price of $16.53 per share, with a total value of $69,426.00. Following the completion of the purchase, the chief executive officer directly owned 632,547 shares in the company, valued at $10,456,001.91. The trade was a 0.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have acquired 8,950 shares of company stock valued at $147,739 in the last ninety days. 4.00% of the stock is currently owned by 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.