Verition Fund Management LLC Acquires Shares of 28,800 CTO Realty Growth, Inc. (NYSE:CTO)

Verition Fund Management LLC purchased a new stake in CTO Realty Growth, Inc. (NYSE:CTO - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 28,800 shares of the company's stock, valued at approximately $548,000. Verition Fund Management LLC owned 0.10% of CTO Realty Growth at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC boosted its stake in shares of CTO Realty Growth by 145.0% during the 2nd quarter. Hsbc Holdings PLC now owns 88,707 shares of the company's stock worth $1,531,000 after buying an additional 52,500 shares during the last quarter. LDR Capital Management LLC acquired a new position in shares of CTO Realty Growth during the 2nd quarter worth approximately $483,000. AXA S.A. bought a new stake in shares of CTO Realty Growth during the 2nd quarter worth approximately $900,000. Sequoia Financial Advisors LLC acquired a new stake in shares of CTO Realty Growth in the 3rd quarter valued at approximately $404,000. Finally, CWM LLC grew its stake in shares of CTO Realty Growth by 65.6% in the third quarter. CWM LLC now owns 7,497 shares of the company's stock valued at $143,000 after buying an additional 2,970 shares in the last quarter. 67.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO John P. Albright sold 29,488 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $20.71, for a total transaction of $610,696.48. Following the transaction, the chief executive officer now directly owns 570,554 shares of the company's stock, valued at approximately $11,816,173.34. This trade represents a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Raymond James upgraded shares of CTO Realty Growth from an "outperform" rating to a "strong-buy" rating and increased their price target for the company from $22.00 to $24.00 in a research note on Wednesday, October 30th. StockNews.com downgraded shares of CTO Realty Growth from a "hold" rating to a "sell" rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $21.00.

CTO Realty Growth Stock Performance

CTO stock traded up $0.05 during midday trading on Thursday, reaching $20.13. 377,696 shares of the company were exchanged, compared to its average volume of 265,060. CTO Realty Growth, Inc. has a one year low of $16.16 and a one year high of $21.15. The firm has a market capitalization of $603.42 million, a price-to-earnings ratio of 34.12 and a beta of 0.77. The business has a 50-day moving average price of $19.72 and a two-hundred day moving average price of $18.99. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.96 and a quick ratio of 3.96.

CTO Realty Growth (NYSE:CTO - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.27). The company had revenue of $31.81 million for the quarter, compared to the consensus estimate of $30.15 million. CTO Realty Growth had a return on equity of 4.04% and a net margin of 17.10%. During the same period in the previous year, the firm posted $0.48 EPS. Equities research analysts forecast that CTO Realty Growth, Inc. will post 1.8 EPS for the current year.

CTO Realty Growth Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 12th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, December 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.55%. CTO Realty Growth's dividend payout ratio (DPR) is currently 257.63%.

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.