Bank of New York Mellon Corp Acquires 20,064 Shares of CTO Realty Growth, Inc. (NYSE:CTO)

Bank of New York Mellon Corp boosted its holdings in CTO Realty Growth, Inc. (NYSE:CTO - Free Report) by 15.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,338 shares of the company's stock after buying an additional 20,064 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.51% of CTO Realty Growth worth $3,022,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new stake in shares of CTO Realty Growth in the 3rd quarter valued at about $94,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of CTO Realty Growth in the third quarter worth approximately $205,000. Sanctuary Advisors LLC bought a new stake in CTO Realty Growth in the third quarter valued at approximately $205,000. Longboard Asset Management LP acquired a new stake in CTO Realty Growth during the 4th quarter valued at approximately $212,000. Finally, Point72 Asset Management L.P. bought a new position in CTO Realty Growth during the 3rd quarter worth approximately $221,000. 67.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTO has been the topic of a number of analyst reports. B. Riley reaffirmed a "buy" rating and issued a $23.00 price objective (up from $22.50) on shares of CTO Realty Growth in a research note on Wednesday, March 5th. StockNews.com downgraded CTO Realty Growth from a "hold" rating to a "sell" rating in a report on Saturday, March 1st. One equities research analyst has rated the stock with a sell rating, two have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, CTO Realty Growth has a consensus rating of "Buy" and a consensus target price of $21.50.

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CTO Realty Growth Trading Up 2.2 %

Shares of NYSE:CTO traded up $0.41 during mid-day trading on Monday, hitting $19.29. The company had a trading volume of 318,460 shares, compared to its average volume of 317,748. 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, Inc. has a one year low of $16.51 and a one year high of $21.15. The firm has a fifty day moving average price of $19.46 and a 200 day moving average price of $19.53. The company has a market capitalization of $614.38 million, a PE ratio of -87.70 and a beta of 0.77.

CTO Realty Growth (NYSE:CTO - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.48. The firm had revenue of $35.74 million during the quarter, compared to the consensus estimate of $33.39 million. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. As a group, research analysts forecast that CTO Realty Growth, Inc. will post 1.92 EPS for the current year.

CTO Realty Growth Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 13th will be issued a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 7.88%. CTO Realty Growth's payout ratio is currently -690.91%.

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.