Charles Schwab Investment Management Inc. Raises Stock Position in CTO Realty Growth, Inc. (NYSE:CTO)

Charles Schwab Investment Management Inc. increased its stake in CTO Realty Growth, Inc. (NYSE:CTO - Free Report) by 162.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 161,291 shares of the company's stock after acquiring an additional 99,943 shares during the period. Charles Schwab Investment Management Inc. owned about 0.54% of CTO Realty Growth worth $3,068,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Grace & White Inc. NY boosted its position in CTO Realty Growth by 0.4% during the second quarter. Grace & White Inc. NY now owns 604,041 shares of the company's stock valued at $10,547,000 after buying an additional 2,602 shares during the period. Ingalls & Snyder LLC boosted its position in CTO Realty Growth by 223.2% during the second quarter. Ingalls & Snyder LLC now owns 395,870 shares of the company's stock valued at $6,912,000 after buying an additional 273,400 shares during the period. LSV Asset Management boosted its position in CTO Realty Growth by 18.8% during the second quarter. LSV Asset Management now owns 381,960 shares of the company's stock valued at $6,669,000 after buying an additional 60,480 shares during the period. Dimensional Fund Advisors LP boosted its position in CTO Realty Growth by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 299,434 shares of the company's stock valued at $5,228,000 after buying an additional 1,302 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of CTO Realty Growth by 6.3% during the second quarter. Bank of New York Mellon Corp now owns 138,472 shares of the company's stock worth $2,418,000 after purchasing an additional 8,172 shares during the period. 67.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CTO Realty Growth

In other news, CEO John P. Albright sold 29,488 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $20.71, for a total transaction of $610,696.48. Following the sale, the chief executive officer now owns 570,554 shares in the company, valued at $11,816,173.34. This represents a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.30% of the company's stock.

CTO Realty Growth Trading Up 0.0 %

CTO stock traded up $0.01 during trading on Friday, reaching $20.14. The company had a trading volume of 395,807 shares, compared to its average volume of 265,603. CTO Realty Growth, Inc. has a 52 week low of $16.16 and a 52 week high of $21.15. The company has a market cap of $603.72 million, a P/E ratio of 34.14 and a beta of 0.77. The business has a 50 day moving average of $19.74 and a 200 day moving average of $19.03. 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 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.27). CTO Realty Growth had a net margin of 17.10% and a return on equity of 4.04%. The business had revenue of $31.81 million for the quarter, compared to the consensus estimate of $30.15 million. During the same period in the prior year, the business posted $0.48 EPS. As a group, sell-side analysts forecast that CTO Realty Growth, Inc. will post 1.8 earnings per share for the current fiscal year.

CTO Realty Growth Dividend Announcement

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

Analysts Set New Price Targets

CTO has been the subject of a number of analyst reports. StockNews.com lowered shares of CTO Realty Growth from a "hold" rating to a "sell" rating in a report on Monday, October 28th. Raymond James raised shares of CTO Realty Growth from an "outperform" rating to a "strong-buy" rating and increased their price target for the stock from $22.00 to $24.00 in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, CTO Realty Growth has a consensus rating of "Buy" and an average target price of $21.00.

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.