CTO Realty Growth (NYSE:CTO) Reaches New 1-Year Low - Here's Why

CTO Realty Growth, Inc. (NYSE:CTO - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $16.12 and last traded at $16.39, with a volume of 34944 shares changing hands. The stock had previously closed at $16.86.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. B. Riley reissued a "buy" rating and issued a $23.00 price objective (up from $22.50) on shares of CTO Realty Growth in a research report on Wednesday, March 5th. StockNews.com cut shares of CTO Realty Growth from a "hold" rating to a "sell" rating in a report on Saturday, March 1st. One analyst has rated the stock with a sell rating, two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $22.00.

CTO Realty Growth Trading Up 1.2 %

The company has a debt-to-equity ratio of 0.88, a current ratio of 3.96 and a quick ratio of 3.96. The business's 50-day moving average is $19.03 and its 200 day moving average is $19.42. The firm has a market capitalization of $564.26 million, a P/E ratio of -80.55 and a beta of 0.61.

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

CTO Realty Growth Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 13th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.58%. The ex-dividend date of this dividend was Thursday, March 13th. CTO Realty Growth's payout ratio is currently -690.91%.

Institutional Investors Weigh In On CTO Realty Growth

A number of large investors have recently bought and sold shares of CTO. Charles Schwab Investment Management Inc. lifted its holdings in shares of CTO Realty Growth by 162.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 161,291 shares of the company's stock worth $3,068,000 after acquiring an additional 99,943 shares during the period. The Manufacturers Life Insurance Company lifted its stake in CTO Realty Growth by 4.5% during the third quarter. The Manufacturers Life Insurance Company now owns 21,297 shares of the company's stock worth $405,000 after purchasing an additional 915 shares during the last quarter. FMR LLC lifted its stake in CTO Realty Growth by 461.4% during the third quarter. FMR LLC now owns 13,608 shares of the company's stock worth $259,000 after purchasing an additional 11,184 shares during the last quarter. Barclays PLC boosted its holdings in shares of CTO Realty Growth by 251.1% in the 3rd quarter. Barclays PLC now owns 55,911 shares of the company's stock valued at $1,063,000 after purchasing an additional 39,986 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of CTO Realty Growth in the 3rd quarter valued at $205,000. 67.18% of the stock is currently owned by institutional investors and hedge funds.

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.