CTO Realty Growth (NYSE:CTO) Shares Gap Down - Time to Sell?

Shares of CTO Realty Growth, Inc. (NYSE:CTO - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $20.21, but opened at $19.56. CTO Realty Growth shares last traded at $18.59, with a volume of 194,027 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CTO shares. StockNews.com raised CTO Realty Growth from a "sell" rating to a "hold" rating in a report on Friday. Raymond James upgraded CTO Realty Growth from an "outperform" rating to a "strong-buy" rating and lifted their target price for the company from $22.00 to $24.00 in a research report on Wednesday, October 30th.

CTO Realty Growth Price Performance

The business's 50-day simple moving average is $19.71 and its two-hundred day simple moving average is $19.56. The stock has a market cap of $567.67 million, a price-to-earnings ratio of -86.07 and a beta of 0.78. 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 released its quarterly earnings data 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. CTO Realty Growth had a negative return on equity of 0.38% and a negative net margin of 1.58%. The company had revenue of $35.74 million for the quarter, compared to the consensus estimate of $33.39 million. Research analysts expect that CTO Realty Growth, Inc. will post 1.92 earnings per share for the current year.

Remove Ads

CTO Realty Growth Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.03%. The ex-dividend date is Thursday, March 13th. CTO Realty Growth's dividend payout ratio (DPR) is currently -690.91%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its position in CTO Realty Growth by 162.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 161,291 shares of the company's stock valued at $3,068,000 after acquiring an additional 99,943 shares during the period. Entropy Technologies LP acquired a new stake in CTO Realty Growth in the fourth quarter valued at $406,000. Barclays PLC increased its holdings in CTO Realty Growth by 251.1% in the third 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 during the period. Sequoia Financial Advisors LLC bought a new position in CTO Realty Growth during the 3rd quarter worth $404,000. Finally, FMR LLC lifted its holdings in CTO Realty Growth by 461.4% during the 3rd quarter. FMR LLC now owns 13,608 shares of the company's stock worth $259,000 after buying an additional 11,184 shares during the period. Institutional investors own 67.18% of the company's stock.

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.