B. Riley Reaffirms Buy Rating for CTO Realty Growth (NYSE:CTO)

B. Riley reiterated their buy rating on shares of CTO Realty Growth (NYSE:CTO - Free Report) in a research report released on Wednesday morning,Benzinga reports. B. Riley currently has a $23.00 price objective on the stock, up from their previous price objective of $22.50.

Separately, StockNews.com cut 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 issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $21.50.

CTO Realty Growth Price Performance

Shares of CTO Realty Growth stock traded up $0.57 on Wednesday, hitting $19.29. The company's stock had a trading volume of 368,211 shares, compared to its average volume of 305,303. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.96 and a current ratio of 3.96. CTO Realty Growth has a 1 year low of $16.33 and a 1 year high of $21.15. The firm has a fifty day moving average price of $19.59 and a 200-day moving average price of $19.54. The company has a market capitalization of $614.19 million, a price-to-earnings ratio of -87.67 and a beta of 0.77.

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CTO Realty Growth (NYSE:CTO - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $33.39 million. As a group, sell-side analysts anticipate that CTO Realty Growth will post 1.92 earnings per share for the current fiscal year.

CTO Realty Growth Dividend Announcement

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

Institutional Trading of CTO Realty Growth

A number of large investors have recently modified their holdings of the stock. Truvestments Capital LLC increased its position in shares of CTO Realty Growth by 0.4% during the third quarter. Truvestments Capital LLC now owns 155,734 shares of the company's stock worth $2,962,000 after acquiring an additional 551 shares during the period. Summit Investment Advisors Inc. increased its position in shares of CTO Realty Growth by 39.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,020 shares of the company's stock worth $60,000 after acquiring an additional 852 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of 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 acquiring an additional 915 shares during the period. The Manufacturers Life Insurance Company increased its holdings in CTO Realty Growth by 4.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 22,290 shares of the company's stock valued at $439,000 after buying an additional 993 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in CTO Realty Growth by 9.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,908 shares of the company's stock valued at $254,000 after buying an additional 1,159 shares during the last quarter. Hedge funds and other 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.