CTO Realty Growth (NYSE:CTO) Issues FY 2024 Earnings Guidance

CTO Realty Growth (NYSE:CTO - Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.830-1.870 for the period, compared to the consensus earnings per share estimate of 1.840. The company issued revenue guidance of -.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CTO. Alliance Global Partners raised shares of CTO Realty Growth to a "strong-buy" rating in a research report on Friday, July 26th. Raymond James upped their target price on CTO Realty Growth from $20.00 to $22.00 and gave the company an "outperform" rating in a research report on Friday, August 16th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $20.33.

CTO Realty Growth Stock Up 0.9 %

NYSE CTO traded up $0.17 during trading on Thursday, hitting $19.72. The company's stock had a trading volume of 365,212 shares, compared to its average volume of 231,832. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.42 and a quick ratio of 3.42. The company has a market cap of $452.50 million, a PE ratio of 35.51 and a beta of 0.76. The business's 50 day simple moving average is $19.11 and its 200-day simple moving average is $18.31. CTO Realty Growth has a fifty-two week low of $15.64 and a fifty-two week high of $21.15.

CTO Realty Growth (NYSE:CTO - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.42). CTO Realty Growth had a return on equity of 3.55% and a net margin of 14.52%. The firm had revenue of $28.85 million during the quarter, compared to analysts' expectations of $27.46 million. During the same quarter in the previous year, the business earned $0.48 earnings per share. On average, equities analysts anticipate that CTO Realty Growth will post 1.78 EPS for the current fiscal year.

CTO Realty Growth Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 12th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.71%. The ex-dividend date of this dividend was Thursday, September 12th. CTO Realty Growth's payout ratio is 276.36%.

Insider Transactions at CTO Realty Growth

In other news, Director Christopher W. Haga sold 3,000 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $19.45, for a total value of $58,350.00. Following the completion of the transaction, the director now directly owns 44,988 shares in the company, valued at $875,016.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.00% of the company's stock.

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.

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