CTO Realty Growth, Inc. (NYSE:CTO) Short Interest Update

CTO Realty Growth, Inc. (NYSE:CTO - Get Free Report) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 781,400 shares, a decline of 37.5% from the September 30th total of 1,250,000 shares. Based on an average daily trading volume, of 456,000 shares, the days-to-cover ratio is currently 1.7 days.

CTO Realty Growth Price Performance

NYSE CTO traded down $0.16 on Friday, hitting $19.56. 441,511 shares of the company were exchanged, compared to its average volume of 232,849. The firm has a 50 day moving average of $19.13 and a two-hundred day moving average of $18.36. The company has a market cap of $448.82 million, a P/E ratio of 35.56 and a beta of 0.76. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 0.98. CTO Realty Growth has a 1-year low of $15.64 and a 1-year high of $21.15.

CTO Realty Growth (NYSE:CTO - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.27). The company had revenue of $31.81 million for the quarter, compared to analyst estimates of $30.15 million. CTO Realty Growth had a return on equity of 3.55% and a net margin of 14.52%. During the same quarter last year, the company earned $0.48 EPS. On average, equities analysts predict that CTO Realty Growth will post 1.78 EPS for the current year.

CTO Realty Growth Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 12th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.52 annualized dividend and a yield of 7.77%. CTO Realty Growth's dividend payout ratio (DPR) is 276.36%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at CTO Realty Growth

In other CTO Realty Growth news, Director Christopher W. Haga sold 3,000 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $19.45, for a total value of $58,350.00. Following the sale, the director now owns 44,988 shares of the company's stock, valued at $875,016.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTO. Pinnacle Associates Ltd. lifted its position in CTO Realty Growth by 7.6% during the 3rd quarter. Pinnacle Associates Ltd. now owns 49,728 shares of the company's stock valued at $862,000 after purchasing an additional 3,492 shares during the period. Ballentine Partners LLC acquired a new position in CTO Realty Growth during the 3rd quarter valued at about $270,000. Signaturefd LLC lifted its position in CTO Realty Growth by 45.4% during the 3rd quarter. Signaturefd LLC now owns 1,785 shares of the company's stock valued at $34,000 after purchasing an additional 557 shares during the period. Sequoia Financial Advisors LLC acquired a new position in CTO Realty Growth during the 3rd quarter valued at about $404,000. Finally, Copeland Capital Management LLC acquired a new position in CTO Realty Growth during the 3rd quarter valued at about $49,000. Institutional investors and hedge funds own 67.18% 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.