CTO Realty Growth (NYSE:CTO) Raised to "Strong-Buy" at Raymond James

Raymond James upgraded shares of CTO Realty Growth (NYSE:CTO - Free Report) from an outperform rating to a strong-buy rating in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $24.00 target price on the stock, up from their prior target price of $22.00.

Several other research analysts also recently commented on the stock. StockNews.com downgraded shares of CTO Realty Growth from a "hold" rating to a "sell" rating in a report on Monday. Alliance Global Partners upgraded CTO Realty Growth to a "strong-buy" rating in a research note on Friday, July 26th. One equities research 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, the stock has an average rating of "Buy" and an average price target of $21.00.

CTO Realty Growth Stock Performance

Shares of NYSE:CTO traded up $0.30 during mid-day trading on Wednesday, reaching $19.51. The company had a trading volume of 676,897 shares, compared to its average volume of 235,803. CTO Realty Growth has a one year low of $15.78 and a one year high of $21.15. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 0.98. The company's 50-day moving average price is $19.14 and its 200-day moving average price is $18.39. The firm has a market cap of $451.07 million, a price-to-earnings ratio of 33.08 and a beta of 0.76.

CTO Realty Growth (NYSE:CTO - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.27). CTO Realty Growth had a net margin of 14.52% and a return on equity of 3.55%. The firm had revenue of $31.81 million for the quarter, compared to analysts' expectations of $30.15 million. During the same period in the prior year, the company earned $0.48 EPS. As a group, equities research analysts anticipate that CTO Realty Growth will post 1.78 EPS for the current fiscal year.

CTO Realty Growth Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 12th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.79%. The ex-dividend date was Thursday, September 12th. CTO Realty Growth's dividend payout ratio (DPR) is 257.63%.

Insider Buying and Selling at CTO Realty Growth

In related news, Director Christopher W. Haga sold 3,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $19.19, for a total value of $57,570.00. Following the transaction, the director now owns 44,988 shares of the company's stock, valued at $863,319.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC increased its stake in CTO Realty Growth by 45.4% in the 3rd quarter. Signaturefd LLC now owns 1,785 shares of the company's stock worth $34,000 after purchasing an additional 557 shares during the period. Rhumbline Advisers lifted its stake in CTO Realty Growth by 1.3% in the second quarter. Rhumbline Advisers now owns 45,665 shares of the company's stock worth $797,000 after acquiring an additional 606 shares during the period. CWM LLC boosted its stake in shares of CTO Realty Growth by 17.5% during the 2nd quarter. CWM LLC now owns 4,527 shares of the company's stock valued at $79,000 after purchasing an additional 673 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in CTO Realty Growth by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,111 shares of the company's stock valued at $392,000 after acquiring an additional 1,156 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of CTO Realty Growth by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 299,434 shares of the company's stock worth $5,228,000 after acquiring an additional 1,302 shares in the last quarter. 67.18% of the stock is currently owned by institutional investors.

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.