Raymond James Financial Inc. Invests $3.79 Million in CTO Realty Growth, Inc. (NYSE:CTO)

Raymond James Financial Inc. purchased a new position in shares of CTO Realty Growth, Inc. (NYSE:CTO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 192,158 shares of the company's stock, valued at approximately $3,787,000. Raymond James Financial Inc. owned 0.64% of CTO Realty Growth as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Heitman Real Estate Securities LLC lifted its holdings in CTO Realty Growth by 26.2% during the 3rd quarter. Heitman Real Estate Securities LLC now owns 989,073 shares of the company's stock worth $18,812,000 after buying an additional 205,383 shares during the period. Ingalls & Snyder LLC grew its stake in CTO Realty Growth by 0.3% in the third quarter. Ingalls & Snyder LLC now owns 397,111 shares of the company's stock valued at $7,553,000 after acquiring an additional 1,241 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of CTO Realty Growth by 143.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 392,102 shares of the company's stock valued at $7,728,000 after acquiring an additional 230,811 shares in the last quarter. Franklin Resources Inc. raised its position in shares of CTO Realty Growth by 9.8% during the third quarter. Franklin Resources Inc. now owns 209,511 shares of the company's stock worth $3,972,000 after purchasing an additional 18,743 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of CTO Realty Growth by 37.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 200,068 shares of the company's stock worth $3,943,000 after purchasing an additional 54,000 shares in the last quarter. Institutional investors own 67.18% of the company's stock.

Wall Street Analysts Forecast Growth

CTO has been the subject of a number of recent research reports. StockNews.com lowered shares of CTO Realty Growth from a "hold" rating to a "sell" rating in a research note on Saturday, March 1st. B. Riley reissued a "buy" rating and set a $23.00 target price (up from $22.50) on shares of CTO Realty Growth in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $21.50.

CTO Realty Growth Stock Up 0.6 %

NYSE CTO traded up $0.12 on Friday, reaching $19.31. The company had a trading volume of 346,155 shares, compared to its average volume of 329,706. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.88. The company's fifty day moving average is $19.42 and its 200 day moving average is $19.52. CTO Realty Growth, Inc. has a 52-week low of $16.51 and a 52-week high of $21.15. The stock has a market capitalization of $614.89 million, a P/E ratio of -87.77 and a beta of 0.77.

CTO Realty Growth (NYSE:CTO - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.48. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. The company had revenue of $35.74 million for the quarter, compared to analyst estimates of $33.39 million. Sell-side analysts anticipate that CTO Realty Growth, Inc. will post 1.92 earnings per share for the current fiscal year.

CTO Realty Growth Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 13th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.87%. The ex-dividend date is Thursday, March 13th. CTO Realty Growth's dividend payout ratio is presently -690.91%.

CTO Realty Growth 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.