Sage Investment Counsel LLC acquired a new stake in CTO Realty Growth, Inc. (NYSE:CTO - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,005 shares of the company's stock, valued at approximately $315,000. Sage Investment Counsel LLC owned about 0.05% of CTO Realty Growth as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in CTO. Proficio Capital Partners LLC acquired a new position in shares of CTO Realty Growth in the 4th quarter valued at $240,000. Los Angeles Capital Management LLC boosted its stake in CTO Realty Growth by 2.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 96,540 shares of the company's stock worth $1,903,000 after buying an additional 2,200 shares during the period. Bank of New York Mellon Corp raised its stake in shares of CTO Realty Growth by 15.1% in the 4th quarter. Bank of New York Mellon Corp now owns 153,338 shares of the company's stock valued at $3,022,000 after acquiring an additional 20,064 shares during the period. Leeward Investments LLC MA acquired a new position in shares of CTO Realty Growth in the 4th quarter worth approximately $1,706,000. Finally, LDR Capital Management LLC boosted its position in shares of CTO Realty Growth by 237.8% during the 4th quarter. LDR Capital Management LLC now owns 68,412 shares of the company's stock worth $1,348,000 after purchasing an additional 48,162 shares during the period. 67.18% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages recently commented on CTO. StockNews.com cut CTO Realty Growth from a "hold" rating to a "sell" rating in a report on Saturday. B. Riley reissued a "buy" rating and issued a $23.00 price objective (up previously from $22.50) on shares of CTO Realty Growth in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, CTO Realty Growth presently has a consensus rating of "Buy" and a consensus price target of $21.50.
Check Out Our Latest Analysis on CTO
CTO Realty Growth Price Performance
Shares of CTO traded down $0.11 during trading hours on Wednesday, reaching $18.74. The company had a trading volume of 374,524 shares, compared to its average volume of 300,446. The company has a market capitalization of $596.74 million, a price-to-earnings ratio of -85.18 and a beta of 0.78. CTO Realty Growth, Inc. has a 12-month low of $16.33 and a 12-month high of $21.15. The firm has a 50 day simple moving average of $19.62 and a 200-day simple moving average of $19.54. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 0.88.
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 (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.48. The business had revenue of $35.74 million during the quarter, compared to the consensus estimate of $33.39 million. CTO Realty Growth had a negative return on equity of 0.38% and a negative net margin of 1.58%. Research analysts expect that CTO Realty Growth, Inc. will post 1.92 earnings per share for the current year.
CTO Realty Growth Announces Dividend
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 issued a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a yield of 8.11%. CTO Realty Growth's dividend payout ratio (DPR) is -690.91%.
CTO Realty Growth Company Profile
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Free Report)
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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