CTO Realty Growth, Inc. (NYSE:CTO - Get Free Report) was the recipient of a large increase in short interest in November. As of November 30th, there was short interest totalling 1,380,000 shares, an increase of 46.1% from the November 15th total of 944,500 shares. Based on an average daily volume of 510,800 shares, the days-to-cover ratio is presently 2.7 days.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the company. Raymond James upgraded CTO Realty Growth from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $22.00 to $24.00 in a research note on Wednesday, October 30th. StockNews.com downgraded shares of CTO Realty Growth from a "hold" rating to a "sell" rating in a research note on Monday, October 28th. One equities research 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 company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $21.00.
Get Our Latest Analysis on CTO
CTO Realty Growth Trading Up 0.0 %
Shares of CTO traded up $0.01 during trading hours on Friday, hitting $20.14. The stock had a trading volume of 395,802 shares, compared to its average volume of 265,603. CTO Realty Growth has a 12-month low of $16.16 and a 12-month high of $21.15. The firm has a market cap of $603.80 million, a P/E ratio of 34.14 and a beta of 0.77. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.96 and a current ratio of 3.96. The company's fifty day simple moving average is $19.74 and its 200 day simple moving average is $19.00.
CTO Realty Growth (NYSE:CTO - Get Free Report) last released its quarterly earnings data 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 return on equity of 4.04% and a net margin of 17.10%. The firm had revenue of $31.81 million during the quarter, compared to analysts' expectations of $30.15 million. During the same quarter last year, the business earned $0.48 earnings per share. Equities research analysts forecast that CTO Realty Growth will post 1.8 EPS for the current fiscal year.
CTO Realty Growth Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.52 annualized dividend and a yield of 7.55%. CTO Realty Growth's dividend payout ratio is currently 257.63%.
Insider Buying and Selling
In other CTO Realty Growth news, CEO John P. Albright sold 29,488 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $20.71, for a total value of $610,696.48. Following the completion of the transaction, the chief executive officer now directly owns 570,554 shares in the company, valued at approximately $11,816,173.34. The trade was a 4.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.30% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On CTO Realty Growth
Several large investors have recently made changes to their positions in the business. Heitman Real Estate Securities LLC raised its holdings in shares of 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 valued at $18,812,000 after buying an additional 205,383 shares during the period. Grace & White Inc. NY lifted its position in shares of CTO Realty Growth by 0.4% during the second quarter. Grace & White Inc. NY now owns 604,041 shares of the company's stock worth $10,547,000 after purchasing an additional 2,602 shares in the last quarter. Ingalls & Snyder LLC boosted its stake in shares of 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 purchasing an additional 1,241 shares during the period. LSV Asset Management grew its holdings in CTO Realty Growth by 18.8% during the 2nd quarter. LSV Asset Management now owns 381,960 shares of the company's stock valued at $6,669,000 after purchasing an additional 60,480 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in CTO Realty Growth by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 299,434 shares of the company's stock worth $5,228,000 after buying an additional 1,302 shares during the period. Institutional investors and hedge funds own 67.18% of the company's stock.
About CTO Realty Growth
(
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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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