State Street Corp Cuts Position in CTO Realty Growth, Inc. (NYSE:CTO)

State Street Corp trimmed its position in CTO Realty Growth, Inc. (NYSE:CTO - Free Report) by 7.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 451,931 shares of the company's stock after selling 39,028 shares during the quarter. State Street Corp owned 1.51% of CTO Realty Growth worth $8,596,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC raised its position in shares of CTO Realty Growth by 145.0% in the second quarter. Hsbc Holdings PLC now owns 88,707 shares of the company's stock valued at $1,531,000 after buying an additional 52,500 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in CTO Realty Growth by 162.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 161,291 shares of the company's stock valued at $3,068,000 after acquiring an additional 99,943 shares in the last quarter. AXA S.A. bought a new stake in shares of CTO Realty Growth during the 2nd quarter valued at $900,000. Sequoia Financial Advisors LLC acquired a new stake in shares of CTO Realty Growth during the 3rd quarter worth $404,000. Finally, Atom Investors LP bought a new position in shares of CTO Realty Growth in the third quarter worth $1,149,000. Institutional investors and hedge funds own 67.18% of the company's stock.

Analyst Ratings Changes

CTO has been the subject of several analyst reports. StockNews.com cut shares of CTO Realty Growth from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. Raymond James upgraded shares of CTO Realty Growth from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from $22.00 to $24.00 in a report on Wednesday, October 30th. One 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 MarketBeat, CTO Realty Growth presently has a consensus rating of "Buy" and an average target price of $21.00.

CTO Realty Growth Trading Down 0.9 %

CTO stock traded down $0.18 during trading on Friday, hitting $19.40. The company had a trading volume of 252,229 shares, compared to its average volume of 278,215. The stock has a market cap of $581.53 million, a PE ratio of 32.88 and a beta of 0.77. The business has a 50-day moving average of $19.87 and a 200-day moving average of $19.14. 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, Inc. has a one year low of $16.16 and a one 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 business had revenue of $31.81 million during the quarter, compared to analyst estimates of $30.15 million. CTO Realty Growth had a net margin of 17.10% and a return on equity of 4.04%. During the same period last year, the firm posted $0.48 earnings per share. Research analysts predict that CTO Realty Growth, Inc. will post 1.8 earnings per share for the current fiscal year.

CTO Realty Growth Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 12th will be paid a $0.38 dividend. The ex-dividend date is Thursday, December 12th. This represents a $1.52 annualized dividend and a dividend yield of 7.84%. CTO Realty Growth's dividend payout ratio is presently 257.63%.

Insider Activity at CTO Realty Growth

In other CTO Realty Growth news, CEO John P. Albright sold 29,488 shares of CTO Realty Growth stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.71, for a total transaction of $610,696.48. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.30% of the stock is currently owned by corporate insiders.

About CTO Realty Growth

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.