CTO Realty Growth, Inc. (NYSE:CTO) Stock Has Average Target Price of $24.50 According to Brokerages

CTO Realty Growth, Inc. (NYSE:CTO) has received a consensus recommendation of “Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $24.00.

CTO has been the subject of a number of research analyst reports. Zacks Research lowered CTO Realty Growth from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Huntington began coverage on shares of CTO Realty Growth in a research report on Tuesday, October 27th. They set a “strong-buy” rating on the stock. JonesTrading restated a “buy” rating and issued a $24.00 price objective on shares of CTO Realty Growth in a report on Thursday, October 1st. Cantor Fitzgerald decreased their price objective on shares of CTO Realty Growth from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday. Finally, Wall Street Zen cut shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st.

CTO Realty Growth Trading Up 0.4%

CTO opened at $20.24 on Friday. CTO Realty Growth has a one year low of $17.02 and a one year high of $22.71. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.06 and a quick ratio of 6.06. The business has a 50 day simple moving average of $20.49 and a two-hundred day simple moving average of $20.26. The firm has a market capitalization of $784.50 million, a price-to-earnings ratio of 17.75 and a beta of 0.63.

CTO Realty Growth (NYSE:CTO) last issued its quarterly earnings data on Tuesday, October 27th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.39). CTO Realty Growth had a return on equity of 7.15% and a net margin of 26.12%. The business had revenue of $46.91 million during the quarter, compared to the consensus estimate of $45.21 million. Analysts predict that CTO Realty Growth will post 2.11 EPS for the current year.

CTO Realty Growth Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 10th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, September 10th. This represents a $1.52 annualized dividend and a dividend yield of 7.5%. CTO Realty Growth’s payout ratio is currently 133.33%.

Institutional Trading of CTO Realty Growth

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in shares of CTO Realty Growth by 29.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,868 shares of the company’s stock worth $59,000 after acquiring an additional 660 shares during the period. Triumph Capital Management lifted its position in CTO Realty Growth by 37.2% during the third quarter. Triumph Capital Management now owns 3,320 shares of the company’s stock valued at $68,000 after buying an additional 900 shares during the period. Legal & General Group Plc purchased a new position in CTO Realty Growth during the second quarter valued at $70,000. Integrated Wealth Concepts LLC bought a new stake in CTO Realty Growth during the second quarter worth about $101,000. Finally, Virtus Advisers LLC bought a new stake in shares of CTO Realty Growth in the 2nd quarter worth approximately $120,000. 67.18% of the stock is currently owned by hedge funds and other institutional investors.

CTO Realty Growth Company Profile

CTO Realty Growth, Inc is an internally managed real estate investment trust (REIT) that owns, manages and invests in income-producing commercial real estate. The company’s portfolio is focused primarily on open-air shopping centers and other retail properties, including locations anchored by grocery stores, home-improvement retailers and other necessity-based tenants.

The company also makes structured investments in commercial real estate and may pursue additional property investments in select markets.