CTO Realty Growth (NYSE:CTO) Issues FY 2024 Earnings Guidance

CTO Realty Growth (NYSE:CTO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.950-2.000 for the period, compared to the consensus EPS estimate of 1.640. The company issued revenue guidance of -.

CTO Realty Growth Trading Up 3.3 %

Shares of CTO traded up $0.63 during midday trading on Friday, reaching $19.61. The company had a trading volume of 207,037 shares, compared to its average volume of 144,264. CTO Realty Growth has a 1-year low of $15.63 and a 1-year high of $19.76. The stock has a market cap of $450.05 million, a PE ratio of 35.66 and a beta of 0.76. The firm has a 50 day simple moving average of $17.84 and a 200-day simple moving average of $17.23. The company has a quick ratio of 4.74, a current ratio of 4.74 and a debt-to-equity ratio of 1.17.

CTO Realty Growth (NYSE:CTO) last issued its earnings results on Thursday, July 25th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.42). The company had revenue of $28.85 million during the quarter, compared to analyst estimates of $27.46 million. CTO Realty Growth had a return on equity of 3.59% and a net margin of 14.52%. During the same period last year, the business earned $0.48 earnings per share. Research analysts forecast that CTO Realty Growth will post 1.61 EPS for the current fiscal year.

CTO Realty Growth Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 13th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.75%. The ex-dividend date was Thursday, June 13th. CTO Realty Growth’s payout ratio is 276.37%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CTO shares. Jonestrading cut their price objective on CTO Realty Growth from $21.00 to $19.00 and set a buy rating for the company in a research report on Monday, May 6th. Alliance Global Partners started coverage on CTO Realty Growth in a research report on Monday, April 8th. They set a buy rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, CTO Realty Growth currently has a consensus rating of Moderate Buy and a consensus target price of $19.33.

Insider Buying and Selling at CTO Realty Growth

In other CTO Realty Growth news, major shareholder Cto Realty Growth, Inc. bought 6,262 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was purchased at an average price of $15.00 per share, for a total transaction of $93,930.00. Following the completion of the purchase, the insider now directly owns 196,356 shares in the company, valued at $2,945,340. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 21,804 shares of company stock valued at $326,747 in the last three months. 5.00% of the stock is 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.