CTO Realty Growth (NYSE:CTO) Shares Gap Down – Here’s What Happened

Shares of CTO Realty Growth, Inc. (NYSE:CTO) gapped down before the market opened on Friday . The stock had previously closed at $20.21, but opened at $19.56. CTO Realty Growth shares last traded at $18.59, with a volume of 194,027 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CTO. Raymond James upgraded shares of CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $22.00 to $24.00 in a research note on Wednesday, October 30th. StockNews.com cut CTO Realty Growth from a “hold” rating to a “sell” rating in a research report on Monday, October 28th.

CTO Realty Growth Stock Down 5.4 %

The stock has a 50-day moving average of $19.76 and a 200-day moving average of $19.57. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.96 and a quick ratio of 3.96. The firm has a market cap of $573.22 million, a price-to-earnings ratio of 32.40 and a beta of 0.78.

CTO Realty Growth (NYSE:CTO) last released its 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. CTO Realty Growth had a return on equity of 4.04% and a net margin of 17.10%. The company had revenue of $35.74 million for the quarter, compared to analyst estimates of $33.39 million. Sell-side analysts predict that CTO Realty Growth, Inc. will post 1.81 EPS for the current fiscal year.

Institutional Investors Weigh In On CTO Realty Growth

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in CTO Realty Growth by 118.6% during the 4th quarter. Vanguard Group Inc. now owns 2,514,789 shares of the company’s stock worth $49,566,000 after purchasing an additional 1,364,637 shares during the last quarter. Heitman Real Estate Securities LLC raised its stake in CTO Realty Growth by 26.2% during the third quarter. Heitman Real Estate Securities LLC now owns 989,073 shares of the company’s stock worth $18,812,000 after buying an additional 205,383 shares during the last quarter. Geode Capital Management LLC raised its stake in CTO Realty Growth by 30.9% during the fourth quarter. Geode Capital Management LLC now owns 679,893 shares of the company’s stock worth $13,403,000 after buying an additional 160,593 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in CTO Realty Growth by 29.1% in the fourth quarter. Two Sigma Advisers LP now owns 509,701 shares of the company’s stock valued at $10,046,000 after buying an additional 115,000 shares during the period. Finally, Invesco Ltd. boosted its position in CTO Realty Growth by 681.9% during the fourth quarter. Invesco Ltd. now owns 468,556 shares of the company’s stock valued at $9,235,000 after acquiring an additional 408,632 shares during the last quarter. 67.18% of the stock is owned by institutional investors.

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.