CTO Realty Growth (NYSE:CTO) Given Buy Rating at B. Riley

B. Riley restated their buy rating on shares of CTO Realty Growth (NYSE:CTO) in a report published on Wednesday,Benzinga reports. They currently have a $23.00 price target on the stock, up from their previous price target of $22.50.

Separately, StockNews.com lowered shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. One 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’s stock. According to MarketBeat, CTO Realty Growth currently has a consensus rating of “Buy” and an average target price of $21.50.

CTO Realty Growth Price Performance

CTO Realty Growth stock opened at $18.74 on Wednesday. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 0.88. The company has a fifty day simple moving average of $19.62 and a 200-day simple moving average of $19.54. The stock has a market cap of $596.74 million, a P/E ratio of -85.18 and a beta of 0.78. CTO Realty Growth has a 12-month low of $16.33 and a 12-month high of $21.15.

CTO Realty Growth (NYSE:CTO) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.48. CTO Realty Growth had a negative return on equity of 0.38% and a negative net margin of 1.58%. The company had revenue of $35.74 million during the quarter, compared to the consensus estimate of $33.39 million. Equities analysts expect that CTO Realty Growth will post 1.92 EPS for the current fiscal year.

CTO Realty Growth Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 13th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a yield of 8.11%. CTO Realty Growth’s dividend payout ratio is presently -690.91%.

Institutional Investors Weigh In On CTO Realty Growth

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in shares of CTO Realty Growth by 162.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 161,291 shares of the company’s stock worth $3,068,000 after acquiring an additional 99,943 shares during the last quarter. Entropy Technologies LP purchased a new position in CTO Realty Growth during the 4th quarter worth $406,000. Barclays PLC grew its position in CTO Realty Growth by 251.1% during the 3rd quarter. Barclays PLC now owns 55,911 shares of the company’s stock worth $1,063,000 after purchasing an additional 39,986 shares during the last quarter. FMR LLC increased its stake in CTO Realty Growth by 461.4% in the third quarter. FMR LLC now owns 13,608 shares of the company’s stock valued at $259,000 after purchasing an additional 11,184 shares during the period. Finally, Atom Investors LP purchased a new stake in shares of CTO Realty Growth in the third quarter valued at about $1,149,000. Hedge funds and other institutional investors own 67.18% of the company’s stock.

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.