CTO Realty Growth, Inc. (NYSE:CTO) Declares Quarterly Dividend of $0.38

CTO Realty Growth, Inc. (NYSE:CTO) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Thursday, March 13th will be given a dividend of 0.38 per share on Monday, March 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.99%. The ex-dividend date of this dividend is Thursday, March 13th.

CTO Realty Growth has increased its dividend payment by an average of 2.6% annually over the last three years. CTO Realty Growth has a payout ratio of -1,511.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect CTO Realty Growth to earn $1.92 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 70.8%.

CTO Realty Growth Price Performance

Shares of NYSE:CTO traded down $1.18 during mid-day trading on Friday, reaching $19.04. The stock had a trading volume of 837,375 shares, compared to its average volume of 258,626. 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 market cap of $570.67 million, a P/E ratio of 32.26 and a beta of 0.78. CTO Realty Growth has a 1 year low of $16.33 and a 1 year high of $21.15. The business’s 50 day moving average price is $19.76 and its 200 day moving average price is $19.57.

CTO Realty Growth (NYSE:CTO) last posted its earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.48. The company had revenue of $35.74 million for the quarter, compared to the consensus estimate of $33.39 million. CTO Realty Growth had a return on equity of 4.04% and a net margin of 17.10%. Research analysts expect that CTO Realty Growth will post 1.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

CTO Realty Growth Company Profile

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.