CTO Realty Growth (NYSE:CTO) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of CTO Realty Growth (NYSE:CTO) from a hold rating to a sell rating in a report published on Saturday.

CTO Realty Growth Price Performance

CTO Realty Growth stock opened at $19.15 on Friday. The business’s fifty day moving average is $19.64 and its two-hundred day moving average is $19.54. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.96 and a current ratio of 3.96. The firm has a market cap of $609.79 million, a P/E ratio of -87.05 and a beta of 0.78. CTO Realty Growth has a 52 week low of $16.33 and a 52 week high of $21.15.

CTO Realty Growth (NYSE:CTO) last issued its quarterly 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. The business had revenue of $35.74 million for the quarter, compared to the consensus estimate of $33.39 million. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. Equities research analysts forecast that CTO Realty Growth will post 1.92 earnings per share for the current fiscal year.

CTO Realty Growth Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.94%. The ex-dividend date of this dividend is Thursday, March 13th. CTO Realty Growth’s dividend payout ratio is -690.91%.

Institutional Investors Weigh In On CTO Realty Growth

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Summit Investment Advisors Inc. boosted its holdings in CTO Realty Growth by 39.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,020 shares of the company’s stock valued at $60,000 after acquiring an additional 852 shares during the last quarter. NewEdge Advisors LLC lifted its position in CTO Realty Growth by 300.0% during the 4th quarter. NewEdge Advisors LLC now owns 4,000 shares of the company’s stock valued at $79,000 after purchasing an additional 3,000 shares during the period. Point72 DIFC Ltd bought a new position in shares of CTO Realty Growth in the 3rd quarter valued at about $94,000. Daiwa Securities Group Inc. grew its position in shares of CTO Realty Growth by 32.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 8,666 shares of the company’s stock worth $171,000 after buying an additional 2,118 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of CTO Realty Growth during the fourth quarter worth approximately $179,000. 67.18% of the stock is owned by institutional investors and hedge funds.

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.