Polymer Capital Management US LLC Invests $247,000 in CTO Realty Growth, Inc. (NYSE:CTO)

Polymer Capital Management US LLC purchased a new stake in CTO Realty Growth, Inc. (NYSE:CTO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,528 shares of the company’s stock, valued at approximately $247,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its position in CTO Realty Growth by 20.2% in the fourth quarter. Wells Fargo & Company MN now owns 94,011 shares of the company’s stock valued at $1,853,000 after buying an additional 15,788 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of CTO Realty Growth during the 4th quarter valued at $203,000. Geode Capital Management LLC grew its position in CTO Realty Growth by 30.9% during the 4th quarter. Geode Capital Management LLC now owns 679,893 shares of the company’s stock worth $13,403,000 after acquiring an additional 160,593 shares during the last quarter. Alliancebernstein L.P. increased its holdings in CTO Realty Growth by 29.1% in the 4th quarter. Alliancebernstein L.P. now owns 23,598 shares of the company’s stock worth $465,000 after purchasing an additional 5,320 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC raised its position in CTO Realty Growth by 130.3% in the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 203,541 shares of the company’s stock valued at $4,012,000 after purchasing an additional 115,146 shares during the last quarter. 67.18% of the stock is owned by institutional investors.

CTO Realty Growth Price Performance

CTO Realty Growth stock opened at $17.35 on Tuesday. The stock’s 50 day moving average is $19.33 and its 200 day moving average is $19.50. CTO Realty Growth, Inc. has a one year low of $16.51 and a one year high of $21.15. The firm has a market cap of $552.57 million, a P/E ratio of -78.88 and a beta of 0.61. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.96 and a quick ratio of 3.96.

CTO Realty Growth (NYSE:CTO) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.48. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. The company had revenue of $35.74 million for the quarter, compared to analyst estimates of $33.39 million. As a group, research analysts expect that CTO Realty Growth, Inc. will post 1.92 EPS for the current year.

CTO Realty Growth Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 13th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 8.76%. The ex-dividend date was Thursday, March 13th. CTO Realty Growth’s dividend payout ratio (DPR) is presently -690.91%.

Analysts Set New Price Targets

CTO has been the topic of several research reports. B. Riley restated a “buy” rating and set a $23.00 price target (up from $22.50) on shares of CTO Realty Growth in a report on Wednesday, March 5th. StockNews.com lowered shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. One equities research 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. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $21.50.

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.