MetLife Investment Management LLC Lowers Stock Position in CTO Realty Growth, Inc. (NYSE:CTO)

MetLife Investment Management LLC trimmed its holdings in shares of CTO Realty Growth, Inc. (NYSE:CTO) by 14.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,893 shares of the company’s stock after selling 1,939 shares during the quarter. MetLife Investment Management LLC’s holdings in CTO Realty Growth were worth $226,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of CTO Realty Growth by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 1,079,798 shares of the company’s stock worth $18,303,000 after acquiring an additional 5,617 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of CTO Realty Growth by 5.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,111 shares of the company’s stock valued at $392,000 after buying an additional 1,156 shares during the last quarter. CWM LLC boosted its holdings in shares of CTO Realty Growth by 17.5% in the 2nd quarter. CWM LLC now owns 4,527 shares of the company’s stock valued at $79,000 after buying an additional 673 shares in the last quarter. Grace & White Inc. NY grew its position in shares of CTO Realty Growth by 0.4% in the 2nd quarter. Grace & White Inc. NY now owns 604,041 shares of the company’s stock worth $10,547,000 after buying an additional 2,602 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of CTO Realty Growth by 6.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 138,472 shares of the company’s stock worth $2,418,000 after acquiring an additional 8,172 shares in the last quarter. Institutional investors own 67.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CTO. StockNews.com lowered shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Raymond James upgraded CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $22.00 to $24.00 in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $21.00.

Insider Buying and Selling at CTO Realty Growth

In related news, CEO John P. Albright sold 29,488 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $20.71, for a total transaction of $610,696.48. Following the completion of the transaction, the chief executive officer now owns 570,554 shares of the company’s stock, valued at $11,816,173.34. This trade represents a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.30% of the company’s stock.

CTO Realty Growth Trading Down 0.3 %

NYSE:CTO opened at $20.44 on Monday. The company has a market capitalization of $612.79 million, a P/E ratio of 34.64 and a beta of 0.77. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 0.88. CTO Realty Growth, Inc. has a 12 month low of $16.16 and a 12 month high of $21.15. The firm has a fifty day simple moving average of $19.61 and a 200-day simple moving average of $18.93.

CTO Realty Growth (NYSE:CTO) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.27). The firm had revenue of $31.81 million for the quarter, compared to analyst estimates of $30.15 million. CTO Realty Growth had a return on equity of 4.04% and a net margin of 17.10%. During the same period in the prior year, the firm posted $0.48 EPS. On average, equities research analysts anticipate that CTO Realty Growth, Inc. will post 1.8 earnings per share for the current year.

CTO Realty Growth Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 7.44%. The ex-dividend date is Thursday, December 12th. CTO Realty Growth’s dividend payout ratio is presently 257.63%.

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.