13,318 Shares in CTO Realty Growth, Inc. (NYSE:CTO) Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. purchased a new stake in shares of CTO Realty Growth, Inc. (NYSE:CTO) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 13,318 shares of the company’s stock, valued at approximately $253,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Signaturefd LLC raised its position in shares of CTO Realty Growth by 45.4% in the third quarter. Signaturefd LLC now owns 1,785 shares of the company’s stock valued at $34,000 after purchasing an additional 557 shares during the period. Copeland Capital Management LLC bought a new position in CTO Realty Growth in the 3rd quarter valued at about $49,000. Point72 DIFC Ltd acquired a new stake in CTO Realty Growth during the third quarter worth approximately $94,000. CWM LLC boosted its holdings in shares of CTO Realty Growth by 65.6% during the third quarter. CWM LLC now owns 7,497 shares of the company’s stock worth $143,000 after acquiring an additional 2,970 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of CTO Realty Growth during the third quarter worth approximately $176,000. 67.18% of the stock is owned by institutional investors.

Insider Transactions at CTO Realty Growth

In other news, CEO John P. Albright sold 29,488 shares of CTO Realty Growth stock in a transaction on Monday, November 11th. The stock was sold at an average price of $20.71, for a total value of $610,696.48. Following the transaction, the chief executive officer now owns 570,554 shares in the company, valued at approximately $11,816,173.34. This trade represents a 4.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.30% of the stock is currently owned by insiders.

CTO Realty Growth Trading Down 1.5 %

Shares of CTO stock opened at $19.39 on Tuesday. The stock has a 50 day simple moving average of $19.88 and a 200 day simple moving average of $19.25. CTO Realty Growth, Inc. has a 1 year low of $16.16 and a 1 year high of $21.15. 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 stock has a market cap of $581.23 million, a P/E ratio of 32.86 and a beta of 0.78.

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

CTO Realty Growth Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, December 12th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.84%. The ex-dividend date of this dividend was Thursday, December 12th. CTO Realty Growth’s payout ratio is presently 257.63%.

Analyst Ratings Changes

CTO has been the subject of several research reports. StockNews.com cut CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Raymond James raised shares of CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $22.00 to $24.00 in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $21.00.

CTO Realty Growth 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.