Raymond James Financial Inc. Takes Position in CTO Realty Growth, Inc. (NYSE:CTO)

Raymond James Financial Inc. bought a new stake in shares of CTO Realty Growth, Inc. (NYSE:CTO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 192,158 shares of the company’s stock, valued at approximately $3,787,000.

Other large investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of CTO Realty Growth by 162.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 161,291 shares of the company’s stock valued at $3,068,000 after buying an additional 99,943 shares during the period. Entropy Technologies LP purchased a new stake in CTO Realty Growth in the fourth quarter worth $406,000. Barclays PLC increased its stake in CTO Realty Growth by 251.1% in the third quarter. Barclays PLC now owns 55,911 shares of the company’s stock worth $1,063,000 after purchasing an additional 39,986 shares during the period. Principal Financial Group Inc. lifted its position in shares of CTO Realty Growth by 13.7% during the fourth quarter. Principal Financial Group Inc. now owns 15,139 shares of the company’s stock worth $298,000 after purchasing an additional 1,821 shares during the last quarter. Finally, FMR LLC boosted its position in CTO Realty Growth by 461.4% in the 3rd quarter. FMR LLC now owns 13,608 shares of the company’s stock valued at $259,000 after buying an additional 11,184 shares during the period. Institutional investors own 67.18% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com cut CTO Realty Growth from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. B. Riley reissued a “buy” rating and issued a $23.00 price target (up previously from $22.50) on shares of CTO Realty Growth in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, CTO Realty Growth currently has an average rating of “Buy” and a consensus target price of $21.50.

CTO Realty Growth Trading Down 0.5 %

Shares of CTO Realty Growth stock opened at $19.04 on Thursday. CTO Realty Growth, Inc. has a fifty-two week low of $16.51 and a fifty-two week high of $21.15. 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 stock has a 50 day moving average of $19.44 and a 200 day moving average of $19.52. The firm has a market capitalization of $606.29 million, a price-to-earnings ratio of -86.55 and a beta of 0.77.

CTO Realty Growth (NYSE:CTO) last released its earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.01 by $0.48. The firm had revenue of $35.74 million during the quarter, compared to analysts’ expectations of $33.39 million. CTO Realty Growth had a negative return on equity of 0.38% and a negative net margin of 1.58%. As a group, research analysts predict that CTO Realty Growth, Inc. will post 1.92 earnings per share for the current year.

CTO Realty Growth Announces Dividend

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 dividend yield of 7.98%. The ex-dividend date is Thursday, March 13th. CTO Realty Growth’s payout ratio is -690.91%.

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.