CTO Realty Growth (NYSE:CTO) Earns Buy Rating from B. Riley

CTO Realty Growth (NYSE:CTO)‘s stock had its “buy” rating reissued by B. Riley in a research report issued on Wednesday,Benzinga reports. They presently have a $23.00 price objective on the stock, up from their prior price objective of $22.50. B. Riley’s price objective points to a potential upside of 22.84% from the stock’s current price.

Separately, StockNews.com downgraded shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. 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 company. According to data from MarketBeat, CTO Realty Growth currently has an average rating of “Buy” and an average target price of $21.50.

CTO Realty Growth Stock Performance

Shares of NYSE:CTO opened at $18.72 on Wednesday. The firm has a market cap of $596.23 million, a PE ratio of -85.11 and a beta of 0.77. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.88. The company’s 50 day moving average price is $19.61 and its two-hundred day moving average price is $19.54. CTO Realty Growth has a 12-month low of $16.33 and a 12-month high of $21.15.

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

Institutional Investors Weigh In On CTO Realty Growth

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

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.