Cantor Fitzgerald Issues Pessimistic Forecast for CTO Realty Growth (NYSE:CTO) Stock Price

Key Points

• Cantor Fitzgerald lowered its CTO Realty Growth price target from $25 to $23 but maintained an “overweight” rating; the revised target implies 14.17% upside from the prior close.
• Analyst sentiment is broadly positive: CTO has a consensus “Buy” rating and an average price target of $24, though some firms rate it “Hold.”
• CTO reported quarterly EPS of -$0.19, missing the $0.20 consensus estimate, while revenue of $46.91 million exceeded forecasts of $45.21 million.

CTO Realty Growth (NYSE:CTO - Get Free Report) had its price target cut by investment analysts at Cantor Fitzgerald from $25.00 to $23.00 in a research report issued on Friday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Cantor Fitzgerald's price target suggests a potential upside of 14.17% from the stock's previous close.

Other analysts also recently issued research reports about the company. JonesTrading reaffirmed a "buy" rating and set a $24.00 price objective on shares of CTO Realty Growth in a research note on Thursday, October 1st. Weiss Ratings downgraded shares of CTO Realty Growth from a "buy (b-)" rating to a "hold (c)" rating in a research note on Wednesday, October 28th. Huntington assumed coverage on CTO Realty Growth in a research report on Tuesday, October 27th. They set a "strong-buy" rating on the stock. Zacks Research downgraded CTO Realty Growth from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of CTO Realty Growth in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, CTO Realty Growth currently has a consensus rating of "Buy" and an average target price of $24.00.

CTO Realty Growth Price Performance

Shares of NYSE:CTO opened at $20.14 on Friday. The firm has a market capitalization of $780.82 million, a PE ratio of 17.67 and a beta of 0.63. CTO Realty Growth has a 1-year low of $16.91 and a 1-year high of $22.71. The business's 50 day moving average is $20.52 and its 200-day moving average is $20.25. The company has a current ratio of 6.06, a quick ratio of 6.06 and a debt-to-equity ratio of 1.05.

CTO Realty Growth (NYSE:CTO - Get Free Report) last posted its earnings results on Tuesday, October 27th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.39). The company had revenue of $46.91 million for the quarter, compared to the consensus estimate of $45.21 million. CTO Realty Growth had a return on equity of 7.15% and a net margin of 26.12%. Sell-side analysts predict that CTO Realty Growth will post 2.11 earnings per share for the current year.

Institutional Trading of CTO Realty Growth

A number of large investors have recently bought and sold shares of CTO. GAMMA Investing LLC grew its stake in shares of CTO Realty Growth by 29.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,868 shares of the company's stock valued at $59,000 after purchasing an additional 660 shares during the period. Triumph Capital Management increased its stake in shares of CTO Realty Growth by 37.2% in the third quarter. Triumph Capital Management now owns 3,320 shares of the company's stock worth $68,000 after purchasing an additional 900 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of CTO Realty Growth in the second quarter worth $70,000. Integrated Wealth Concepts LLC bought a new position in shares of CTO Realty Growth in the second quarter worth about $101,000. Finally, Virtus Advisers LLC bought a new position in CTO Realty Growth in the 2nd quarter worth approximately $120,000. 67.18% of the stock is currently owned by institutional investors and hedge funds.

CTO Realty Growth Company Profile

CTO Realty Growth, Inc is an internally managed real estate investment trust (REIT) that owns, manages and invests in income-producing commercial real estate. The company's portfolio is focused primarily on open-air shopping centers and other retail properties, including locations anchored by grocery stores, home-improvement retailers and other necessity-based tenants.

The company also makes structured investments in commercial real estate and may pursue additional property investments in select markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.