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CTO Realty Growth (NYSE:CTO) Now Covered by Huntington Sec

CTO Realty Growth logo with Real Estate background
Image from MarketBeat Media, LLC.

Key Points

  • Huntington Sec initiated coverage of CTO Realty Growth with a “strong-buy” rating. Overall analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $24.50 versus the stock’s $19.02 opening price.
  • CTO reported quarterly revenue of $46.91 million, exceeding the $45.21 million consensus estimate, but posted a loss of $0.19 per share, falling well short of analysts’ expected $0.20 profit.
  • Institutional investors own 67.18% of the company, while recent investment activity and a new $1.0 billion credit facility support CTO’s acquisition capacity and liquidity.
  • Interested in CTO Realty Growth? Here are five stocks we like better.

Research analysts at Huntington Sec assumed coverage on shares of CTO Realty Growth (NYSE:CTO - Get Free Report) in a report released on Tuesday, Zacks reports. The brokerage set a "strong-buy" rating on the stock.

CTO has been the topic of several other reports. Cantor Fitzgerald raised their target price on CTO Realty Growth from $23.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Zacks Research lowered CTO Realty Growth from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 31st. Huntington assumed coverage on CTO Realty Growth in a research note on Tuesday, August 11th. They issued an "outperform" rating and a $24.00 price target for the company. Alliance Global Partners reissued a "buy" rating on shares of CTO Realty Growth in a report on Wednesday, July 29th. Finally, JonesTrading reissued a "buy" rating and set a $24.00 price target on shares of CTO Realty Growth in a report on Thursday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, CTO Realty Growth has a consensus rating of "Buy" and a consensus target price of $24.50.

Get Our Latest Stock Analysis on CTO

CTO Realty Growth Price Performance

Shares of CTO stock opened at $19.02 on Tuesday. The firm has a fifty day moving average of $20.75 and a two-hundred day moving average of $20.20. The firm has a market cap of $713.15 million, a P/E ratio of 13.99 and a beta of 0.60. CTO Realty Growth has a 1-year low of $16.38 and a 1-year high of $22.71. The company has a debt-to-equity ratio of 0.99, a current ratio of 8.69 and a quick ratio of 8.69.

CTO Realty Growth (NYSE:CTO - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.39). CTO Realty Growth had a net margin of 32.63% and a return on equity of 8.90%. The firm had revenue of $46.91 million during the quarter, compared to the consensus estimate of $45.21 million. As a group, research analysts anticipate that CTO Realty Growth will post 2.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CTO Realty Growth

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wyoming increased its holdings in shares of CTO Realty Growth by 56.1% in the third quarter. State of Wyoming now owns 39,072 shares of the company's stock valued at $801,000 after buying an additional 14,047 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of CTO Realty Growth by 15.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 50,461 shares of the company's stock valued at $1,034,000 after acquiring an additional 6,827 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in shares of CTO Realty Growth by 4.6% during the 3rd quarter. Pinnacle Associates Ltd. now owns 79,784 shares of the company's stock valued at $1,635,000 after acquiring an additional 3,508 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of CTO Realty Growth during the 3rd quarter worth $282,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of CTO Realty Growth during the 3rd quarter worth $235,000. 67.18% of the stock is owned by institutional investors.

Key Stories Impacting CTO Realty Growth

Here are the key news stories impacting CTO Realty Growth this week:

CTO Realty Growth Company Profile

(Get Free Report)

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.

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Analyst Recommendations for CTO Realty Growth (NYSE:CTO)

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.

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