CTO Realty Growth (NYSE:CTO) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded CTO Realty Growth from “hold” to “sell,” although the broader analyst consensus remains “buy” with a $24.50 price target.
• CTO opened at $19.65, below its 50-day and 200-day moving averages, and recently reported a quarterly EPS loss of $0.19 that missed estimates despite revenue exceeding expectations.
• Institutional investors increased their holdings, with hedge funds and other institutions owning 67.18% of CTO’s outstanding shares.

CTO Realty Growth (NYSE:CTO - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other brokerages have also recently issued reports on CTO. Huntington assumed coverage on shares of CTO Realty Growth in a report on Tuesday, August 11th. They issued an "outperform" rating and a $24.00 target price on the stock. Alliance Global Partners reiterated a "buy" rating on shares of CTO Realty Growth in a report on Wednesday, July 29th. Weiss Ratings lowered shares of CTO Realty Growth from a "buy (b-)" rating to a "hold (c)" rating in a report on Wednesday. Huntington Sec initiated coverage on shares of CTO Realty Growth in a research report on Tuesday. They set a "strong-buy" rating for the company. Finally, Cantor Fitzgerald raised their price target on shares of CTO Realty Growth from $23.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $24.50.

CTO Realty Growth Price Performance

CTO opened at $19.65 on Friday. The stock's 50 day simple moving average is $20.65 and its 200 day simple moving average is $20.21. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.06 and a quick ratio of 8.69. CTO Realty Growth has a 1 year low of $16.50 and a 1 year high of $22.71. The firm has a market cap of $761.71 million, a price-to-earnings ratio of 17.24 and a beta of 0.60.

CTO Realty Growth (NYSE:CTO - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The company reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.39). CTO Realty Growth had a return on equity of 7.15% and a net margin of 26.12%. The company had revenue of $46.91 million during the quarter, compared to analysts' expectations of $45.21 million. As a group, analysts predict that CTO Realty Growth will post 2.12 earnings per share for the current year.

Institutional Investors Weigh In On CTO Realty Growth

Several institutional investors and hedge funds have recently bought and sold shares of CTO. Sumitomo Mitsui Trust Group Inc. raised its holdings in CTO Realty Growth by 35.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 39,893 shares of the company's stock worth $817,000 after purchasing an additional 10,430 shares in the last quarter. State of Wyoming lifted its position in shares of CTO Realty Growth by 56.1% in the 3rd quarter. State of Wyoming now owns 39,072 shares of the company's stock worth $801,000 after purchasing an additional 14,047 shares during the period. Asset Management One Co. Ltd. boosted its stake 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 purchasing an additional 6,827 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake 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 purchasing an additional 3,508 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new stake in shares of CTO Realty Growth during the 3rd quarter valued at about $282,000. Hedge funds and other institutional investors own 67.18% of the company's stock.

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.

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