Crossingbridge Advisors LLC Takes Position in CTO Realty Growth, Inc. (NYSE:CTO)

Crossingbridge Advisors LLC bought a new stake in shares of CTO Realty Growth, Inc. (NYSE:CTO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 40,000 shares of the company's stock, valued at approximately $788,000. Crossingbridge Advisors LLC owned 0.13% of CTO Realty Growth at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Entropy Technologies LP bought a new stake in CTO Realty Growth during the 4th quarter valued at about $406,000. Principal Financial Group Inc. boosted its holdings in shares of CTO Realty Growth by 13.7% in the fourth quarter. Principal Financial Group Inc. now owns 15,139 shares of the company's stock valued at $298,000 after purchasing an additional 1,821 shares during the period. Barclays PLC boosted its holdings in shares of CTO Realty Growth by 251.1% in the third quarter. Barclays PLC now owns 55,911 shares of the company's stock valued at $1,063,000 after purchasing an additional 39,986 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of CTO Realty Growth in the fourth quarter valued at approximately $3,787,000. Finally, Invesco Ltd. grew its stake in CTO Realty Growth by 681.9% in the fourth quarter. Invesco Ltd. now owns 468,556 shares of the company's stock worth $9,235,000 after purchasing an additional 408,632 shares in the last quarter. 67.18% of the stock is owned by hedge funds and other institutional investors.

CTO Realty Growth Stock Down 0.6 %

NYSE CTO traded down $0.11 during midday trading on Thursday, hitting $18.17. 73,907 shares of the company traded hands, compared to its average volume of 315,618. CTO Realty Growth, Inc. has a 52 week low of $16.12 and a 52 week high of $21.15. The company's 50-day simple moving average is $18.49 and its 200-day simple moving average is $19.35. The company has a market cap of $578.43 million, a PE ratio of -82.57 and a beta of 0.61. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.96 and a quick ratio of 3.96.

CTO Realty Growth (NYSE:CTO - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.48. The company had revenue of $35.74 million for 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%. As a group, equities research analysts forecast 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 was paid on Monday, March 31st. Stockholders of record on Thursday, March 13th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.37%. The ex-dividend date was Thursday, March 13th. CTO Realty Growth's payout ratio is currently -690.91%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. B. Riley reiterated a "buy" rating and issued a $23.00 target price (up from $22.50) on shares of CTO Realty Growth in a report on Wednesday, March 5th. StockNews.com lowered shares of CTO Realty Growth from a "hold" rating to a "sell" rating in a research note on Saturday, March 1st. One equities research analyst has rated the stock with a sell rating, two have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, CTO Realty Growth presently has an average rating of "Buy" and a consensus target price of $22.00.

About CTO Realty Growth

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.