CTO Realty Growth, Inc. (NYSE:CTO) Declares Quarterly Dividend of $0.38

CTO Realty Growth, Inc. (NYSE:CTO - Get Free Report) declared a quarterly dividend on Tuesday, May 27th, RTT News reports. Shareholders of record on Thursday, June 12th will be paid a dividend of 0.38 per share on Monday, June 30th. This represents a $1.52 dividend on an annualized basis and a yield of 8.26%. The ex-dividend date is Thursday, June 12th.

CTO Realty Growth has increased its dividend payment by an average of 2.6% per year over the last three years. CTO Realty Growth has a dividend payout ratio of 633.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect CTO Realty Growth to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 79.6%.

CTO Realty Growth Price Performance

Shares of CTO stock traded up $0.13 during trading hours on Thursday, hitting $18.40. The company's stock had a trading volume of 187,785 shares, compared to its average volume of 349,389. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 0.88. The business has a fifty day moving average of $18.14 and a 200-day moving average of $19.12. CTO Realty Growth has a twelve month low of $16.12 and a twelve month high of $21.15. The stock has a market cap of $606.04 million, a price-to-earnings ratio of -83.64 and a beta of 0.76.

CTO Realty Growth (NYSE:CTO - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.48. CTO Realty Growth had a negative return on equity of 0.38% and a negative net margin of 1.58%. The firm had revenue of $35.74 million for the quarter, compared to analysts' expectations of $33.39 million. As a group, equities research analysts anticipate that CTO Realty Growth will post 1.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CTO. B. Riley restated 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. Raymond James reissued a "strong-buy" rating on shares of CTO Realty Growth in a research note on Friday, May 23rd. Finally, Wall Street Zen lowered shares of CTO Realty Growth from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th.

Institutional Trading of CTO Realty Growth

An institutional investor recently bought a new position in CTO Realty Growth stock. Jane Street Group LLC bought a new position in CTO Realty Growth, Inc. (NYSE:CTO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 89,286 shares of the company's stock, valued at approximately $1,724,000. Jane Street Group LLC owned about 0.27% of CTO Realty Growth as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 67.18% of the company's stock.

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.