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

Key Points

• CTO Realty Growth, Inc. has declared a quarterly dividend of $0.38 per share, payable on September 30th, with a dividend yield of 9.2% based on annualized calculations.
• The company currently has a payout ratio of 633.3%, indicating it cannot cover its dividend from earnings alone; however, it is expected to achieve a payout ratio of 79.6% next year.
• CTO Realty Growth's shares recently traded at $16.58, with a market cap of $546.21 million and a price-to-earnings ratio of -14.42, signaling challenges in profit generation.

CTO Realty Growth, Inc. (NYSE:CTO - Get Free Report) announced a quarterly dividend on Tuesday, August 19th, RTT News reports. Investors of record on Thursday, September 11th will be paid a dividend of 0.38 per share on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%.

CTO Realty Growth has a payout ratio of 633.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 NYSE CTO traded up $0.1620 during midday trading on Tuesday, hitting $16.5820. 170,160 shares of the company's stock were exchanged, compared to its average volume of 306,318. CTO Realty Growth has a 12-month low of $16.12 and a 12-month high of $21.15. The company has a current ratio of 4.94, a quick ratio of 4.94 and a debt-to-equity ratio of 1.05. The company has a market cap of $546.21 million, a price-to-earnings ratio of -14.42 and a beta of 0.74. The business's fifty day moving average price is $17.30 and its two-hundred day moving average price is $18.19.

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.

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