CTO Realty Growth (NYSE:CTO) CEO Buys $32,760.00 in Stock

Key Points

• CTO Realty Growth CEO John Albright purchased 2,000 shares for a total of $32,760, increasing his ownership to 634,547 shares valued at approximately $10.39 million.
• The firm announced a quarterly dividend of $0.38 per share, which yields 9.3%, to be paid to shareholders on September 30th.
• Several institutional investors have increased their positions in CTO Realty Growth, indicating strong interest in the stock, which currently has an average analyst rating of "Buy" and a price target of $22.00.

CTO Realty Growth, Inc. (NYSE:CTO - Get Free Report) CEO John P. Albright acquired 2,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was bought at an average cost of $16.38 per share, with a total value of $32,760.00. Following the completion of the purchase, the chief executive officer directly owned 634,547 shares in the company, valued at approximately $10,393,879.86. The trade was a 0.32% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

CTO Realty Growth Trading Up 0.5%

CTO traded up $0.09 during trading on Thursday, hitting $16.46. 216,259 shares of the stock were exchanged, compared to its average volume of 300,839. The firm has a 50 day simple moving average of $16.94 and a 200 day simple moving average of $17.78. The firm has a market cap of $542.19 million, a price-to-earnings ratio of -14.31 and a beta of 0.74. CTO Realty Growth, Inc. has a 1 year low of $16.12 and a 1 year high of $20.88. The company has a debt-to-equity ratio of 1.05, a quick ratio of 4.94 and a current ratio of 4.94.

CTO Realty Growth Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Thursday, September 11th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 9.2%. The ex-dividend date is Thursday, September 11th. CTO Realty Growth's dividend payout ratio (DPR) is presently -132.17%.

Institutional Trading of CTO Realty Growth

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. New York State Teachers Retirement System acquired a new stake in CTO Realty Growth during the 1st quarter worth about $51,000. Tower Research Capital LLC TRC increased its stake in shares of CTO Realty Growth by 51.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,654 shares of the company's stock valued at $63,000 after purchasing an additional 1,245 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its stake in shares of CTO Realty Growth by 24.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 7,050 shares of the company's stock valued at $122,000 after purchasing an additional 1,377 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of CTO Realty Growth in the 4th quarter valued at about $179,000. Finally, Daiwa Securities Group Inc. increased its stake in CTO Realty Growth by 17.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 10,162 shares of the company's stock worth $175,000 after buying an additional 1,496 shares in the last quarter. Institutional investors and hedge funds own 67.18% of the company's stock.

Analyst Upgrades and Downgrades

CTO has been the topic of several research reports. Jones Trading reduced their price objective on CTO Realty Growth from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of CTO Realty Growth in a research report on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $22.00.

CTO Realty Growth Company Profile

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.