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CTO Realty Growth (NYSE:CTO) Earns Sell (D+) Rating from Weiss Ratings

CTO Realty Growth logo with Finance background

Key Points

  • CTO Realty Growth has received a "sell (D+)" rating from Weiss Ratings, reflecting analysts' cautious outlook on the stock.
  • Jones Trading lowered its target price for CTO Realty Growth from $22.00 to $21.00 while maintaining a "buy" rating.
  • The company announced a $10 million share buyback plan, indicating management's belief that its shares are undervalued.
  • MarketBeat previews top five stocks to own in November.

CTO Realty Growth (NYSE:CTO - Get Free Report)'s stock had its "sell (d+)" rating reissued by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Jones Trading cut their target price on CTO Realty Growth from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

Check Out Our Latest Analysis on CTO Realty Growth

CTO Realty Growth Price Performance

NYSE:CTO traded up $0.04 during trading hours on Wednesday, reaching $15.39. The stock had a trading volume of 479,146 shares, compared to its average volume of 385,067. The stock has a market capitalization of $506.95 million, a PE ratio of -13.38 and a beta of 0.75. The company has a debt-to-equity ratio of 1.05, a quick ratio of 4.94 and a current ratio of 4.94. The company has a 50 day moving average price of $16.52 and a two-hundred day moving average price of $17.48. CTO Realty Growth has a 52 week low of $15.06 and a 52 week high of $20.88.

CTO Realty Growth declared that its board has initiated a share buyback plan on Wednesday, September 24th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the company to buy up to 1.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at CTO Realty Growth

In other CTO Realty Growth news, CEO John P. Albright acquired 4,200 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was bought at an average price of $16.53 per share, for a total transaction of $69,426.00. Following the acquisition, the chief executive officer directly owned 632,547 shares in the company, valued at $10,456,001.91. The trade was a 0.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders acquired 8,950 shares of company stock worth $147,739. 4.00% of the stock is owned by insiders.

Hedge Funds Weigh In On CTO Realty Growth

A number of large investors have recently bought and sold shares of the business. New York State Teachers Retirement System purchased a new stake in shares of CTO Realty Growth in the 1st quarter worth $51,000. Tower Research Capital LLC TRC lifted its holdings 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 worth $63,000 after buying an additional 1,245 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its holdings 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 worth $122,000 after buying an additional 1,377 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of CTO Realty Growth by 17.3% in 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 during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of CTO Realty Growth in the 1st quarter worth $199,000. Hedge funds and other institutional investors own 67.18% of the company's stock.

CTO Realty Growth Company Profile

(Get Free Report)

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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