CTO Realty Growth (NYSE:CTO) Posts Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• CTO Realty Growth reported earnings of $0.47 per share, missing analysts' estimates of $0.49 by $0.02.
• The company declared a quarterly dividend of $0.38, with an annualized yield of 8.67%.
• Insider transactions showed key executives increasing their stakes, with the CEO purchasing 3,800 shares at an average price of $17.05.

CTO Realty Growth (NYSE:CTO - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.02), Zacks reports. CTO Realty Growth had a negative return on equity of 0.97% and a negative net margin of 4.20%.

CTO Realty Growth Price Performance

NYSE:CTO traded up $0.19 during trading hours on Tuesday, hitting $17.53. 274,756 shares of the company's stock traded hands, compared to its average volume of 304,617. The firm has a market cap of $577.22 million, a P/E ratio of -42.75 and a beta of 0.73. CTO Realty Growth has a 52 week low of $16.12 and a 52 week high of $21.15. The business's fifty day simple moving average is $17.86 and its two-hundred day simple moving average is $18.52. The company has a quick ratio of 5.54, a current ratio of 5.54 and a debt-to-equity ratio of 1.01.

CTO Realty Growth Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 12th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.67%. The ex-dividend date of this dividend was Thursday, June 12th. CTO Realty Growth's payout ratio is currently -370.73%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CTO shares. Raymond James Financial reissued a "strong-buy" rating on shares of CTO Realty Growth in a research note on Friday, May 23rd. Wall Street Zen lowered CTO Realty Growth from a "hold" rating to a "sell" rating in a report on Tuesday, May 13th.

Insider Buying and Selling at CTO Realty Growth

In other CTO Realty Growth news, Director George R. Brokaw acquired 2,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was bought at an average price of $16.94 per share, with a total value of $33,880.00. Following the completion of the purchase, the director owned 91,701 shares of the company's stock, valued at approximately $1,553,414.94. This represents a 2.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John P. Albright acquired 3,800 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were acquired at an average cost of $17.05 per share, with a total value of $64,790.00. Following the purchase, the chief executive officer directly owned 628,347 shares of the company's stock, valued at $10,713,316.35. This trade represents a 0.61% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 7,800 shares of company stock valued at $132,960 in the last three months. 4.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CTO Realty Growth

A hedge fund recently bought a new stake in CTO Realty Growth stock. Jane Street Group LLC purchased a new stake in shares of CTO Realty Growth, Inc. (NYSE:CTO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 89,286 shares of the company's stock, valued at approximately $1,724,000. Jane Street Group LLC owned approximately 0.27% of CTO Realty Growth as of its most recent SEC filing. 67.18% of the stock is owned by hedge funds and other institutional investors.

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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