CTO Realty Growth (NYSE:CTO) Shares Gap Down - Time to Sell?

CTO Realty Growth, Inc. (NYSE:CTO - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $18.08, but opened at $17.29. CTO Realty Growth shares last traded at $17.49, with a volume of 237,693 shares.

Analysts Set New Price Targets

A number of analysts recently issued reports on CTO shares. B. Riley reaffirmed a "buy" rating and issued a $23.00 target price (up previously from $22.50) on shares of CTO Realty Growth in a research report on Wednesday, March 5th. Wall Street Zen lowered CTO Realty Growth from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of CTO Realty Growth in a research report on Friday, May 23rd.

CTO Realty Growth Price Performance

The stock has a market cap of $570.69 million, a price-to-earnings ratio of -42.26 and a beta of 0.75. The company has a 50-day simple moving average of $18.12 and a two-hundred day simple moving average of $18.85. The company has a debt-to-equity ratio of 1.01, a quick ratio of 5.54 and a current ratio of 5.54.

CTO Realty Growth Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.77%. The ex-dividend date is Thursday, June 12th. CTO Realty Growth's dividend payout ratio (DPR) is -370.73%.

Insiders Place Their Bets

In related news, Director George R. Brokaw acquired 2,000 shares of the firm's stock in a transaction on Thursday, June 26th. The shares were purchased at an average cost of $16.94 per share, for a total transaction of $33,880.00. Following the completion of the acquisition, the director now directly owns 91,701 shares in the company, valued at approximately $1,553,414.94. This trade represents a 2.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John P. Albright bought 3,800 shares of the business's stock in a transaction dated Thursday, June 26th. The shares were bought at an average price of $17.05 per share, with a total value of $64,790.00. Following the purchase, the chief executive officer now owns 628,347 shares in the company, valued at $10,713,316.35. The trade was 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 90 days. 4.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CTO Realty Growth

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of CTO Realty Growth by 2,033.9% during the first quarter. GAMMA Investing LLC now owns 26,802 shares of the company's stock worth $518,000 after purchasing an additional 25,546 shares during the period. The Manufacturers Life Insurance Company grew its holdings in CTO Realty Growth by 4.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 22,290 shares of the company's stock valued at $439,000 after buying an additional 993 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of CTO Realty Growth by 13.7% during the fourth quarter. Principal Financial Group Inc. now owns 15,139 shares of the company's stock worth $298,000 after buying an additional 1,821 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of CTO Realty Growth during the fourth quarter worth $3,787,000. Finally, Deutsche Bank AG boosted its position in shares of CTO Realty Growth by 2.9% in the fourth quarter. Deutsche Bank AG now owns 75,075 shares of the company's stock valued at $1,480,000 after acquiring an additional 2,142 shares during the period. Institutional investors own 67.18% of the company's stock.

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.