CTO Realty Growth (NYSE:CTO) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of CTO Realty Growth (NYSE:CTO - Free Report) from a hold rating to a sell rating in a report released on Tuesday.

Separately, B. Riley reissued a "buy" rating and issued a $23.00 target price (up previously from $22.50) on shares of CTO Realty Growth in a report on Wednesday, March 5th.

CTO Realty Growth Price Performance

Shares of NYSE:CTO traded up $0.14 on Tuesday, reaching $18.43. 213,966 shares of the company were exchanged, compared to its average volume of 345,856. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 0.88. CTO Realty Growth has a 1-year low of $16.12 and a 1-year high of $21.15. The company has a 50-day moving average of $18.28 and a 200-day moving average of $19.24. The firm has a market cap of $606.83 million, a price-to-earnings ratio of -83.75 and a beta of 0.76.

CTO Realty Growth (NYSE:CTO - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.48. The company had revenue of $35.74 million during the quarter, compared to analysts' expectations of $33.39 million. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. Equities analysts forecast that CTO Realty Growth will post 1.92 earnings per share for the current fiscal year.

CTO Realty Growth Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 13th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.25%. The ex-dividend date of this dividend was Thursday, March 13th. CTO Realty Growth's payout ratio is currently -370.73%.

Institutional Investors Weigh In On CTO Realty Growth

Hedge funds and other institutional investors have recently modified their holdings of the company. New York State Teachers Retirement System purchased a new position in shares of CTO Realty Growth during the 1st quarter worth about $51,000. Summit Investment Advisors Inc. raised its stake in CTO Realty Growth by 39.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,020 shares of the company's stock worth $60,000 after purchasing an additional 852 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of CTO Realty Growth by 300.0% in the 4th quarter. NewEdge Advisors LLC now owns 4,000 shares of the company's stock valued at $79,000 after purchasing an additional 3,000 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of CTO Realty Growth by 32.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 8,666 shares of the company's stock valued at $171,000 after buying an additional 2,118 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in shares of CTO Realty Growth during the 4th quarter valued at $179,000. 67.18% of the stock is currently owned by hedge funds and other institutional investors.

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.