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

StockNews.com lowered shares of CTO Realty Growth (NYSE:CTO - Free Report) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

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

CTO Realty Growth Stock Performance

CTO Realty Growth stock traded up $0.14 during midday trading on Tuesday, hitting $18.43. 213,966 shares of the company were exchanged, compared to its average volume of 347,821. The firm has a market capitalization of $606.83 million, a PE ratio of -83.75 and a beta of 0.76. CTO Realty Growth has a fifty-two week low of $16.12 and a fifty-two week high of $21.15. The business has a fifty day simple moving average of $18.27 and a two-hundred day simple moving average of $19.23. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.96 and a current ratio of 3.96.

CTO Realty Growth (NYSE:CTO - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.01 by $0.48. CTO Realty Growth had a negative return on equity of 0.38% and a negative net margin of 1.58%. The company had revenue of $35.74 million for the quarter, compared to analyst estimates of $33.39 million. On average, sell-side analysts forecast that CTO Realty Growth will post 1.92 earnings per share for the current 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 dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 8.25%. CTO Realty Growth's payout ratio is -370.73%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC lifted its holdings in shares of CTO Realty Growth by 251.1% in the 3rd quarter. Barclays PLC now owns 55,911 shares of the company's stock valued at $1,063,000 after purchasing an additional 39,986 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of CTO Realty Growth by 9.8% in the 3rd quarter. Franklin Resources Inc. now owns 209,511 shares of the company's stock valued at $3,972,000 after purchasing an additional 18,743 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of CTO Realty Growth by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,683 shares of the company's stock valued at $1,211,000 after purchasing an additional 2,500 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of CTO Realty Growth by 42.4% in the 4th quarter. SG Americas Securities LLC now owns 13,202 shares of the company's stock valued at $260,000 after purchasing an additional 3,933 shares during the last quarter. Finally, EMC Capital Management lifted its holdings in shares of CTO Realty Growth by 448.8% in the 4th quarter. EMC Capital Management now owns 15,312 shares of the company's stock valued at $302,000 after purchasing an additional 12,522 shares during the last quarter. 67.18% of the stock is owned by institutional investors and hedge funds.

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.