112,860 Shares of CTO Realty Growth, Inc. $CTO Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 112,860 shares of CTO Realty Growth during the second quarter, valued at approximately $2.43 million and representing 0.30% of the company.
• Institutional investors own 67.18% of CTO Realty Growth, while analysts maintain a consensus “Buy” rating with an average price target of $24.50.
• CTO reported quarterly EPS of $0.38, exceeding estimates of $0.10, and pays a quarterly dividend of $0.38 per share, equivalent to a 7.4% annualized yield.

Bank of America Corp DE bought a new stake in CTO Realty Growth, Inc. (NYSE:CTO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 112,860 shares of the company's stock, valued at approximately $2,428,000. Bank of America Corp DE owned 0.30% of CTO Realty Growth as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CTO. Clearstead Advisors LLC raised its position in shares of CTO Realty Growth by 231.9% during the 4th quarter. Clearstead Advisors LLC now owns 1,789 shares of the company's stock worth $33,000 after purchasing an additional 1,250 shares during the period. Legal & General Group Plc acquired a new position in CTO Realty Growth during the 2nd quarter valued at approximately $70,000. Virtus Advisers LLC acquired a new position in CTO Realty Growth during the 2nd quarter valued at approximately $120,000. Globeflex Capital L P acquired a new stake in CTO Realty Growth in the second quarter worth $212,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in CTO Realty Growth in the first quarter worth $192,000. 67.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CTO has been the subject of several recent research reports. Alliance Global Partners restated a "buy" rating on shares of CTO Realty Growth in a research report on Wednesday, July 29th. Raymond James Financial reissued a "strong-buy" rating and set a $25.00 target price on shares of CTO Realty Growth in a research note on Monday, June 29th. Cantor Fitzgerald upped their target price on shares of CTO Realty Growth from $23.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, August 3rd. JonesTrading lifted their price target on CTO Realty Growth from $23.00 to $24.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Finally, Weiss Ratings downgraded CTO Realty Growth from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $24.50.

CTO Realty Growth Price Performance

Shares of NYSE:CTO opened at $20.51 on Thursday. CTO Realty Growth, Inc. has a 12 month low of $15.06 and a 12 month high of $22.71. The stock has a market cap of $768.84 million, a price-to-earnings ratio of 15.08 and a beta of 0.60. The stock's 50 day moving average price is $21.40 and its 200 day moving average price is $20.66. The company has a debt-to-equity ratio of 0.99, a current ratio of 8.69 and a quick ratio of 8.69.

CTO Realty Growth (NYSE:CTO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.28. CTO Realty Growth had a return on equity of 8.90% and a net margin of 32.63%.The firm had revenue of $43.83 million during the quarter, compared to analyst estimates of $42.31 million. CTO Realty Growth has set its FY 2026 guidance at 2.210-2.250 EPS. Equities research analysts anticipate that CTO Realty Growth, Inc. will post 2.12 earnings per share for the current fiscal year.

CTO Realty Growth Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 10th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend was Thursday, September 10th. CTO Realty Growth's payout ratio is presently 111.76%.

CTO Realty Growth Profile

CTO Realty Growth, Inc NYSE: CTO is a self-managed real estate investment trust that owns and operates a portfolio of income-producing commercial properties in the United States. The company primarily focuses on retail and mixed-use properties, including open-air shopping centers and other assets leased to national, regional and local tenants.

CTO Realty Growth generally targets properties in high-growth markets with favorable demographic characteristics. Its portfolio is designed to provide exposure to necessity-based and service-oriented retail, along with selected commercial real estate investments.

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