Charles Schwab Investment Management Inc. Has $6.55 Million Stock Holdings in CTO Realty Growth, Inc. $CTO

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in CTO Realty Growth by 13.5%, selling 52,950 shares in the first quarter, now owning 339,152 shares valued at approximately $6.54 million.
• CTO Realty Growth is set to pay a quarterly dividend of $0.38 per share on September 30, representing an annualized yield of 8.9%.
• Analysts have mixed ratings for CTO Realty Growth, with a consensus rating of "Buy" and an average price target of $22.00, despite some firms lowering their price objectives.

Charles Schwab Investment Management Inc. reduced its stake in shares of CTO Realty Growth, Inc. (NYSE:CTO - Free Report) by 13.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 339,152 shares of the company's stock after selling 52,950 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.03% of CTO Realty Growth worth $6,549,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of CTO Realty Growth by 13.0% during the 1st quarter. Vanguard Group Inc. now owns 2,842,294 shares of the company's stock worth $54,885,000 after buying an additional 327,505 shares during the period. LSV Asset Management grew its position in shares of CTO Realty Growth by 51.7% during the 1st quarter. LSV Asset Management now owns 578,917 shares of the company's stock worth $11,179,000 after buying an additional 197,337 shares during the period. Two Sigma Advisers LP grew its position in shares of CTO Realty Growth by 29.1% during the 4th quarter. Two Sigma Advisers LP now owns 509,701 shares of the company's stock worth $10,046,000 after buying an additional 115,000 shares during the period. Two Sigma Investments LP grew its position in shares of CTO Realty Growth by 2.2% during the 4th quarter. Two Sigma Investments LP now owns 455,146 shares of the company's stock worth $8,971,000 after buying an additional 9,709 shares during the period. Finally, Leeward Investments LLC MA grew its position in shares of CTO Realty Growth by 356.0% during the 1st quarter. Leeward Investments LLC MA now owns 394,793 shares of the company's stock worth $7,623,000 after buying an additional 308,213 shares during the period. 67.18% of the stock is currently owned by institutional investors and hedge funds.

CTO Realty Growth Price Performance

Shares of NYSE:CTO traded up $0.10 during trading on Monday, reaching $17.29. 162,142 shares of the company traded hands, compared to its average volume of 248,113. The company's 50 day moving average is $17.08 and its two-hundred day moving average is $17.97. The firm has a market capitalization of $569.37 million, a PE ratio of -15.03 and a beta of 0.74. The company has a quick ratio of 4.94, a current ratio of 4.94 and a debt-to-equity ratio of 1.05. CTO Realty Growth, Inc. has a 52 week low of $16.12 and a 52 week high of $21.15.

CTO Realty Growth Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, September 11th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.8%. The ex-dividend date is Thursday, September 11th. CTO Realty Growth's dividend payout ratio is currently -132.17%.

Analyst Upgrades and Downgrades

CTO has been the subject of several analyst reports. Jones Trading decreased their target price on CTO Realty Growth from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Raymond James Financial restated a "strong-buy" rating on shares of CTO Realty Growth in a research report on Friday, May 23rd. Finally, Wall Street Zen lowered CTO Realty Growth from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $22.00.

Insider Buying and Selling at CTO Realty Growth

In other CTO Realty Growth news, CEO John P. Albright acquired 3,800 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was acquired at an average cost of $17.05 per share, for a total transaction of $64,790.00. Following the transaction, the chief executive officer directly owned 628,347 shares in the company, valued at $10,713,316.35. This represents a 0.61% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director George R. Brokaw acquired 2,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were acquired at an average price of $16.94 per share, with a total value of $33,880.00. Following the completion of the transaction, the director owned 91,701 shares in the company, valued at $1,553,414.94. The trade was a 2.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 7,800 shares of company stock valued at $132,960. 4.00% of the stock is owned by corporate insiders.

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.