AlphaQuest LLC Has $76,000 Position in CTO Realty Growth, Inc. $CTO

Key Points

• AlphaQuest LLC has significantly reduced its position in CTO Realty Growth, Inc. by 86.9%, now holding only 3,956 shares after selling 26,229 shares in the first quarter.
• Insider activity has seen Director George R. Brokaw and CEO John P. Albright purchase shares, increasing their holdings despite market fluctuations.
• CTO Realty Growth announced a quarterly dividend of $0.38, translating to an annualized yield of 8.9%, with the ex-dividend date set for September 11th.

AlphaQuest LLC decreased its stake in CTO Realty Growth, Inc. (NYSE:CTO - Free Report) by 86.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,956 shares of the company's stock after selling 26,229 shares during the period. AlphaQuest LLC's holdings in CTO Realty Growth were worth $76,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of CTO Realty Growth by 11.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 340,004 shares of the company's stock valued at $6,701,000 after buying an additional 34,446 shares in the last quarter. MetLife Investment Management LLC increased its stake in CTO Realty Growth by 52.8% in the fourth quarter. MetLife Investment Management LLC now owns 18,177 shares of the company's stock valued at $358,000 after acquiring an additional 6,284 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of CTO Realty Growth by 18.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,557 shares of the company's stock worth $524,000 after buying an additional 4,096 shares during the last quarter. Voya Investment Management LLC bought a new stake in shares of CTO Realty Growth during the fourth quarter worth $249,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of CTO Realty Growth by 4.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 22,290 shares of the company's stock worth $439,000 after purchasing an additional 993 shares during the last quarter. 67.18% of the stock is currently owned by institutional investors and hedge funds.

CTO Realty Growth Stock Down 1.5%

Shares of NYSE:CTO traded down $0.26 during trading hours on Monday, hitting $17.16. The company's stock had a trading volume of 122,170 shares, compared to its average volume of 298,310. CTO Realty Growth, Inc. has a 52 week low of $16.12 and a 52 week high of $21.15. The firm's fifty day moving average price is $17.06 and its 200 day moving average price is $17.88. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.94 and a quick ratio of 4.94. The company has a market capitalization of $565.25 million, a price-to-earnings ratio of -14.92 and a beta of 0.74.

CTO Realty Growth Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Thursday, September 11th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 8.9%. The ex-dividend date of this dividend is Thursday, September 11th. CTO Realty Growth's payout ratio is currently -132.17%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

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

About CTO Realty Growth

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.