Ancora Advisors LLC Lowers Stock Position in CTO Realty Growth, Inc. $CTO

Key Points

• Ancora Advisors LLC reduced its stake in CTO Realty Growth by 22.5%, selling 73,759 shares during the first quarter to hold a total of 254,713 shares valued at approximately $4.9 million.
• Several institutional investors increased their holdings in CTO Realty Growth, with GAMMA Investing LLC boosting its stake by an impressive 2,033.9%, now owning 26,802 shares worth $518,000.
• CTO Realty Growth announced a quarterly dividend of $0.38 per share, with a notable dividend yield of 8.9%, set to be paid on September 30th to shareholders on record by September 11th.

Ancora Advisors LLC decreased its position in shares of CTO Realty Growth, Inc. (NYSE:CTO - Free Report) by 22.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 254,713 shares of the company's stock after selling 73,759 shares during the quarter. Ancora Advisors LLC owned approximately 0.77% of CTO Realty Growth worth $4,919,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CTO. Dimensional Fund Advisors LP lifted its stake in shares of CTO Realty Growth by 11.3% during the 4th 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 lifted its stake in CTO Realty Growth by 52.8% in the 4th quarter. MetLife Investment Management LLC now owns 18,177 shares of the company's stock worth $358,000 after purchasing an additional 6,284 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in CTO Realty Growth by 18.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,557 shares of the company's stock worth $524,000 after purchasing an additional 4,096 shares in the last quarter. Voya Investment Management LLC purchased a new stake in CTO Realty Growth in the 4th quarter worth $249,000. Finally, The Manufacturers Life Insurance Company lifted its stake in CTO Realty Growth by 4.7% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 67.18% of the company's stock.

Insider Transactions at CTO Realty Growth

In related news, Director George R. Brokaw bought 2,000 shares of the company's stock in a transaction on Thursday, June 26th. The shares were acquired at an average cost of $16.94 per share, for a total transaction 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John P. Albright bought 3,800 shares of the company's stock in a transaction on Thursday, June 26th. The stock was bought at an average price of $17.05 per share, for a total transaction of $64,790.00. Following the completion of the purchase, the chief executive officer directly owned 628,347 shares in the company, valued at approximately $10,713,316.35. This represents a 0.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 7,800 shares of company stock worth $132,960 over the last 90 days. Insiders own 4.00% of the company's stock.

Analysts Set New Price Targets

CTO has been the topic of several research analyst reports. Raymond James Financial reiterated a "strong-buy" rating on shares of CTO Realty Growth in a research note on Friday, May 23rd. 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. Finally, Wall Street Zen cut shares of CTO Realty Growth from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat.com, CTO Realty Growth has an average rating of "Buy" and a consensus target price of $22.00.

CTO Realty Growth Trading Down 1.5%

NYSE:CTO traded down $0.25 during mid-day trading on Monday, hitting $17.17. 219,487 shares of the stock traded hands, compared to its average volume of 298,920. The stock has a market capitalization of $565.45 million, a price-to-earnings ratio of -14.93 and a beta of 0.74. CTO Realty Growth, Inc. has a 52 week low of $16.12 and a 52 week high of $21.15. The firm's 50 day moving average is $17.06 and its two-hundred day moving average is $17.88. 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 Dividend Announcement

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

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.