LSV Asset Management Acquires 197,337 Shares of CTO Realty Growth, Inc. (NYSE:CTO)

Key Points

• LSV Asset Management has increased its stake in CTO Realty Growth by 51.7%, owning approximately 1.76% of the company, valued at about $11.18 million.
• CTO Realty Growth's stock has experienced a 1.1% decline recently, currently trading at $16.47, with a 52-week range of $16.12 to $21.15.
• The company announced a quarterly dividend of $0.38 per share, yielding 9.2%, although it has a payout ratio of -132.17%.

LSV Asset Management increased its position in shares of CTO Realty Growth, Inc. (NYSE:CTO - Free Report) by 51.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 578,917 shares of the company's stock after buying an additional 197,337 shares during the period. LSV Asset Management owned about 1.76% of CTO Realty Growth worth $11,179,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Triumph Capital Management increased its position in shares of CTO Realty Growth by 9.7% in the 1st quarter. Triumph Capital Management now owns 15,628 shares of the company's stock worth $302,000 after purchasing an additional 1,388 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of CTO Realty Growth in the 1st quarter worth about $258,000. Prevail Innovative Wealth Advisors LLC increased its position in shares of CTO Realty Growth by 15.4% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 234,835 shares of the company's stock worth $4,535,000 after purchasing an additional 31,294 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of CTO Realty Growth by 11.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 137,517 shares of the company's stock worth $2,655,000 after purchasing an additional 14,160 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in shares of CTO Realty Growth by 20.9% in the 1st quarter. Penserra Capital Management LLC now owns 56,436 shares of the company's stock worth $1,089,000 after purchasing an additional 9,741 shares during the last quarter. Hedge funds and other institutional investors own 67.18% of the company's stock.

CTO Realty Growth Stock Up 0.3%

CTO Realty Growth stock traded up $0.05 during trading hours on Thursday, hitting $16.40. The company had a trading volume of 275,168 shares, compared to its average volume of 308,943. The firm has a market capitalization of $540.22 million, a P/E ratio of -14.26 and a beta of 0.74. 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 firm's fifty day moving average is $17.66 and its 200-day moving average is $18.39. CTO Realty Growth, Inc. has a fifty-two week low of $16.12 and a fifty-two week high of $21.15.

CTO Realty Growth Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 9.3%. CTO Realty Growth's dividend payout ratio is -132.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CTO shares. 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 lowered shares of CTO Realty Growth from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th. Finally, Jones Trading reduced their price target on shares of CTO Realty Growth from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th.

Insider Buying and Selling at CTO Realty Growth

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