Invesco Ltd. Raises Holdings in CTO Realty Growth, Inc. $CTO

Key Points

• Invesco Ltd. increased its stake in CTO Realty Growth, owning 505,387 shares worth approximately $9.76 million as of the end of the first quarter.
• Multiple institutional investors have also adjusted their positions, with Vanguard Group Inc. and Leeward Investments LLC significantly increasing their stakes in the company.
• CTO Realty Growth announced a quarterly dividend of $0.38 to be paid on September 30th, resulting in an annualized yield of 9.0%.

Invesco Ltd. lifted its stake in shares of CTO Realty Growth, Inc. (NYSE:CTO - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 505,387 shares of the company's stock after buying an additional 36,831 shares during the quarter. Invesco Ltd. owned about 1.53% of CTO Realty Growth worth $9,759,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Wells Fargo & Company MN lifted its stake in CTO Realty Growth by 20.2% during the 4th quarter. Wells Fargo & Company MN now owns 94,011 shares of the company's stock valued at $1,853,000 after acquiring an additional 15,788 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of CTO Realty Growth during the 4th quarter worth $3,787,000. Barclays PLC raised its stake in CTO Realty Growth by 10.9% in the 4th quarter. Barclays PLC now owns 62,032 shares of the company's stock valued at $1,223,000 after acquiring an additional 6,121 shares during the period. XTX Topco Ltd bought a new stake in CTO Realty Growth in the 4th quarter valued at about $205,000. Finally, Guggenheim Capital LLC raised its stake in CTO Realty Growth by 5.1% in the 4th quarter. Guggenheim Capital LLC now owns 24,087 shares of the company's stock valued at $475,000 after acquiring an additional 1,172 shares during the period. Institutional investors and hedge funds own 67.18% of the company's stock.

Insider Buying and Selling

In related news, Director George R. Brokaw bought 2,000 shares of the company's stock in a transaction dated Thursday, June 26th. The stock was purchased at an average price of $16.94 per share, for a total transaction of $33,880.00. Following the acquisition, the director owned 91,701 shares in the company, valued at $1,553,414.94. This trade represents a 2.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John P. Albright acquired 3,800 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were acquired at an average price of $17.05 per share, with a total value of $64,790.00. Following 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 ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 7,800 shares of company stock valued at $132,960. Company insiders own 4.00% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CTO. Wall Street Zen cut CTO Realty Growth from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of CTO Realty Growth in a research note on Friday, May 23rd. Finally, Jones Trading lowered their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, CTO Realty Growth has a consensus rating of "Buy" and an average price target of $22.00.

CTO Realty Growth Stock Performance

NYSE:CTO traded up $0.04 on Thursday, hitting $17.18. The stock had a trading volume of 136,897 shares, compared to its average volume of 302,695. The business's 50-day simple moving average is $17.13 and its two-hundred day simple moving average is $18.07. 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. The stock has a market cap of $565.91 million, a price-to-earnings ratio of -14.94 and a beta of 0.74.

CTO Realty Growth Announces Dividend

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

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.