Nuveen LLC Purchases New Holdings in CTO Realty Growth, Inc. $CTO

Key Points

• Nuveen LLC acquired a new stake in CTO Realty Growth, Inc., purchasing 137,025 shares valued at approximately $2.65 million, holding 0.42% of the company.
• The company announced a quarterly dividend of $0.38 per share, resulting in an annualized yield of 8.8%, set to be paid on September 30th.
• Insider transactions included CEO John P. Albright buying 3,800 shares, reflecting a 0.61% increase in his ownership position.

Nuveen LLC bought a new stake in CTO Realty Growth, Inc. (NYSE:CTO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 137,025 shares of the company's stock, valued at approximately $2,646,000. Nuveen LLC owned 0.42% of CTO Realty Growth at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in CTO Realty Growth by 13.0% in the 1st quarter. Vanguard Group Inc. now owns 2,842,294 shares of the company's stock valued at $54,885,000 after acquiring an additional 327,505 shares during the period. LSV Asset Management increased its position in CTO Realty Growth by 51.7% in the 1st quarter. LSV Asset Management now owns 578,917 shares of the company's stock valued at $11,179,000 after acquiring an additional 197,337 shares during the period. Two Sigma Advisers LP increased 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 valued at $10,046,000 after purchasing an additional 115,000 shares during the period. Invesco Ltd. raised its stake in shares of CTO Realty Growth by 7.9% in the 1st quarter. Invesco Ltd. now owns 505,387 shares of the company's stock worth $9,759,000 after buying an additional 36,831 shares in the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of CTO Realty Growth by 2.2% in 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 in the last quarter. 67.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CTO Realty Growth

In other news, Director George R. Brokaw acquired 2,000 shares of CTO Realty Growth stock in a transaction that occurred on Thursday, June 26th. The stock was purchased 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 approximately $1,553,414.94. This trade represents a 2.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John P. Albright acquired 3,800 shares of CTO Realty Growth 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 transaction, the chief executive officer owned 628,347 shares of the company's stock, valued at approximately $10,713,316.35. The trade was a 0.61% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 7,800 shares of company stock valued at $132,960. 4.00% of the stock is currently owned by insiders.

CTO Realty Growth Stock Up 0.6%

Shares of CTO Realty Growth stock traded up $0.10 during midday trading on Friday, hitting $17.29. The company's stock had a trading volume of 162,142 shares, compared to its average volume of 248,113. The firm has a market capitalization of $569.37 million, a P/E ratio of 8.82 and a beta of 0.74. The stock has a 50-day simple moving average of $17.10 and a 200-day simple moving average of $18.01. 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 1-year low of $16.12 and a 1-year high of $21.15.

CTO Realty Growth Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently commented on CTO shares. Jones Trading dropped their price objective on CTO Realty Growth from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. Wall Street Zen downgraded CTO Realty Growth from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of CTO Realty Growth in a research note on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat, CTO Realty Growth currently has an average rating of "Buy" and an average target price of $22.00.

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.