CTO Realty Growth, Inc. $CTO Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in CTO Realty Growth, Inc. by 14.5% during the first quarter, owning 536,686 shares valued at approximately $10.36 million.
• Insider transactions included CTO's CEO purchasing 3,800 shares for $64,790, while a director bought 2,000 shares worth $33,880, indicating management's confidence in the company.
• CTO Realty Growth recently declared a quarterly dividend of $0.38, resulting in an annualized dividend yield of 9.3%.

Russell Investments Group Ltd. grew its stake in CTO Realty Growth, Inc. (NYSE:CTO - Free Report) by 14.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 536,686 shares of the company's stock after purchasing an additional 67,846 shares during the period. Russell Investments Group Ltd. owned about 1.63% of CTO Realty Growth worth $10,366,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Summit Investment Advisors Inc. lifted its position in shares of CTO Realty Growth by 39.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,020 shares of the company's stock valued at $60,000 after buying an additional 852 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of CTO Realty Growth by 5.7% during the 1st quarter. Principal Financial Group Inc. now owns 15,998 shares of the company's stock valued at $309,000 after buying an additional 859 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of CTO Realty Growth by 4.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 22,290 shares of the company's stock valued at $439,000 after buying an additional 993 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its position in shares of CTO Realty Growth by 9.7% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 11,435 shares of the company's stock valued at $221,000 after buying an additional 1,011 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its position in shares of CTO Realty Growth by 5.1% during the 4th quarter. Guggenheim Capital LLC now owns 24,087 shares of the company's stock valued at $475,000 after buying an additional 1,172 shares in the last quarter. Hedge funds and other institutional investors own 67.18% of the company's stock.

Insider Buying and Selling at CTO Realty Growth

In other news, CEO John P. Albright acquired 3,800 shares of CTO Realty Growth stock in a transaction that occurred on Thursday, June 26th. The stock was purchased at an average cost of $17.05 per share, with a total value of $64,790.00. Following the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 cost of $16.94 per share, with a total value of $33,880.00. Following the completion of the purchase, the director owned 91,701 shares in the company, valued at $1,553,414.94. The trade was a 2.23% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 7,800 shares of company stock valued at $132,960. 4.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen lowered CTO Realty Growth from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th. Jones Trading decreased their target price on 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, Raymond James Financial reiterated a "strong-buy" rating on shares of CTO Realty Growth in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, CTO Realty Growth currently has an average rating of "Buy" and an average target price of $22.00.

CTO Realty Growth Price Performance

NYSE CTO traded up $0.2840 during mid-day trading on Friday, hitting $16.9140. The stock had a trading volume of 245,498 shares, compared to its average volume of 303,526. The firm's 50 day moving average is $17.19 and its 200 day moving average is $18.10. CTO Realty Growth, Inc. has a twelve month low of $16.12 and a twelve month high of $21.15. 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 stock has a market capitalization of $557.15 million, a price-to-earnings ratio of -14.71 and a beta of 0.74.

CTO Realty Growth Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, September 11th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 9.0%. The ex-dividend date of this dividend 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.