Strs Ohio Acquires New Shares in CTO Realty Growth, Inc. $CTO

Key Points

• Strs Ohio made a new investment of $2.86 million in CTO Realty Growth, acquiring approximately 148,100 shares, which reflects a stake of about 0.45% in the company.
• CTO Realty Growth announced a quarterly dividend of $0.38 expected to be paid on September 30th, showcasing an annualized yield of 9.2%.
• Recent analyst reports indicate a mixed outlook, with price objectives ranging from $21.00 to $22.00 and the stock receiving ratings of "buy" to "strong-buy."

Strs Ohio purchased a new position in shares of CTO Realty Growth, Inc. (NYSE:CTO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 148,100 shares of the company's stock, valued at approximately $2,860,000. Strs Ohio owned 0.45% of CTO Realty Growth at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CTO. Northern Trust Corp increased its holdings in CTO Realty Growth by 29.1% during the 4th quarter. Northern Trust Corp now owns 275,156 shares of the company's stock worth $5,423,000 after purchasing an additional 61,987 shares during the period. Deutsche Bank AG increased its holdings in CTO Realty Growth by 2.9% during the 4th quarter. Deutsche Bank AG now owns 75,075 shares of the company's stock worth $1,480,000 after purchasing an additional 2,142 shares during the period. Lazard Asset Management LLC purchased a new stake in CTO Realty Growth during the 4th quarter worth about $179,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in CTO Realty Growth by 34.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,363 shares of the company's stock worth $323,000 after purchasing an additional 4,227 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in CTO Realty Growth by 45.0% during the 4th quarter. Nuveen Asset Management LLC now owns 330,253 shares of the company's stock worth $6,509,000 after purchasing an additional 102,414 shares during the period. Hedge funds and other institutional investors own 67.18% of the company's stock.

Insider Activity at CTO Realty Growth

In other CTO Realty Growth news, Director George R. Brokaw purchased 2,000 shares of CTO Realty Growth stock in a transaction dated Thursday, June 26th. The stock was acquired at an average cost of $16.94 per share, with a total value of $33,880.00. Following the acquisition, the director directly owned 91,701 shares of the company's stock, valued at $1,553,414.94. This represents 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 through the SEC website. Also, CEO John P. Albright purchased 2,000 shares of CTO Realty Growth stock in a transaction dated Thursday, September 11th. The stock was acquired at an average cost of $16.38 per share, with a total value of $32,760.00. Following the completion of the acquisition, the chief executive officer directly owned 634,547 shares in the company, valued at approximately $10,393,879.86. This trade represents a 0.32% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 16,750 shares of company stock valued at $280,699 over the last three months. Insiders own 4.00% of the company's stock.

Analyst Ratings Changes

CTO has been the topic of a number of recent analyst reports. Raymond James Financial reiterated a "strong-buy" rating on shares of CTO Realty Growth in a report on Friday, May 23rd. 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 report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat.com, CTO Realty Growth has an average rating of "Buy" and an average price target of $22.00.

CTO Realty Growth Stock Performance

CTO Realty Growth stock traded up $0.09 during mid-day trading on Thursday, reaching $16.46. 216,265 shares of the company were exchanged, compared to its average volume of 300,839. CTO Realty Growth, Inc. has a twelve month low of $16.12 and a twelve month high of $20.88. The firm's 50-day simple moving average is $16.94 and its two-hundred day simple moving average is $17.78. The company has a debt-to-equity ratio of 1.05, a quick ratio of 4.94 and a current ratio of 4.94. The firm has a market cap of $542.19 million, a PE ratio of -14.31 and a beta of 0.74.

CTO Realty Growth Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Thursday, September 11th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 9.2%. The ex-dividend date of this dividend is Thursday, September 11th. CTO Realty Growth's dividend payout ratio (DPR) 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.