Truvestments Capital LLC Buys 66,183 Shares of CTO Realty Growth, Inc. $CTO

Key Points

• Truvestments Capital LLC increased its stake in CTO Realty Growth, Inc. by 40.4%, holding a total of 230,045 shares after acquiring an additional 66,183 shares in the first quarter.
• Several institutional investors, including Worth Venture Partners LLC and APG Asset Management US Inc., have also raised their shareholdings in CTO Realty Growth during the same period.
• CTO Realty Growth recently announced a quarterly dividend of $0.38 per share, with an upcoming payment date on September 30th, reflecting a dividend yield of 8.9%.

Truvestments Capital LLC boosted its stake in CTO Realty Growth, Inc. (NYSE:CTO - Free Report) by 40.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 230,045 shares of the company's stock after purchasing an additional 66,183 shares during the period. CTO Realty Growth makes up approximately 1.0% of Truvestments Capital LLC's holdings, making the stock its 26th largest position. Truvestments Capital LLC owned about 0.70% of CTO Realty Growth worth $4,442,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Worth Venture Partners LLC bought a new stake in CTO Realty Growth in the 1st quarter worth approximately $518,000. Jump Financial LLC grew its position in CTO Realty Growth by 84.4% in the 1st quarter. Jump Financial LLC now owns 50,554 shares of the company's stock worth $976,000 after purchasing an additional 23,139 shares during the period. APG Asset Management US Inc. grew its position in CTO Realty Growth by 39.5% in the 1st quarter. APG Asset Management US Inc. now owns 460,001 shares of the company's stock worth $8,906,000 after purchasing an additional 130,238 shares during the period. Cutler Capital Management LLC grew its position in CTO Realty Growth by 6.7% in the 1st quarter. Cutler Capital Management LLC now owns 191,892 shares of the company's stock worth $3,705,000 after purchasing an additional 12,126 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its position in CTO Realty Growth by 17.5% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 235,068 shares of the company's stock worth $4,539,000 after purchasing an additional 35,000 shares during the period. Institutional investors own 67.18% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on CTO. Wall Street Zen downgraded shares of 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 report on Friday, May 23rd. Finally, Jones Trading cut their price objective on shares of 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 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, the stock presently has an average rating of "Buy" and an average price target of $22.00.

CTO Realty Growth Trading Up 0.7%

Shares of CTO stock opened at $17.00 on Wednesday. CTO Realty Growth, Inc. has a 1 year low of $16.12 and a 1 year high of $21.15. The firm has a fifty day moving average price of $17.15 and a 200-day moving average price of $18.07. 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 company has a market cap of $559.85 million, a price-to-earnings ratio of -14.78 and a beta of 0.74.

CTO Realty Growth Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Thursday, September 11th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.9%. CTO Realty Growth's payout ratio is presently -132.17%.

Insiders Place Their Bets

In other news, Director George R. Brokaw bought 2,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was bought at an average price of $16.94 per share, with a total value of $33,880.00. Following the acquisition, the director owned 91,701 shares of the company's stock, valued at approximately $1,553,414.94. This represents a 2.23% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John P. Albright bought 3,800 shares of the company's 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 acquisition, the chief executive officer directly 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 three months, insiders have bought 7,800 shares of company stock valued at $132,960. Insiders own 4.00% of the company's stock.

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.

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