Vanguard Group Inc. Boosts Stock Holdings in CTO Realty Growth, Inc. $CTO

Key Points

• Vanguard Group Inc. increased its stake in CTO Realty Growth by 13.0%, holding a total of 2,842,294 shares valued at approximately $54.89 million.
• Various institutional investors, including New York State Teachers Retirement System and Lazard Asset Management, have also recently acquired stakes in CTO Realty Growth, which is now 67.18% owned by institutional investors and hedge funds.
• CTO Realty Growth declared a quarterly dividend of $0.38 per share, equating to an annualized amount of $1.52 and a yield of 9.0%, despite a negative payout ratio.

Vanguard Group Inc. boosted its stake in CTO Realty Growth, Inc. (NYSE:CTO - Free Report) by 13.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,842,294 shares of the company's stock after acquiring an additional 327,505 shares during the period. Vanguard Group Inc. owned about 8.63% of CTO Realty Growth worth $54,885,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its position in CTO Realty Growth by 9.7% in the first quarter. PNC Financial Services Group Inc. now owns 14,156 shares of the company's stock valued at $273,000 after acquiring an additional 1,248 shares during the last quarter. LSV Asset Management lifted its position in CTO Realty Growth by 51.7% in the first 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 last quarter. Triumph Capital Management raised its holdings in shares of CTO Realty Growth by 9.7% in the first quarter. Triumph Capital Management now owns 15,628 shares of the company's stock valued at $302,000 after buying an additional 1,388 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of CTO Realty Growth in the first quarter valued at about $258,000. Finally, Prevail Innovative Wealth Advisors LLC raised its holdings in shares of CTO Realty Growth by 15.4% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 234,835 shares of the company's stock valued at $4,535,000 after buying an additional 31,294 shares during the last quarter. 67.18% of the stock is owned by hedge funds and other institutional investors.

CTO Realty Growth Price Performance

Shares of CTO stock traded up $0.04 during trading hours on Thursday, hitting $17.18. The company's stock had a trading volume of 136,897 shares, compared to its average volume of 272,710. The business has a fifty day moving average of $17.11 and a 200-day moving average of $18.05. 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, Inc. has a twelve month low of $16.12 and a twelve month high of $21.15. The company has a current ratio of 4.94, a quick ratio of 4.94 and a debt-to-equity ratio of 1.05.

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 dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $1.52 annualized dividend and a dividend yield of 8.8%. CTO Realty Growth's dividend payout ratio is presently -132.17%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Jones Trading reduced their target price on shares of CTO Realty Growth from $22.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Wall Street Zen cut shares of CTO Realty Growth from a "hold" rating to a "sell" rating in a report on Tuesday, May 13th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of CTO Realty Growth in a research note on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $22.00.

Insider Activity 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 shares were acquired at an average price 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 of the company's stock, valued at approximately $1,553,414.94. This represents a 2.23% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John P. Albright purchased 3,800 shares of the business's stock in a transaction on Thursday, June 26th. The shares were bought at an average cost of $17.05 per share, for a total transaction of $64,790.00. Following the purchase, the chief executive officer owned 628,347 shares of the company's stock, 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. Insiders have purchased 7,800 shares of company stock worth $132,960 in the last three months. Insiders own 4.00% of the company's stock.

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.