Franklin Resources Inc. Cuts Stake in CTO Realty Growth, Inc. (NYSE:CTO)

Franklin Resources Inc. lessened its holdings in CTO Realty Growth, Inc. (NYSE:CTO - Free Report) by 54.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,529 shares of the company's stock after selling 114,982 shares during the period. Franklin Resources Inc. owned about 0.32% of CTO Realty Growth worth $1,863,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. grew its position in shares of CTO Realty Growth by 32.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,666 shares of the company's stock valued at $171,000 after purchasing an additional 2,118 shares during the period. Cornerstone Investment Partners LLC purchased a new position in CTO Realty Growth in the 4th quarter valued at about $201,000. Sanctuary Advisors LLC acquired a new stake in CTO Realty Growth in the 3rd quarter worth about $205,000. Longboard Asset Management LP purchased a new stake in CTO Realty Growth during the 4th quarter worth approximately $212,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of CTO Realty Growth during the fourth quarter valued at approximately $240,000. Institutional investors and hedge funds own 67.18% of the company's stock.

Analyst Ratings Changes

CTO has been the subject of a number of recent research reports. StockNews.com downgraded CTO Realty Growth from a "hold" rating to a "sell" rating in a research note on Saturday, March 1st. B. Riley reaffirmed a "buy" rating and set a $23.00 target price (up from $22.50) on shares of CTO Realty Growth in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $22.00.

CTO Realty Growth Trading Up 0.7 %

NYSE CTO traded up $0.13 during trading hours on Friday, reaching $18.12. The company had a trading volume of 195,819 shares, compared to its average volume of 338,733. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $577.00 million, a P/E ratio of -82.36 and a beta of 0.61. The stock has a 50-day moving average of $18.82 and a 200 day moving average of $19.38. CTO Realty Growth, Inc. has a 1-year low of $16.12 and a 1-year high of $21.15.

CTO Realty Growth (NYSE:CTO - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.48. The firm had revenue of $35.74 million during the quarter, compared to analysts' expectations of $33.39 million. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. As a group, research analysts anticipate that CTO Realty Growth, Inc. will post 1.92 earnings per share for the current fiscal year.

CTO Realty Growth Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 13th were issued a $0.38 dividend. The ex-dividend date was Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 8.39%. CTO Realty Growth's dividend payout ratio is presently -690.91%.

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.