Geode Capital Management LLC Increases Stock Holdings in CTO Realty Growth, Inc. (NYSE:CTO)

Geode Capital Management LLC increased its stake in CTO Realty Growth, Inc. (NYSE:CTO - Free Report) by 30.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 679,893 shares of the company's stock after acquiring an additional 160,593 shares during the quarter. Geode Capital Management LLC owned approximately 2.27% of CTO Realty Growth worth $13,403,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. raised its stake in CTO Realty Growth by 32.3% in the 4th 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 last quarter. Cornerstone Investment Partners LLC purchased a new stake in shares of CTO Realty Growth during the fourth quarter worth $201,000. Sanctuary Advisors LLC acquired a new stake in shares of CTO Realty Growth in the third quarter valued at about $205,000. Longboard Asset Management LP purchased a new position in shares of CTO Realty Growth in the fourth quarter worth about $212,000. Finally, Proficio Capital Partners LLC acquired a new position in CTO Realty Growth during the fourth quarter worth about $240,000. 67.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. StockNews.com downgraded shares of CTO Realty Growth from a "hold" rating to a "sell" rating in a report on Saturday, March 1st. B. Riley reaffirmed a "buy" rating and issued a $23.00 price target (up previously from $22.50) on shares of CTO Realty Growth in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $22.00.

CTO Realty Growth Trading Down 0.1 %

Shares of CTO stock traded down $0.02 during trading on Friday, hitting $17.97. 175,995 shares of the stock traded hands, compared to its average volume of 340,381. CTO Realty Growth, Inc. has a 52-week low of $16.12 and a 52-week high of $21.15. The firm has a market capitalization of $572.35 million, a P/E ratio of -81.70 and a beta of 0.61. The firm's fifty day moving average price is $18.59 and its 200-day moving average price is $19.36. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.96 and a quick ratio of 3.96.

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

CTO Realty Growth Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 13th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.46%. The ex-dividend date was Thursday, March 13th. 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.