Invesco Ltd. increased its holdings in shares of CTO Realty Growth, Inc. (NYSE:CTO - Free Report) by 681.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 468,556 shares of the company's stock after purchasing an additional 408,632 shares during the quarter. Invesco Ltd. owned 1.56% of CTO Realty Growth worth $9,235,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CTO. Vanguard Group Inc. grew its position in CTO Realty Growth by 118.6% in the fourth quarter. Vanguard Group Inc. now owns 2,514,789 shares of the company's stock valued at $49,566,000 after acquiring an additional 1,364,637 shares in the last quarter. Thrivent Financial for Lutherans acquired a new stake in CTO Realty Growth in the fourth quarter valued at approximately $4,673,000. Charles Schwab Investment Management Inc. grew its position in CTO Realty Growth by 143.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 392,102 shares of the company's stock valued at $7,728,000 after acquiring an additional 230,811 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in CTO Realty Growth in the fourth quarter valued at approximately $3,787,000. Finally, Geode Capital Management LLC grew its position in CTO Realty Growth by 30.9% in the fourth quarter. Geode Capital Management LLC now owns 679,893 shares of the company's stock valued at $13,403,000 after acquiring an additional 160,593 shares in the last quarter. Institutional investors and hedge funds own 67.18% of the company's stock.
CTO Realty Growth Stock Performance
CTO traded down $0.10 during trading hours on Tuesday, hitting $18.13. 26,819 shares of the stock were exchanged, compared to its average volume of 339,691. The stock has a 50-day simple moving average of $18.55 and a 200-day simple moving average of $19.36. CTO Realty Growth, Inc. has a 12 month low of $16.12 and a 12 month high of $21.15. The stock has a market cap of $577.15 million, a price-to-earnings ratio of -82.34 and a beta of 0.61. 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 posted its earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.48. The company had revenue of $35.74 million for the quarter, compared to analysts' expectations of $33.39 million. CTO Realty Growth had a negative return on equity of 0.38% and a negative net margin of 1.58%. Analysts anticipate that CTO Realty Growth, Inc. will post 1.92 earnings per share for the current year.
CTO Realty Growth Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 13th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.39%. The ex-dividend date of this dividend was Thursday, March 13th. CTO Realty Growth's payout ratio is -690.91%.
Analysts Set New Price Targets
Several equities analysts have recently commented on the company. B. Riley reiterated 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. StockNews.com cut CTO Realty Growth from a "hold" rating to a "sell" rating in a research note on Saturday, March 1st. One equities research analyst has rated the stock with a sell rating, two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $22.00.
Check Out Our Latest Analysis on CTO Realty Growth
About CTO Realty Growth
(
Free Report)
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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