CTO Realty Growth, Inc. (NYSE:CTO - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $20.24 and traded as high as $20.60. CTO Realty Growth shares last traded at $20.4640, with a volume of 380,114 shares changing hands.
Wall Street Analyst Weigh In
A number of analysts recently commented on CTO shares. Huntington initiated coverage on CTO Realty Growth in a research note on Tuesday, October 27th. They issued a "strong-buy" rating for the company. JonesTrading reissued a "buy" rating and set a $24.00 price objective on shares of CTO Realty Growth in a research report on Thursday, October 1st. Weiss Ratings downgraded shares of CTO Realty Growth from a "buy (b-)" rating to a "hold (c)" rating in a research report on Wednesday, October 28th. Zacks Research lowered shares of CTO Realty Growth from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Finally, Wall Street Zen cut shares of CTO Realty Growth from a "hold" rating to a "sell" rating in a research report on Saturday, October 31st. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $24.50.
Check Out Our Latest Report on CTO
CTO Realty Growth Stock Up 2.4%
The stock's 50 day simple moving average is $20.55 and its two-hundred day simple moving average is $20.24. The firm has a market cap of $793.18 million, a P/E ratio of 17.95 and a beta of 0.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.06 and a quick ratio of 6.06.
CTO Realty Growth (NYSE:CTO - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.39). CTO Realty Growth had a net margin of 26.12% and a return on equity of 7.15%. The company had revenue of $46.91 million for the quarter, compared to analysts' expectations of $45.21 million. As a group, research analysts forecast that CTO Realty Growth, Inc. will post 2.11 earnings per share for the current year.
CTO Realty Growth Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 10th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date was Thursday, September 10th. CTO Realty Growth's payout ratio is presently 133.33%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of CTO Realty Growth in the second quarter worth about $77,576,000. Miller Value Partners LLC purchased a new position in CTO Realty Growth during the second quarter valued at $11,613,000. Man Group plc bought a new stake in CTO Realty Growth in the 2nd quarter valued at $8,160,000. Bank of New York Mellon Corp bought a new stake in CTO Realty Growth in the 2nd quarter valued at $3,691,000. Finally, Bank of America Corp DE bought a new stake in CTO Realty Growth in the 2nd quarter valued at $2,428,000. 67.18% of the stock is owned by institutional investors.
About CTO Realty Growth
(
Get Free Report)
CTO Realty Growth, Inc is an internally managed real estate investment trust (REIT) that owns, manages and invests in income-producing commercial real estate. The company's portfolio is focused primarily on open-air shopping centers and other retail properties, including locations anchored by grocery stores, home-improvement retailers and other necessity-based tenants.
The company also makes structured investments in commercial real estate and may pursue additional property investments in select markets.
Further Reading
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