CTO Realty Growth (NYSE:CTO) Share Price Crosses Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• CTO Realty Growth shares slipped below their 200-day moving average, trading around $20.20 versus the average of $20.31.
• Analysts maintain a consensus Buy rating and a $24 average price target, although Cantor Fitzgerald cut its target to $23 and some firms downgraded their ratings.
• The company missed quarterly EPS estimates but exceeded revenue expectations. Its annualized dividend yield is about 7.5%, with a payout ratio of 133.3%.

CTO Realty Growth, Inc. (NYSE:CTO - Get Free Report) shares crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $20.31 and traded as low as $20.19. CTO Realty Growth shares last traded at $20.2030, with a volume of 243,093 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CTO. Cantor Fitzgerald lowered their price objective on shares of CTO Realty Growth from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Friday, November 6th. JonesTrading reaffirmed a "buy" rating and issued a $24.00 target price on shares of CTO Realty Growth in a research report on Thursday, October 1st. Huntington began coverage on shares of CTO Realty Growth in a research note on Tuesday, October 27th. They set a "strong-buy" rating for the company. Wall Street Zen lowered shares of CTO Realty Growth from a "hold" rating to a "sell" rating in a research note on Saturday, October 31st. Finally, Weiss Ratings cut CTO Realty Growth from a "buy (b-)" rating to a "hold (c)" rating in a report on Wednesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $24.00.

CTO Realty Growth Trading Down 1.1%

The stock has a fifty day moving average of $20.41 and a 200 day moving average of $20.31. The company has a debt-to-equity ratio of 1.05, a quick ratio of 6.06 and a current ratio of 6.06. The company has a market capitalization of $783.07 million, a PE ratio of 17.72 and a beta of 0.63.

CTO Realty Growth (NYSE:CTO - Get Free Report) last issued its earnings results on Tuesday, October 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.39). CTO Realty Growth had a return on equity of 7.15% and a net margin of 26.12%. The firm had revenue of $46.91 million during the quarter, compared to the consensus estimate of $45.21 million. As a group, sell-side analysts predict that CTO Realty Growth, Inc. will post 2.11 earnings per share for the current fiscal year.

CTO Realty Growth Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 10th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.5%. CTO Realty Growth's dividend payout ratio (DPR) is presently 133.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTO. First Trust Advisors LP increased its stake in CTO Realty Growth by 908.8% during the third quarter. First Trust Advisors LP now owns 188,811 shares of the company's stock worth $3,869,000 after acquiring an additional 170,094 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its stake in shares of CTO Realty Growth by 29.1% in the 3rd quarter. Resona Asset Management Co. Ltd. now owns 16,324 shares of the company's stock valued at $337,000 after purchasing an additional 3,680 shares during the last quarter. Boston Partners lifted its stake in shares of CTO Realty Growth by 47.9% in the 3rd quarter. Boston Partners now owns 346,483 shares of the company's stock valued at $7,099,000 after purchasing an additional 112,169 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of CTO Realty Growth by 2.3% in the 3rd quarter. Voya Investment Management LLC now owns 37,485 shares of the company's stock worth $768,000 after purchasing an additional 843 shares during the period. Finally, Virtus Advisers LLC boosted its holdings in shares of CTO Realty Growth by 1,005.6% in the 3rd quarter. Virtus Advisers LLC now owns 61,558 shares of the company's stock worth $1,261,000 after purchasing an additional 55,990 shares during the period. Hedge funds and other institutional investors own 67.18% of the company's stock.

About CTO Realty Growth

CTO Realty Growth, Inc. is a real estate investment trust that acquires, owns and manages income-producing commercial properties. Its portfolio is focused primarily on open-air retail and mixed-use properties, including shopping centers and other retail-oriented real estate. The company invests in markets across the United States, with an emphasis on high-growth Sun Belt locations. It also holds an interest in Alpine Income Property Trust, a separately traded real estate investment trust focused on commercial net-lease properties.

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