Raymond James Has Lowered Expectations for CTO Realty Growth (NYSE:CTO) Stock Price

CTO Realty Growth (NYSE:CTO - Get Free Report) had its target price reduced by stock analysts at Raymond James from $24.00 to $22.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "strong-buy" rating on the stock. Raymond James' price objective indicates a potential upside of 24.05% from the company's previous close.

Other analysts have also issued research reports about the stock. B. Riley reissued a "buy" rating and issued a $23.00 price target (up previously from $22.50) on shares of CTO Realty Growth in a research report on Wednesday, March 5th. Wall Street Zen downgraded CTO Realty Growth from a "hold" rating to a "sell" rating in a report on Tuesday, May 13th.

CTO Realty Growth Price Performance

CTO Realty Growth stock traded down $0.02 during midday trading on Friday, reaching $17.74. The company's stock had a trading volume of 31,074 shares, compared to its average volume of 346,941. CTO Realty Growth has a 52 week low of $16.12 and a 52 week high of $21.15. 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 cap of $584.10 million, a PE ratio of -80.59 and a beta of 0.76. The business has a 50-day moving average price of $18.23 and a 200-day moving average price of $19.19.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.48. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. The business had revenue of $35.74 million during the quarter, compared to the consensus estimate of $33.39 million. On average, sell-side analysts predict that CTO Realty Growth will post 1.92 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System acquired a new stake in CTO Realty Growth during the first quarter worth $51,000. Summit Investment Advisors Inc. boosted its stake in shares of CTO Realty Growth by 39.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,020 shares of the company's stock valued at $60,000 after purchasing an additional 852 shares during the period. NewEdge Advisors LLC grew its holdings in shares of CTO Realty Growth by 300.0% in the fourth quarter. NewEdge Advisors LLC now owns 4,000 shares of the company's stock valued at $79,000 after purchasing an additional 3,000 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of CTO Realty Growth by 32.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 8,666 shares of the company's stock worth $171,000 after buying an additional 2,118 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in shares of CTO Realty Growth in the 4th quarter valued at about $179,000. Hedge funds and other institutional investors own 67.18% of the company's stock.

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.

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