CTO Realty Growth, Inc. (NYSE:CTO) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN increased its holdings in shares of CTO Realty Growth, Inc. (NYSE:CTO - Free Report) by 20.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,011 shares of the company's stock after buying an additional 15,788 shares during the period. Wells Fargo & Company MN owned about 0.31% of CTO Realty Growth worth $1,853,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CTO. Vanguard Group Inc. boosted its position in shares of CTO Realty Growth by 118.6% during the fourth quarter. Vanguard Group Inc. now owns 2,514,789 shares of the company's stock valued at $49,566,000 after buying an additional 1,364,637 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in shares of CTO Realty Growth in the fourth quarter valued at approximately $4,673,000. Charles Schwab Investment Management Inc. increased its position in shares of CTO Realty Growth by 143.1% during 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 during the last quarter. Raymond James Financial Inc. bought a new stake in CTO Realty Growth during the fourth quarter worth $3,787,000. Finally, Geode Capital Management LLC grew its stake in CTO Realty Growth by 30.9% in the 4th quarter. Geode Capital Management LLC now owns 679,893 shares of the company's stock valued at $13,403,000 after purchasing an additional 160,593 shares during the period. Institutional investors own 67.18% of the company's stock.

Analyst Ratings Changes

CTO has been the topic of several recent research reports. StockNews.com downgraded CTO Realty Growth from a "hold" rating to a "sell" rating in a research report on Saturday, March 1st. B. Riley reiterated 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. One equities research analyst has rated the stock with a sell rating, two have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $22.00.

CTO Realty Growth Stock Performance

NYSE:CTO traded down $0.03 during trading hours on Thursday, hitting $18.25. 33,842 shares of the company were exchanged, compared to its average volume of 340,216. The company's 50 day moving average price is $18.49 and its 200-day moving average price is $19.35. The stock has a market capitalization of $580.98 million, a price-to-earnings ratio of -82.93 and a beta of 0.61. CTO Realty Growth, Inc. has a 52-week low of $16.12 and a 52-week high of $21.15. 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 quarterly earnings results on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.48. CTO Realty Growth had a negative return on equity of 0.38% and a negative net margin of 1.58%. The business had revenue of $35.74 million for the quarter, compared to the consensus estimate of $33.39 million. As a group, research analysts forecast that CTO Realty Growth, Inc. will post 1.92 earnings per share for the current year.

CTO Realty Growth Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 13th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.33%. The ex-dividend date of this dividend 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.