Concorde Asset Management LLC Makes New $204,000 Investment in CTO Realty Growth, Inc. (NYSE:CTO)

Concorde Asset Management LLC acquired a new stake in shares of CTO Realty Growth, Inc. (NYSE:CTO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,700 shares of the company’s stock, valued at approximately $204,000. Concorde Asset Management LLC owned 0.05% of CTO Realty Growth as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CTO. Hsbc Holdings PLC raised its stake in shares of CTO Realty Growth by 145.0% in the second quarter. Hsbc Holdings PLC now owns 88,707 shares of the company’s stock valued at $1,531,000 after acquiring an additional 52,500 shares during the last quarter. Mutual of America Capital Management LLC raised its position in CTO Realty Growth by 24.7% in the 2nd quarter. Mutual of America Capital Management LLC now owns 127,294 shares of the company’s stock valued at $2,223,000 after purchasing an additional 25,221 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in CTO Realty Growth by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 299,434 shares of the company’s stock worth $5,228,000 after purchasing an additional 1,302 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in CTO Realty Growth in the second quarter worth $178,000. Finally, Quest Partners LLC grew its holdings in shares of CTO Realty Growth by 75.4% during the second quarter. Quest Partners LLC now owns 16,924 shares of the company’s stock worth $295,000 after purchasing an additional 7,276 shares during the last quarter. Institutional investors and hedge funds own 67.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on CTO shares. Alliance Global Partners upgraded shares of CTO Realty Growth to a “strong-buy” rating in a research report on Friday, July 26th. Raymond James upped their target price on shares of CTO Realty Growth from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $20.33.

Insider Buying and Selling

In other CTO Realty Growth news, Director Christopher W. Haga sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $19.19, for a total transaction of $57,570.00. Following the transaction, the director now owns 44,988 shares in the company, valued at $863,319.72. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Christopher W. Haga sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $19.19, for a total value of $57,570.00. Following the sale, the director now directly owns 44,988 shares in the company, valued at approximately $863,319.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Cto Realty Growth, Inc. acquired 6,562 shares of CTO Realty Growth stock in a transaction that occurred on Tuesday, July 9th. The shares were purchased at an average cost of $14.99 per share, for a total transaction of $98,364.38. Following the purchase, the insider now directly owns 202,918 shares in the company, valued at $3,041,740.82. The disclosure for this purchase can be found here. Insiders purchased a total of 20,783 shares of company stock valued at $311,441 over the last three months. Company insiders own 5.00% of the company’s stock.

CTO Realty Growth Price Performance

CTO Realty Growth stock opened at $19.42 on Friday. The stock has a market cap of $445.61 million, a price-to-earnings ratio of 35.31 and a beta of 0.76. CTO Realty Growth, Inc. has a 12-month low of $15.63 and a 12-month high of $21.15. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 0.98. The business’s 50-day simple moving average is $19.21 and its 200 day simple moving average is $17.92.

CTO Realty Growth (NYSE:CTO) last issued its quarterly earnings results on Thursday, July 25th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.42). CTO Realty Growth had a return on equity of 3.55% and a net margin of 14.52%. The business had revenue of $28.85 million for the quarter, compared to analyst estimates of $27.46 million. During the same quarter in the prior year, the firm earned $0.48 EPS. As a group, research analysts anticipate that CTO Realty Growth, Inc. will post 1.77 earnings per share for the current year.

CTO Realty Growth Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 12th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.52 annualized dividend and a dividend yield of 7.83%. CTO Realty Growth’s dividend payout ratio is currently 276.36%.

CTO Realty Growth 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.