Axa S.A. Makes New Investment in CTO Realty Growth, Inc. (NYSE:CTO)

Axa S.A. acquired a new stake in CTO Realty Growth, Inc. (NYSE:CTO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 51,566 shares of the company’s stock, valued at approximately $900,000. Axa S.A. owned approximately 0.22% of CTO Realty Growth as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CTO. Cutler Capital Management LLC lifted its holdings in CTO Realty Growth by 18.5% in the 4th quarter. Cutler Capital Management LLC now owns 136,772 shares of the company’s stock valued at $2,370,000 after purchasing an additional 21,317 shares in the last quarter. Heitman Real Estate Securities LLC grew its position in shares of CTO Realty Growth by 8.6% in the fourth quarter. Heitman Real Estate Securities LLC now owns 941,612 shares of the company’s stock valued at $16,318,000 after purchasing an additional 74,939 shares during the period. PNC Financial Services Group Inc. increased its stake in CTO Realty Growth by 19.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,963 shares of the company’s stock valued at $207,000 after purchasing an additional 1,925 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in CTO Realty Growth by 4.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 34,236 shares of the company’s stock worth $580,000 after buying an additional 1,346 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in CTO Realty Growth by 11.9% in the 1st quarter. Russell Investments Group Ltd. now owns 393,252 shares of the company’s stock valued at $6,666,000 after buying an additional 41,938 shares during the period. Institutional investors and hedge funds own 67.18% of the company’s stock.

CTO Realty Growth Price Performance

CTO opened at $18.99 on Wednesday. CTO Realty Growth, Inc. has a twelve month low of $15.63 and a twelve month high of $21.15. The firm has a market cap of $435.74 million, a price-to-earnings ratio of 34.53 and a beta of 0.76. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 0.98. The company has a fifty day simple moving average of $19.28 and a 200 day simple moving average of $18.05.

CTO Realty Growth (NYSE:CTO) last announced its earnings results on Thursday, July 25th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.42). CTO Realty Growth had a net margin of 14.52% and a return on equity of 3.55%. 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 business earned $0.48 earnings per share. Equities research analysts expect that CTO Realty Growth, Inc. will post 1.79 EPS for the current fiscal year.

CTO Realty Growth Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 12th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.00%. The ex-dividend date was Thursday, September 12th. CTO Realty Growth’s payout ratio is 276.36%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Raymond James upped their price target 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. Alliance Global Partners raised CTO Realty Growth to a “strong-buy” rating in a research report on Friday, July 26th. One research 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $20.33.

Insider Activity

In related news, Director Christopher W. Haga sold 3,000 shares of CTO Realty Growth stock in a transaction on Monday, September 9th. The shares were sold at an average price of $19.45, for a total value of $58,350.00. Following the completion of the sale, the director now owns 44,988 shares in the company, valued at $875,016.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Christopher W. Haga sold 3,000 shares of CTO Realty Growth stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $19.45, for a total value of $58,350.00. Following the completion of the transaction, the director now directly owns 44,988 shares in the company, valued at $875,016.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Cto Realty Growth, Inc. purchased 6,262 shares of the stock in a transaction dated Friday, July 5th. The stock was purchased at an average price of $15.00 per share, with a total value of $93,930.00. Following the completion of the acquisition, the insider now directly owns 196,356 shares in the company, valued at approximately $2,945,340. The disclosure for this purchase can be found here. Company insiders own 5.00% 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.