GSA Capital Partners LLP Buys New Stake in CTO Realty Growth, Inc. (NYSE:CTO)

GSA Capital Partners LLP bought a new position in CTO Realty Growth, Inc. (NYSE:CTO) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,711 shares of the company’s stock, valued at approximately $223,000.

A number of other institutional investors have also modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new stake in shares of CTO Realty Growth in the third quarter valued at approximately $1,794,000. Principal Financial Group Inc. bought a new stake in CTO Realty Growth during the 3rd quarter valued at $253,000. Asset Management One Co. Ltd. lifted its holdings in shares of CTO Realty Growth by 3.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 57,754 shares of the company’s stock worth $1,098,000 after buying an additional 2,037 shares during the period. Values Added Financial LLC bought a new position in shares of CTO Realty Growth during the 3rd quarter worth $190,000. Finally, Pinnacle Associates Ltd. increased its stake in shares of CTO Realty Growth by 7.6% during the third quarter. Pinnacle Associates Ltd. now owns 49,728 shares of the company’s stock valued at $862,000 after buying an additional 3,492 shares during the period. 67.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CTO Realty Growth

In other news, Director Christopher W. Haga sold 3,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $19.19, for a total value of $57,570.00. Following the completion of the sale, the director now directly owns 44,988 shares in the company, valued at $863,319.72. This represents a 6.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John P. Albright sold 29,488 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.71, for a total transaction of $610,696.48. Following the transaction, the chief executive officer now owns 570,554 shares in the company, valued at $11,816,173.34. The trade was a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,488 shares of company stock worth $726,616 over the last quarter. 5.30% of the stock is currently owned by insiders.

CTO Realty Growth Price Performance

Shares of CTO stock opened at $19.81 on Monday. The company has a market cap of $593.82 million, a P/E ratio of 33.58 and a beta of 0.76. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.96 and a quick ratio of 3.96. The stock’s 50-day moving average is $19.38 and its 200 day moving average is $18.73. CTO Realty Growth, Inc. has a 1-year low of $16.16 and a 1-year high of $21.15.

CTO Realty Growth (NYSE:CTO) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.27). CTO Realty Growth had a return on equity of 4.04% and a net margin of 17.10%. The firm had revenue of $31.81 million during the quarter, compared to analysts’ expectations of $30.15 million. During the same period in the previous year, the firm earned $0.48 EPS. Research analysts predict that CTO Realty Growth, Inc. will post 1.79 earnings per share for the current fiscal year.

CTO Realty Growth Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 12th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.67%. The ex-dividend date is Thursday, December 12th. CTO Realty Growth’s payout ratio is 257.63%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Raymond James upgraded shares of CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $22.00 to $24.00 in a report on Wednesday, October 30th. StockNews.com downgraded shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One investment 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 stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $21.00.

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.