Principal Financial Group Inc. Buys Shares of 13,318 CTO Realty Growth, Inc. (NYSE:CTO)

Principal Financial Group Inc. purchased a new position in shares of CTO Realty Growth, Inc. (NYSE:CTO) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 13,318 shares of the company’s stock, valued at approximately $253,000. Principal Financial Group Inc. owned approximately 0.06% of CTO Realty Growth at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CTO. Ingalls & Snyder LLC boosted its position in CTO Realty Growth by 223.2% during the second quarter. Ingalls & Snyder LLC now owns 395,870 shares of the company’s stock worth $6,912,000 after acquiring an additional 273,400 shares during the last quarter. Kennedy Capital Management LLC boosted its holdings in shares of CTO Realty Growth by 110.2% during the first quarter. Kennedy Capital Management LLC now owns 241,521 shares of the company’s stock worth $4,094,000 after purchasing an additional 126,615 shares during the last quarter. LSV Asset Management grew its position in shares of CTO Realty Growth by 18.8% in the second quarter. LSV Asset Management now owns 381,960 shares of the company’s stock valued at $6,669,000 after purchasing an additional 60,480 shares during the period. AQR Capital Management LLC grew its position in shares of CTO Realty Growth by 104.7% in the second quarter. AQR Capital Management LLC now owns 103,805 shares of the company’s stock valued at $1,812,000 after purchasing an additional 53,083 shares during the period. Finally, Hsbc Holdings PLC increased its stake in 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 purchasing an additional 52,500 shares during the last quarter. Institutional investors and hedge funds own 67.18% of the company’s stock.

Analysts Set New Price Targets

CTO has been the subject of several recent analyst reports. Raymond James upgraded CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company 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 report on Monday, October 28th. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $21.00.

Insider Activity at CTO Realty Growth

In other news, Director Christopher W. Haga sold 3,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $19.45, for a total transaction of $58,350.00. Following the transaction, the director now directly owns 44,988 shares of the company’s stock, valued at approximately $875,016.60. The trade was a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John P. Albright sold 29,488 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $20.71, for a total transaction of $610,696.48. Following the sale, the chief executive officer now directly owns 570,554 shares of the company’s stock, valued at approximately $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. In the last three months, insiders sold 35,488 shares of company stock worth $726,616. Corporate insiders own 5.30% of the company’s stock.

CTO Realty Growth Stock Performance

Shares of NYSE:CTO opened at $19.90 on Tuesday. The business has a 50-day moving average of $19.38 and a two-hundred day moving average of $18.75. The firm has a market capitalization of $596.45 million, a PE ratio of 33.72 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. CTO Realty Growth, Inc. has a 12 month low of $16.16 and a 12 month high of $21.15.

CTO Realty Growth (NYSE:CTO) last posted its earnings results 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). The business had revenue of $31.81 million for the quarter, compared to analyst estimates of $30.15 million. CTO Realty Growth had a return on equity of 4.04% and a net margin of 17.10%. During the same period last year, the company posted $0.48 EPS. As a group, research analysts forecast that CTO Realty Growth, Inc. will post 1.79 earnings per share for the current year.

CTO Realty Growth Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, December 12th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, December 12th. This represents a $1.52 dividend on an annualized basis and a yield of 7.64%. CTO Realty Growth’s dividend payout ratio (DPR) is 257.63%.

About CTO Realty Growth

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.