Principal Financial Group Inc. Acquires 1,821 Shares of CTO Realty Growth, Inc. (NYSE:CTO)

Principal Financial Group Inc. lifted its holdings in shares of CTO Realty Growth, Inc. (NYSE:CTO) by 13.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,139 shares of the company’s stock after purchasing an additional 1,821 shares during the period. Principal Financial Group Inc. owned 0.05% of CTO Realty Growth worth $298,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CTO. Creative Planning bought a new stake in shares of CTO Realty Growth during the 3rd quarter valued at about $237,000. Asset Management One Co. Ltd. raised its stake in CTO Realty Growth by 3.7% during 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. Los Angeles Capital Management LLC acquired a new position in CTO Realty Growth during the 3rd quarter worth approximately $1,794,000. GSA Capital Partners LLP acquired a new position in CTO Realty Growth during the 3rd quarter worth approximately $223,000. Finally, Charles Schwab Investment Management Inc. raised its stake in CTO Realty Growth by 162.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 161,291 shares of the company’s stock worth $3,068,000 after buying an additional 99,943 shares during the period. Institutional investors own 67.18% of the company’s stock.

CTO Realty Growth Price Performance

Shares of NYSE CTO opened at $19.29 on Friday. CTO Realty Growth, Inc. has a 1-year low of $16.33 and a 1-year high of $21.15. The stock has a fifty day simple moving average of $19.59 and a two-hundred day simple moving average of $19.53. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 0.88. The firm has a market cap of $614.19 million, a price-to-earnings ratio of -87.67 and a beta of 0.77.

CTO Realty Growth (NYSE:CTO) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.48. The firm had revenue of $35.74 million during the quarter, compared to analyst estimates of $33.39 million. CTO Realty Growth had a negative return on equity of 0.38% and a negative net margin of 1.58%. Analysts anticipate that CTO Realty Growth, Inc. will post 1.92 earnings per share for the current year.

CTO Realty Growth Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 13th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a yield of 7.88%. CTO Realty Growth’s payout ratio is -690.91%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CTO shares. B. Riley reaffirmed a “buy” rating and set a $23.00 price target (up from $22.50) on shares of CTO Realty Growth in a research note on Wednesday. StockNews.com downgraded CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. One equities 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. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $21.50.

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.