Commonwealth Equity Services LLC Sells 1,929 Shares of CTO Realty Growth, Inc. (NYSE:CTO)

Commonwealth Equity Services LLC lessened its stake in shares of CTO Realty Growth, Inc. (NYSE:CTO) by 5.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,307 shares of the company’s stock after selling 1,929 shares during the period. Commonwealth Equity Services LLC owned approximately 0.14% of CTO Realty Growth worth $564,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of CTO Realty Growth by 0.5% during the first quarter. Vanguard Group Inc. now owns 1,079,798 shares of the company’s stock valued at $18,303,000 after acquiring an additional 5,617 shares in the last quarter. Heitman Real Estate Securities LLC grew its position in CTO Realty Growth by 8.6% during the 4th 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 last quarter. Grace & White Inc. NY increased its stake in CTO Realty Growth by 0.4% during the 2nd quarter. Grace & White Inc. NY now owns 604,041 shares of the company’s stock valued at $10,547,000 after purchasing an additional 2,602 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in CTO Realty Growth by 11.9% in the first quarter. Russell Investments Group Ltd. now owns 393,252 shares of the company’s stock worth $6,666,000 after buying an additional 41,938 shares during the last quarter. Finally, Kennedy Capital Management LLC lifted its stake in shares of CTO Realty Growth by 110.2% in the first quarter. Kennedy Capital Management LLC now owns 241,521 shares of the company’s stock worth $4,094,000 after buying an additional 126,615 shares in the last quarter. Hedge funds and other institutional investors own 67.18% of the company’s stock.

CTO Realty Growth Stock Performance

Shares of CTO stock opened at $19.19 on Friday. 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 company has a 50 day moving average price of $19.24 and a 200-day moving average price of $17.93. CTO Realty Growth, Inc. has a 52 week low of $15.63 and a 52 week high of $21.15. The firm has a market capitalization of $440.33 million, a PE ratio of 34.93 and a beta of 0.76.

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

CTO Realty Growth Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 12th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.92%. The ex-dividend date of this dividend is Thursday, September 12th. CTO Realty Growth’s payout ratio is 276.36%.

Insider Activity at CTO Realty Growth

In other CTO Realty Growth news, major shareholder Cto Realty Growth, Inc. purchased 7,959 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were acquired at an average cost of $14.97 per share, for a total transaction of $119,146.23. Following the completion of the transaction, the insider now owns 190,094 shares of the company’s stock, valued at $2,845,707.18. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Cto Realty Growth, Inc. purchased 7,959 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was acquired at an average price of $14.97 per share, with a total value of $119,146.23. Following the completion of the acquisition, the insider now owns 190,094 shares of the company’s stock, valued at approximately $2,845,707.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $57,570.00. Following the completion of the transaction, the director now directly owns 44,988 shares in the company, valued at approximately $863,319.72. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 20,783 shares of company stock worth $311,441. 5.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CTO shares. Alliance Global Partners raised shares of CTO Realty Growth to a “strong-buy” rating in a research report on Friday, July 26th. Raymond James lifted their target price on CTO Realty Growth from $20.00 to $22.00 and gave the stock an “outperform” rating in a 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 company’s stock. According to MarketBeat, CTO Realty Growth has an average rating of “Buy” and a consensus target price of $20.33.

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.