Oppenheimer Asset Management Inc. Acquires New Holdings in CTO Realty Growth, Inc. (NYSE:CTO)

Oppenheimer Asset Management Inc. bought a new position in shares of CTO Realty Growth, Inc. (NYSE:CTO) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,185 shares of the company’s stock, valued at approximately $178,000.

Other institutional investors also recently modified their holdings of the company. 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 worth $16,318,000 after acquiring an additional 74,939 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of CTO Realty Growth by 11.9% during the first quarter. Russell Investments Group Ltd. now owns 393,252 shares of the company’s stock valued at $6,666,000 after purchasing an additional 41,938 shares in the last quarter. LDR Capital Management LLC bought a new stake in shares of CTO Realty Growth during the second quarter worth about $483,000. CWM LLC increased its stake in shares of CTO Realty Growth by 17.5% in the second quarter. CWM LLC now owns 4,527 shares of the company’s stock valued at $79,000 after buying an additional 673 shares during the period. Finally, Farmers & Merchants Investments Inc. acquired a new position in shares of CTO Realty Growth in the second quarter valued at approximately $26,000. 67.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTO has been the topic of a number of research reports. Raymond James boosted their target price on shares of CTO Realty Growth from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Alliance Global Partners raised shares of CTO Realty Growth to a “strong-buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $20.33.

CTO Realty Growth Stock Performance

Shares of CTO stock opened at $19.17 on Monday. The stock has a market capitalization of $439.87 million, a PE ratio of 34.85 and a beta of 0.76. The business’s 50 day simple moving average is $19.26 and its 200 day simple moving average is $17.96. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.42 and a quick ratio of 3.42. CTO Realty Growth, Inc. has a one year low of $15.63 and a one year high of $21.15.

CTO Realty Growth (NYSE:CTO) last posted its quarterly earnings data on Thursday, July 25th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $28.85 million during the quarter, compared to the consensus estimate of $27.46 million. During the same period in the prior year, the company posted $0.48 earnings per share. As a group, research analysts forecast 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. Stockholders of record on Thursday, September 12th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.93%. The ex-dividend date is Thursday, September 12th. CTO Realty Growth’s dividend payout ratio is 276.36%.

Insider Activity at CTO Realty Growth

In other CTO Realty Growth news, major shareholder Cto Realty Growth, Inc. bought 7,959 shares of the stock in a transaction on Thursday, June 27th. The stock was acquired at an average cost of $14.97 per share, for a total transaction of $119,146.23. Following the completion of the acquisition, the insider now owns 190,094 shares in the company, valued at approximately $2,845,707.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Christopher W. Haga sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $19.19, for a total transaction of $57,570.00. Following the transaction, the director now owns 44,988 shares in the company, valued at $863,319.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Cto Realty Growth, Inc. bought 7,959 shares of CTO Realty Growth stock in a transaction dated Thursday, June 27th. The stock was purchased at an average price of $14.97 per share, with a total value of $119,146.23. Following the completion of the purchase, the insider now owns 190,094 shares in the company, valued at $2,845,707.18. The disclosure for this purchase can be found here. Insiders have acquired a total of 20,783 shares of company stock worth $311,441 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.

CTO Realty Growth 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.