Sanctuary Advisors LLC Takes Position in CTO Realty Growth, Inc. (NYSE:CTO)

Sanctuary Advisors LLC bought a new position in CTO Realty Growth, Inc. (NYSE:CTO) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,359 shares of the company’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of CTO Realty Growth by 6.3% in the second quarter. Bank of New York Mellon Corp now owns 138,472 shares of the company’s stock worth $2,418,000 after purchasing an additional 8,172 shares in the last quarter. Rhumbline Advisers boosted its holdings in CTO Realty Growth by 1.3% during the second quarter. Rhumbline Advisers now owns 45,665 shares of the company’s stock valued at $797,000 after acquiring an additional 606 shares during the period. Farmers & Merchants Investments Inc. acquired a new position in shares of CTO Realty Growth during the second quarter worth approximately $26,000. LSV Asset Management grew its position in CTO Realty Growth by 18.8% during the second quarter. LSV Asset Management now owns 381,960 shares of the company’s stock worth $6,669,000 after buying an additional 60,480 shares in the last quarter. Finally, Quest Partners LLC increased its position in shares of CTO Realty Growth by 75.4% during the second quarter. Quest Partners LLC now owns 16,924 shares of the company’s stock valued at $295,000 after purchasing an additional 7,276 shares during the period. Institutional investors and hedge funds own 67.18% of the company’s stock.

CTO Realty Growth Trading Down 0.9 %

CTO opened at $19.40 on Monday. The firm has a 50 day simple moving average of $19.87 and a 200 day simple moving average of $19.15. The company has a market cap of $581.53 million, a price-to-earnings ratio of 32.88 and a beta of 0.77. 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 fifty-two week low of $16.16 and a fifty-two week high of $21.15.

CTO Realty Growth (NYSE:CTO) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.27). CTO Realty Growth had a net margin of 17.10% and a return on equity of 4.04%. The company had revenue of $31.81 million during the quarter, compared to analyst estimates of $30.15 million. During the same quarter last year, the company earned $0.48 EPS. On average, sell-side analysts anticipate that CTO Realty Growth, Inc. will post 1.8 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. Shareholders of record on Thursday, December 12th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 7.84%. The ex-dividend date is Thursday, December 12th. CTO Realty Growth’s dividend payout ratio (DPR) is presently 257.63%.

Insider Activity at CTO Realty Growth

In other CTO Realty Growth news, CEO John P. Albright sold 29,488 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $20.71, for a total value of $610,696.48. Following the transaction, the chief executive officer now directly owns 570,554 shares of the company’s stock, valued at $11,816,173.34. This represents a 4.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 5.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on CTO shares. StockNews.com lowered CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Raymond James raised shares of CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $22.00 to $24.00 in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, CTO Realty Growth presently has an average rating of “Buy” and a consensus price target 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.