Rhumbline Advisers Purchases 6,773 Shares of CTO Realty Growth, Inc. (NYSE:CTO)

Rhumbline Advisers raised its position in CTO Realty Growth, Inc. (NYSE:CTO) by 15.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,379 shares of the company’s stock after purchasing an additional 6,773 shares during the period. Rhumbline Advisers owned approximately 0.17% of CTO Realty Growth worth $993,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Truvestments Capital LLC increased its stake in CTO Realty Growth by 0.4% during the 3rd quarter. Truvestments Capital LLC now owns 155,734 shares of the company’s stock worth $2,962,000 after purchasing an additional 551 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of CTO Realty Growth by 4.5% in the third quarter. The Manufacturers Life Insurance Company now owns 21,297 shares of the company’s stock valued at $405,000 after buying an additional 915 shares during the period. Ingalls & Snyder LLC increased its position in shares of CTO Realty Growth by 0.3% during the third quarter. Ingalls & Snyder LLC now owns 397,111 shares of the company’s stock worth $7,553,000 after acquiring an additional 1,241 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of CTO Realty Growth by 3.7% during the third quarter. Asset Management One Co. Ltd. now owns 57,754 shares of the company’s stock worth $1,098,000 after acquiring an additional 2,037 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in CTO Realty Growth by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,683 shares of the company’s stock valued at $1,211,000 after acquiring an additional 2,500 shares in the last quarter. 67.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CTO. StockNews.com cut CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. B. Riley reiterated a “buy” rating and set a $23.00 price objective (up from $22.50) on shares of CTO Realty Growth in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, CTO Realty Growth presently has a consensus rating of “Buy” and a consensus target price of $21.50.

CTO Realty Growth Stock Up 0.1 %

Shares of CTO stock opened at $18.72 on Friday. The firm’s fifty day moving average price is $19.61 and its two-hundred day moving average price is $19.54. CTO Realty Growth, Inc. has a 1 year low of $16.33 and a 1 year high of $21.15. 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 capitalization of $596.23 million, a P/E ratio of -85.11 and a beta of 0.77.

CTO Realty Growth (NYSE:CTO) last released its earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.48. The business had revenue of $35.74 million for 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%. On average, equities analysts predict that CTO Realty Growth, Inc. will post 1.92 EPS for the current fiscal year.

CTO Realty Growth Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 13th will be issued 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 8.12%. CTO Realty Growth’s payout ratio is -690.91%.

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.