Short Interest in CTO Realty Growth, Inc. (NYSE:CTO) Decreases By 37.5%

CTO Realty Growth, Inc. (NYSE:CTO) was the target of a large decline in short interest in October. As of October 15th, there was short interest totalling 781,400 shares, a decline of 37.5% from the September 30th total of 1,250,000 shares. Based on an average daily volume of 456,000 shares, the short-interest ratio is currently 1.7 days.

Insider Buying and Selling at CTO Realty Growth

In other CTO Realty Growth news, Director Christopher W. Haga sold 3,000 shares of CTO Realty Growth stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $19.19, for a total transaction of $57,570.00. Following the completion of the sale, the director now directly owns 44,988 shares of the company’s stock, valued at $863,319.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CTO Realty Growth

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of CTO Realty Growth by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 1,079,798 shares of the company’s stock valued at $18,303,000 after buying an additional 5,617 shares during the period. Grace & White Inc. NY lifted its holdings in shares of CTO Realty Growth by 0.4% in the 2nd quarter. Grace & White Inc. NY now owns 604,041 shares of the company’s stock valued at $10,547,000 after buying an additional 2,602 shares during the period. Ingalls & Snyder LLC raised its holdings in CTO Realty Growth by 223.2% in the 2nd quarter. Ingalls & Snyder LLC now owns 395,870 shares of the company’s stock worth $6,912,000 after purchasing an additional 273,400 shares during the period. Russell Investments Group Ltd. raised its holdings in CTO Realty Growth by 11.9% in the 1st quarter. Russell Investments Group Ltd. now owns 393,252 shares of the company’s stock worth $6,666,000 after purchasing an additional 41,938 shares during the period. Finally, LSV Asset Management raised its holdings in CTO Realty Growth by 18.8% in the 2nd quarter. LSV Asset Management now owns 381,960 shares of the company’s stock worth $6,669,000 after purchasing an additional 60,480 shares during the period. Institutional investors and hedge funds own 67.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. StockNews.com downgraded CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Monday. Raymond James boosted their target price on CTO Realty Growth from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Finally, Alliance Global Partners upgraded 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 sell rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.33.

CTO Realty Growth Stock Performance

CTO Realty Growth stock traded down $0.12 during trading hours on Tuesday, hitting $19.19. 301,815 shares of the stock traded hands, compared to its average volume of 233,692. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.42 and a quick ratio of 3.42. The firm’s 50 day moving average price is $19.13 and its 200-day moving average price is $18.37. The stock has a market capitalization of $440.22 million, a price-to-earnings ratio of 35.10 and a beta of 0.76. CTO Realty Growth has a 1 year low of $15.64 and a 1 year high of $21.15.

CTO Realty Growth (NYSE:CTO) last posted 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). The firm had revenue of $31.81 million for the quarter, compared to analysts’ expectations of $30.15 million. CTO Realty Growth had a net margin of 14.52% and a return on equity of 3.55%. During the same quarter in the previous year, the firm posted $0.48 EPS. As a group, equities analysts expect that CTO Realty Growth will post 1.78 EPS for the current fiscal year.

CTO Realty Growth Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 12th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.52 annualized dividend and a dividend yield of 7.92%. CTO Realty Growth’s dividend payout ratio (DPR) is presently 276.36%.

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.