CTO Realty Growth, Inc. (NYSE:CTO) Shares Sold by Elkhorn Partners Limited Partnership

Elkhorn Partners Limited Partnership cut its position in CTO Realty Growth, Inc. (NYSE:CTO) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,000 shares of the company’s stock after selling 1,800 shares during the quarter. CTO Realty Growth makes up 0.5% of Elkhorn Partners Limited Partnership’s investment portfolio, making the stock its 11th biggest holding. Elkhorn Partners Limited Partnership owned about 0.19% of CTO Realty Growth worth $768,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. acquired a new stake in CTO Realty Growth during the 2nd quarter worth approximately $26,000. EntryPoint Capital LLC acquired a new stake in CTO Realty Growth during the 1st quarter worth approximately $31,000. CWM LLC lifted its holdings in shares of CTO Realty Growth by 17.5% in the 2nd 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. Oppenheimer Asset Management Inc. acquired a new stake in shares of CTO Realty Growth in the 2nd quarter valued at approximately $178,000. Finally, Jump Financial LLC acquired a new stake in shares of CTO Realty Growth in the 4th quarter valued at approximately $192,000. 67.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Christopher W. Haga sold 3,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $19.45, for a total transaction of $58,350.00. Following the sale, the director now owns 44,988 shares in the company, valued at $875,016.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Cto Realty Growth, Inc. bought 6,262 shares of CTO Realty Growth stock in a transaction that occurred on Friday, July 5th. The shares were purchased at an average price of $15.00 per share, for a total transaction of $93,930.00. Following the completion of the acquisition, the insider now owns 196,356 shares of the company’s stock, valued at $2,945,340. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher W. Haga sold 3,000 shares of CTO Realty Growth stock in a transaction on Monday, September 9th. The shares were sold at an average price of $19.45, for a total value of $58,350.00. Following the completion of the transaction, the director now owns 44,988 shares in the company, valued at approximately $875,016.60. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 20,783 shares of company stock valued at $311,441. Corporate insiders own 5.00% of the company’s stock.

Analyst Upgrades and Downgrades

CTO has been the subject of several recent analyst reports. Raymond James raised their price target on CTO Realty Growth from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Alliance Global Partners raised CTO Realty Growth to a “strong-buy” rating in a report on Friday, July 26th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given 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

NYSE CTO opened at $19.22 on Wednesday. CTO Realty Growth, Inc. has a 1-year low of $15.63 and a 1-year high of $21.15. The company has a market capitalization of $441.02 million, a P/E ratio of 35.62 and a beta of 0.76. The business has a 50 day moving average price of $19.15 and a 200 day moving average price of $17.89. 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 (NYSE:CTO) last released its quarterly earnings data on Thursday, July 25th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $27.46 million. During the same period in the previous year, the business earned $0.48 earnings per share. Sell-side analysts expect that CTO Realty Growth, Inc. will post 1.77 EPS for the current fiscal year.

CTO Realty Growth Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 12th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 7.91%. The ex-dividend date of this dividend is Thursday, September 12th. CTO Realty Growth’s payout ratio is currently 276.36%.

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.