CTO Realty Growth (NYSE:CTO) Updates FY 2024 Earnings Guidance

CTO Realty Growth (NYSE:CTO) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.950-2.000 for the period, compared to the consensus earnings per share estimate of 1.640. The company issued revenue guidance of -.

Analyst Ratings Changes

A number of research firms recently weighed in on CTO. Jonestrading dropped their target price on CTO Realty Growth from $21.00 to $19.00 and set a buy rating for the company in a research report on Monday, May 6th. Alliance Global Partners began coverage on CTO Realty Growth in a research report on Monday, April 8th. They issued a buy rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $19.33.

CTO Realty Growth Trading Up 3.3 %

CTO Realty Growth stock traded up $0.63 during trading hours on Friday, reaching $19.61. The company had a trading volume of 206,822 shares, compared to its average volume of 127,313. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.74 and a quick ratio of 4.74. CTO Realty Growth has a 12-month low of $15.63 and a 12-month high of $19.76. The firm has a market cap of $449.97 million, a price-to-earnings ratio of 35.65 and a beta of 0.76. The company has a 50-day moving average price of $17.80 and a 200 day moving average price of $17.21.

CTO Realty Growth Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.52 annualized dividend and a dividend yield of 7.75%. CTO Realty Growth’s dividend payout ratio (DPR) is presently 276.36%.

Insider Activity

In other CTO Realty Growth news, major shareholder Cto Realty Growth, Inc. bought 6,262 shares of CTO Realty Growth stock in a transaction dated Friday, July 5th. The shares were purchased at an average cost of $15.00 per share, with a total value of $93,930.00. Following the completion of the purchase, the insider now owns 196,356 shares of the company’s stock, valued at $2,945,340. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have acquired 21,804 shares of company stock valued at $326,747. Company insiders own 5.00% of the company’s stock.

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.