Martingale Asset Management L P Acquires 4,192 Shares of CTO Realty Growth, Inc. (NYSE:CTO)

Martingale Asset Management L P grew its holdings in CTO Realty Growth, Inc. (NYSE:CTO) by 21.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,715 shares of the company’s stock after buying an additional 4,192 shares during the quarter. Martingale Asset Management L P owned 0.08% of CTO Realty Growth worth $451,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farmers & Merchants Investments Inc. acquired a new stake in CTO Realty Growth in the 2nd quarter valued at $26,000. Signaturefd LLC lifted its holdings in CTO Realty Growth by 45.4% during the 3rd quarter. Signaturefd LLC now owns 1,785 shares of the company’s stock valued at $34,000 after purchasing an additional 557 shares during the last quarter. Copeland Capital Management LLC acquired a new position in CTO Realty Growth in the third quarter valued at about $49,000. CWM LLC grew its stake in CTO Realty Growth by 17.5% during the second quarter. CWM LLC now owns 4,527 shares of the company’s stock worth $79,000 after buying an additional 673 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of CTO Realty Growth during the third quarter worth approximately $176,000. 67.18% of the stock is owned by institutional investors.

Insider Buying and Selling at CTO Realty Growth

In other news, 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 transaction of $58,350.00. Following the transaction, the director now directly owns 44,988 shares of the company’s stock, valued at $875,016.60. This trade represents a 6.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John P. Albright sold 29,488 shares of CTO Realty Growth stock in a transaction dated 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 owns 570,554 shares in the company, valued at approximately $11,816,173.34. This represents a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.

CTO Realty Growth Price Performance

CTO opened at $20.26 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.96 and a quick ratio of 3.96. The stock has a market capitalization of $607.39 million, a P/E ratio of 34.34 and a beta of 0.77. The company’s 50 day simple moving average is $19.49 and its 200-day simple moving average is $18.85. CTO Realty Growth, Inc. has a one year low of $16.16 and a one year high of $21.15.

CTO Realty Growth (NYSE:CTO) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.27). The firm had revenue of $31.81 million during the quarter, compared to the consensus estimate of $30.15 million. CTO Realty Growth had a net margin of 17.10% and a return on equity of 4.04%. During the same quarter in the previous year, the business posted $0.48 earnings per share. Sell-side analysts anticipate that CTO Realty Growth, Inc. will post 1.8 earnings per share for the current fiscal year.

CTO Realty Growth Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.52 annualized dividend and a yield of 7.50%. CTO Realty Growth’s dividend payout ratio is currently 257.63%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CTO shares. StockNews.com downgraded CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Raymond James raised CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $22.00 to $24.00 in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $21.00.

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.