CTO Realty Growth (NYSE:CTO) Shares Gap Down – Should You Sell?

CTO Realty Growth, Inc. (NYSE:CTO)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $20.21, but opened at $19.56. CTO Realty Growth shares last traded at $18.59, with a volume of 194,027 shares.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CTO shares. StockNews.com upgraded shares of CTO Realty Growth from a “sell” rating to a “hold” rating in a research report on Friday. Raymond James upgraded shares of CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $22.00 to $24.00 in a research report on Wednesday, October 30th.

CTO Realty Growth Price Performance

The stock’s 50-day moving average price is $19.74 and its 200 day moving average price is $19.57. The firm has a market capitalization of $570.67 million, a price-to-earnings ratio of -86.52 and a beta of 0.78. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.88.

CTO Realty Growth (NYSE:CTO) last issued its earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.48. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. The business had revenue of $35.74 million during the quarter, compared to analysts’ expectations of $33.39 million. Equities research analysts expect that CTO Realty Growth, Inc. will post 1.92 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 Monday, March 31st. Investors of record on Thursday, March 13th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.99%. The ex-dividend date of this dividend is Thursday, March 13th. CTO Realty Growth’s dividend payout ratio is currently -690.91%.

Institutional Investors Weigh In On CTO Realty Growth

Hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of CTO Realty Growth by 162.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 161,291 shares of the company’s stock valued at $3,068,000 after purchasing an additional 99,943 shares during the period. Entropy Technologies LP purchased a new stake in shares of CTO Realty Growth in the fourth quarter valued at about $406,000. Barclays PLC grew its holdings in shares of CTO Realty Growth by 251.1% in the third quarter. Barclays PLC now owns 55,911 shares of the company’s stock valued at $1,063,000 after purchasing an additional 39,986 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of CTO Realty Growth in the third quarter valued at about $404,000. Finally, FMR LLC grew its holdings in shares of CTO Realty Growth by 461.4% in the third quarter. FMR LLC now owns 13,608 shares of the company’s stock valued at $259,000 after purchasing an additional 11,184 shares during the period. Hedge funds and other institutional investors own 67.18% of the company’s stock.

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.