Daiwa Securities Group Inc. Raises Stake in CTO Realty Growth, Inc. (NYSE:CTO)

Daiwa Securities Group Inc. boosted its holdings in shares of CTO Realty Growth, Inc. (NYSE:CTO) by 32.3% in the fourth quarter, HoldingsChannel reports. The fund owned 8,666 shares of the company’s stock after acquiring an additional 2,118 shares during the period. Daiwa Securities Group Inc.’s holdings in CTO Realty Growth were worth $171,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. AlphaQuest LLC lifted its position in CTO Realty Growth by 1,177.9% during the 4th quarter. AlphaQuest LLC now owns 30,185 shares of the company’s stock valued at $595,000 after acquiring an additional 27,823 shares during the period. PNC Financial Services Group Inc. lifted its position in CTO Realty Growth by 9.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,908 shares of the company’s stock valued at $254,000 after acquiring an additional 1,159 shares during the period. Black Swift Group LLC purchased a new position in CTO Realty Growth in the fourth quarter worth about $560,000. Raymond James Financial Inc. purchased a new position in CTO Realty Growth in the fourth quarter worth about $3,787,000. Finally, Proficio Capital Partners LLC purchased a new position in CTO Realty Growth in the fourth quarter worth about $240,000. 67.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTO has been the subject of several recent analyst reports. StockNews.com cut shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. B. Riley reaffirmed a “buy” rating and issued a $23.00 target price (up from $22.50) on shares of CTO Realty Growth in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, CTO Realty Growth has an average rating of “Buy” and an average target price of $21.50.

CTO Realty Growth Stock Performance

Shares of CTO stock opened at $18.61 on Monday. The company has a 50 day moving average price of $19.50 and a 200-day moving average price of $19.53. CTO Realty Growth, Inc. has a 52 week low of $16.34 and a 52 week high of $21.15. The firm has a market capitalization of $592.44 million, a PE ratio of -84.57 and a beta of 0.77. 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 announced its quarterly earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, topping 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 firm had revenue of $35.74 million during the quarter, compared to analyst estimates of $33.39 million. As a group, equities research analysts expect that CTO Realty Growth, Inc. will post 1.92 earnings per share for the current year.

CTO Realty Growth Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 13th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.17%. CTO Realty Growth’s dividend payout ratio is presently -690.91%.

CTO Realty Growth 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.