Thrivent Financial for Lutherans Purchases Shares of 237,067 CTO Realty Growth, Inc. (NYSE:CTO)

Thrivent Financial for Lutherans acquired a new stake in CTO Realty Growth, Inc. (NYSE:CTO) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 237,067 shares of the company’s stock, valued at approximately $4,673,000. Thrivent Financial for Lutherans owned approximately 0.79% of CTO Realty Growth at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. bought a new position in CTO Realty Growth in the 3rd quarter valued at about $253,000. GSA Capital Partners LLP bought a new position in shares of CTO Realty Growth in the third quarter valued at approximately $223,000. Charles Schwab Investment Management Inc. boosted its position in shares of CTO Realty Growth by 162.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 161,291 shares of the company’s stock valued at $3,068,000 after buying an additional 99,943 shares during the last quarter. Penserra Capital Management LLC grew its holdings in CTO Realty Growth by 22.8% during the third quarter. Penserra Capital Management LLC now owns 55,968 shares of the company’s stock worth $1,064,000 after buying an additional 10,385 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in CTO Realty Growth during the third quarter worth $205,000. 67.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CTO shares. B. Riley reaffirmed a “buy” rating and set a $23.00 price objective (up from $22.50) on shares of CTO Realty Growth in a report on Wednesday, March 5th. StockNews.com downgraded shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. One investment analyst has rated the stock with a sell rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $21.50.

CTO Realty Growth Price Performance

CTO opened at $19.29 on Tuesday. CTO Realty Growth, Inc. has a fifty-two week low of $16.51 and a fifty-two week high of $21.15. The firm has a 50-day moving average of $19.46 and a 200 day moving average of $19.53. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.96 and a current ratio of 3.96. The firm has a market cap of $614.38 million, a P/E ratio of -87.70 and a beta of 0.77.

CTO Realty Growth (NYSE:CTO) last issued its quarterly 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 return on equity of 0.38% and a negative net margin of 1.58%. The firm had revenue of $35.74 million for the quarter, compared to analysts’ expectations of $33.39 million. On average, research analysts expect that CTO Realty Growth, Inc. will post 1.92 EPS for the current year.

CTO Realty Growth Dividend Announcement

The firm also recently announced 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 is Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 7.88%. CTO Realty Growth’s payout ratio is -690.91%.

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.