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

CTO Realty Growth (NYSE:CTO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.830-1.870 for the period, compared to the consensus EPS estimate of 1.840. The company issued revenue guidance of -.

CTO Realty Growth Price Performance

Shares of CTO traded down $0.16 during trading hours on Friday, reaching $19.56. 441,465 shares of the stock traded hands, compared to its average volume of 232,849. The company has a market cap of $448.82 million, a P/E ratio of 35.56 and a beta of 0.76. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 0.98. The company’s 50-day moving average price is $19.12 and its two-hundred day moving average price is $18.32. CTO Realty Growth has a 52-week low of $15.64 and a 52-week high of $21.15.

CTO Realty Growth (NYSE:CTO) last released its quarterly earnings data on Thursday, July 25th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.42). The business had revenue of $28.85 million during the quarter, compared to the consensus estimate of $27.46 million. CTO Realty Growth had a return on equity of 3.55% and a net margin of 14.52%. During the same period last year, the company earned $0.48 EPS. On average, analysts anticipate that CTO Realty Growth will post 1.78 earnings per share for the current year.

CTO Realty Growth Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 12th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.52 annualized dividend and a yield of 7.77%. CTO Realty Growth’s payout ratio is 276.36%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CTO. Alliance Global Partners upgraded shares of CTO Realty Growth to a “strong-buy” rating in a research report on Friday, July 26th. Raymond James increased their price objective on shares of CTO Realty Growth from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, August 16th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.33.

Insider Activity at CTO Realty Growth

In other CTO Realty Growth 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 value of $58,350.00. Following the completion of the transaction, the director now directly owns 44,988 shares of the company’s stock, valued at $875,016.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 5.00% of the stock is currently owned by insiders.

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.