Corebridge Financial Inc. Purchases 2,536 Shares of CTO Realty Growth, Inc. (NYSE:CTO)

Corebridge Financial Inc. increased its position in shares of CTO Realty Growth, Inc. (NYSE:CTO) by 21.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,350 shares of the company’s stock after buying an additional 2,536 shares during the period. Corebridge Financial Inc.’s holdings in CTO Realty Growth were worth $283,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in CTO Realty Growth by 118.6% during the 4th quarter. Vanguard Group Inc. now owns 2,514,789 shares of the company’s stock worth $49,566,000 after acquiring an additional 1,364,637 shares during the period. Quantbot Technologies LP grew its stake in CTO Realty Growth by 92.4% during the fourth quarter. Quantbot Technologies LP now owns 55,345 shares of the company’s stock worth $1,091,000 after purchasing an additional 26,586 shares during the period. Thrivent Financial for Lutherans acquired a new stake in CTO Realty Growth during the fourth quarter worth approximately $4,673,000. Truvestments Capital LLC increased its holdings in CTO Realty Growth by 5.2% in the fourth quarter. Truvestments Capital LLC now owns 163,862 shares of the company’s stock worth $3,230,000 after purchasing an additional 8,128 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new position in CTO Realty Growth in the fourth quarter valued at approximately $914,000. Institutional investors and hedge funds own 67.18% of the company’s stock.

CTO Realty Growth Stock Down 2.0 %

Shares of NYSE:CTO opened at $17.13 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.96 and a current ratio of 3.96. CTO Realty Growth, Inc. has a 52-week low of $16.12 and a 52-week high of $21.15. The business’s 50 day simple moving average is $19.08 and its two-hundred day simple moving average is $19.43. The firm has a market cap of $545.47 million, a P/E ratio of -77.86 and a beta of 0.61.

CTO Realty Growth (NYSE:CTO) last issued its earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping 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 company had revenue of $35.74 million for the quarter, compared to analysts’ expectations of $33.39 million. As a group, research analysts forecast that CTO Realty Growth, Inc. will post 1.92 EPS for the current fiscal year.

CTO Realty Growth Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 13th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.87%. The ex-dividend date of this dividend was Thursday, March 13th. CTO Realty Growth’s dividend payout ratio is currently -690.91%.

Analyst Upgrades and Downgrades

CTO has been the subject of several recent analyst reports. StockNews.com downgraded shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. B. Riley restated a “buy” rating and issued a $23.00 price target (up from $22.50) on shares of CTO Realty Growth in a report on Wednesday, March 5th. One equities research 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 stock. According to data from MarketBeat.com, CTO Realty Growth currently has an average rating of “Buy” and an average target price of $22.00.

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.