CTO Realty Growth, Inc. Forecasted to Earn Q3 2024 Earnings of $0.47 Per Share (NYSE:CTO)

CTO Realty Growth, Inc. (NYSE:CTO) – B. Riley issued their Q3 2024 earnings estimates for CTO Realty Growth in a research note issued on Monday, September 16th. B. Riley analyst J. Massocca anticipates that the company will post earnings per share of $0.47 for the quarter. The consensus estimate for CTO Realty Growth’s current full-year earnings is $1.77 per share. B. Riley also issued estimates for CTO Realty Growth’s Q4 2024 earnings at $0.46 EPS, FY2024 earnings at $1.83 EPS and FY2025 earnings at $1.96 EPS.

CTO Realty Growth (NYSE:CTO) last announced its quarterly earnings data on Thursday, July 25th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.42). CTO Realty Growth had a net margin of 14.52% and a return on equity of 3.55%. The company had revenue of $28.85 million during the quarter, compared to analyst estimates of $27.46 million. During the same quarter last year, the business earned $0.48 EPS.

A number of other analysts also recently commented on CTO. Raymond James boosted their target price on CTO Realty Growth from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Alliance Global Partners upgraded shares of CTO Realty Growth to a “strong-buy” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $20.33.

CTO Realty Growth Price Performance

Shares of NYSE:CTO opened at $19.19 on Thursday. The firm has a market capitalization of $440.33 million, a price-to-earnings ratio of 34.93 and a beta of 0.76. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.42 and a quick ratio of 3.42. The business’s 50 day simple moving average is $19.24 and its 200-day simple moving average is $17.93. CTO Realty Growth has a 12 month low of $15.63 and a 12 month high of $21.15.

CTO Realty Growth Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 12th will be given a $0.38 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.52 annualized dividend and a dividend yield of 7.92%. CTO Realty Growth’s dividend payout ratio is currently 276.36%.

Insider Activity at CTO Realty Growth

In related news, major shareholder Cto Realty Growth, Inc. acquired 7,959 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was purchased at an average price of $14.97 per share, for a total transaction of $119,146.23. Following the transaction, the insider now owns 190,094 shares in the company, valued at approximately $2,845,707.18. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other CTO Realty Growth news, Director Christopher W. Haga sold 3,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $19.45, for a total transaction of $58,350.00. Following the transaction, the director now owns 44,988 shares of the company’s stock, valued at approximately $875,016.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Cto Realty Growth, Inc. acquired 7,959 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were acquired at an average price of $14.97 per share, for a total transaction of $119,146.23. Following the acquisition, the insider now directly owns 190,094 shares of the company’s stock, valued at $2,845,707.18. The disclosure for this purchase can be found here. Insiders have purchased a total of 20,783 shares of company stock valued at $311,441 over the last quarter. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On CTO Realty Growth

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of CTO Realty Growth by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 1,079,798 shares of the company’s stock valued at $18,303,000 after acquiring an additional 5,617 shares during the last quarter. Heitman Real Estate Securities LLC raised its stake in CTO Realty Growth by 8.6% during the fourth quarter. Heitman Real Estate Securities LLC now owns 941,612 shares of the company’s stock worth $16,318,000 after purchasing an additional 74,939 shares during the period. Grace & White Inc. NY raised its stake in CTO Realty Growth by 0.4% during the second quarter. Grace & White Inc. NY now owns 604,041 shares of the company’s stock worth $10,547,000 after purchasing an additional 2,602 shares during the period. Ingalls & Snyder LLC boosted its holdings in shares of CTO Realty Growth by 223.2% in the 2nd quarter. Ingalls & Snyder LLC now owns 395,870 shares of the company’s stock valued at $6,912,000 after purchasing an additional 273,400 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of CTO Realty Growth by 11.9% during the 1st quarter. Russell Investments Group Ltd. now owns 393,252 shares of the company’s stock valued at $6,666,000 after buying an additional 41,938 shares during the period. 67.18% of the stock is currently owned by hedge funds and other institutional investors.

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.