Short Interest in CTO Realty Growth, Inc. (NYSE:CTO) Decreases By 37.5%

CTO Realty Growth, Inc. (NYSE:CTO) was the recipient of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 781,400 shares, a drop of 37.5% from the September 30th total of 1,250,000 shares. Based on an average daily trading volume, of 456,000 shares, the days-to-cover ratio is presently 1.7 days.

Analyst Ratings Changes

CTO has been the subject of several research analyst reports. Alliance Global Partners upgraded CTO Realty Growth to a “strong-buy” rating in a research report on Friday, July 26th. StockNews.com cut CTO Realty Growth from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Raymond James raised their price target on CTO Realty Growth from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, CTO Realty Growth presently has an average rating of “Moderate Buy” and a consensus price target of $20.33.

CTO Realty Growth Price Performance

NYSE CTO traded down $0.12 during trading on Tuesday, hitting $19.19. 301,815 shares of the stock traded hands, compared to its average volume of 233,692. The company has a market capitalization of $440.22 million, a P/E ratio of 35.10 and a beta of 0.76. The firm has a 50-day simple moving average of $19.13 and a 200-day simple moving average of $18.37. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 0.98. CTO Realty Growth has a 12-month low of $15.64 and a 12-month high of $21.15.

CTO Realty Growth (NYSE:CTO) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.27). The company had revenue of $31.81 million during the quarter, compared to the consensus estimate of $30.15 million. CTO Realty Growth had a net margin of 14.52% and a return on equity of 3.55%. During the same period in the previous year, the business earned $0.48 earnings per share. As a group, analysts predict that CTO Realty Growth will post 1.78 EPS for the current year.

CTO Realty Growth Announces Dividend

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

Insider Transactions at CTO Realty Growth

In related news, Director Christopher W. Haga sold 3,000 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $19.45, for a total transaction of $58,350.00. Following the completion of the sale, the director now owns 44,988 shares in the company, valued at approximately $875,016.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On CTO Realty Growth

Several institutional investors have recently modified their holdings of CTO. Farmers & Merchants Investments Inc. bought a new stake in shares of CTO Realty Growth in the 2nd quarter valued at approximately $26,000. EntryPoint Capital LLC bought a new stake in shares of CTO Realty Growth during the 1st quarter worth approximately $31,000. Signaturefd LLC lifted its stake in shares of CTO Realty Growth by 45.4% during the 3rd quarter. Signaturefd LLC now owns 1,785 shares of the company’s stock worth $34,000 after acquiring an additional 557 shares during the last quarter. Copeland Capital Management LLC bought a new stake in shares of CTO Realty Growth during the 3rd quarter worth approximately $49,000. Finally, CWM LLC lifted its stake in shares of CTO Realty Growth by 17.5% during the 2nd quarter. CWM LLC now owns 4,527 shares of the company’s stock worth $79,000 after acquiring an additional 673 shares during the last quarter. 67.18% of the stock is owned by 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.