Insider Selling: CTO Realty Growth, Inc. (NYSE:CTO) CEO Sells 29,488 Shares of Stock

CTO Realty Growth, Inc. (NYSE:CTO) CEO John P. Albright sold 29,488 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $20.71, for a total value of $610,696.48. Following the transaction, the chief executive officer now directly owns 570,554 shares of the company’s stock, valued at approximately $11,816,173.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

CTO Realty Growth Trading Down 3.4 %

Shares of NYSE CTO opened at $19.95 on Wednesday. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.88. CTO Realty Growth, Inc. has a 12 month low of $16.15 and a 12 month high of $21.15. The company has a market cap of $597.95 million, a price-to-earnings ratio of 33.81 and a beta of 0.76. The business has a fifty day simple moving average of $19.33 and a 200-day simple moving average of $18.60.

CTO Realty Growth (NYSE:CTO) last released its earnings results on Thursday, October 24th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.27). The firm had revenue of $31.81 million during the quarter, compared to analysts’ expectations of $30.15 million. CTO Realty Growth had a return on equity of 4.04% and a net margin of 17.10%. During the same period last year, the business earned $0.48 earnings per share. Sell-side analysts predict that CTO Realty Growth, Inc. will post 1.79 EPS for the current year.

CTO Realty Growth Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 12th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.62%. The ex-dividend date was Thursday, September 12th. CTO Realty Growth’s payout ratio is 257.63%.

Institutional Investors Weigh In On CTO Realty Growth

Institutional investors have recently bought and sold shares of the business. Farmers & Merchants Investments Inc. purchased a new stake in shares of CTO Realty Growth in the second quarter worth approximately $26,000. EntryPoint Capital LLC purchased a new position in shares of CTO Realty Growth during the 1st quarter valued at $31,000. Signaturefd LLC increased its stake in shares of CTO Realty Growth by 45.4% in the third 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 purchased a new stake in shares of CTO Realty Growth during the third quarter worth $49,000. Finally, CWM LLC boosted its position in CTO Realty Growth by 17.5% during the second quarter. CWM LLC now owns 4,527 shares of the company’s stock valued at $79,000 after purchasing an additional 673 shares during the last quarter. 67.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Alliance Global Partners raised CTO Realty Growth to a “strong-buy” rating in a research note on Friday, July 26th. StockNews.com downgraded shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Finally, Raymond James raised shares of CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $22.00 to $24.00 in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $21.00.

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.