Polymer Capital Management US LLC Invests $247,000 in CTO Realty Growth, Inc. (NYSE:CTO)

Polymer Capital Management US LLC bought a new stake in CTO Realty Growth, Inc. (NYSE:CTO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 12,528 shares of the company’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTO. Vanguard Group Inc. raised its stake in CTO Realty Growth by 118.6% in the fourth quarter. Vanguard Group Inc. now owns 2,514,789 shares of the company’s stock valued at $49,566,000 after buying an additional 1,364,637 shares during the period. Geode Capital Management LLC raised its stake in CTO Realty Growth by 30.9% in the 4th quarter. Geode Capital Management LLC now owns 679,893 shares of the company’s stock valued at $13,403,000 after acquiring an additional 160,593 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in CTO Realty Growth by 143.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 392,102 shares of the company’s stock valued at $7,728,000 after purchasing an additional 230,811 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in CTO Realty Growth during the fourth quarter worth $4,673,000. Finally, Franklin Resources Inc. boosted its position in CTO Realty Growth by 9.8% during the third quarter. Franklin Resources Inc. now owns 209,511 shares of the company’s stock worth $3,972,000 after purchasing an additional 18,743 shares during the period. Institutional investors own 67.18% of the company’s stock.

CTO Realty Growth Trading Down 4.4 %

CTO stock opened at $17.35 on Tuesday. CTO Realty Growth, Inc. has a 52 week low of $16.51 and a 52 week high of $21.15. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.96 and a current ratio of 3.96. The company’s 50-day simple moving average is $19.33 and its 200 day simple moving average is $19.50. The company has a market capitalization of $552.57 million, a PE ratio of -78.88 and a beta of 0.61.

CTO Realty Growth (NYSE:CTO) last announced its earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.01 by $0.48. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. The company had revenue of $35.74 million for the quarter, compared to analysts’ expectations of $33.39 million. As a group, sell-side analysts anticipate that CTO Realty Growth, Inc. will post 1.92 earnings per share for the current year.

CTO Realty Growth Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 13th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.76%. CTO Realty Growth’s payout ratio is -690.91%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CTO. B. Riley restated a “buy” rating and set a $23.00 target price (up previously from $22.50) on shares of CTO Realty Growth in a research note on Wednesday, March 5th. StockNews.com downgraded shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. One research analyst has rated the stock with a sell rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $21.50.

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.