CTO Realty Growth (NYSE:CTO) Price Target Lowered to $22.00 at Raymond James

CTO Realty Growth (NYSE:CTO) had its price target decreased by Raymond James from $24.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

A number of other equities analysts have also recently commented on CTO. B. Riley reissued a “buy” rating and issued a $23.00 price objective (up from $22.50) on shares of CTO Realty Growth in a research note on Wednesday, March 5th. Wall Street Zen cut shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Tuesday, May 13th.

CTO Realty Growth Stock Performance

CTO opened at $17.86 on Friday. The stock has a market capitalization of $588.28 million, a price-to-earnings ratio of -81.19 and a beta of 0.76. The company has a fifty day moving average of $18.21 and a 200 day moving average of $19.18. CTO Realty Growth has a fifty-two week low of $16.12 and a fifty-two 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.

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

Hedge Funds Weigh In On CTO Realty Growth

Institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its stake in shares of CTO Realty Growth by 4.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 22,290 shares of the company’s stock worth $439,000 after buying an additional 993 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of CTO Realty Growth in the 4th quarter worth about $406,000. Principal Financial Group Inc. lifted its holdings in shares of CTO Realty Growth by 13.7% in the 4th quarter. Principal Financial Group Inc. now owns 15,139 shares of the company’s stock worth $298,000 after acquiring an additional 1,821 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of CTO Realty Growth in the 4th quarter worth about $3,787,000. Finally, Invesco Ltd. lifted its holdings in shares of CTO Realty Growth by 681.9% in the 4th quarter. Invesco Ltd. now owns 468,556 shares of the company’s stock worth $9,235,000 after acquiring an additional 408,632 shares during the last quarter. 67.18% of the stock is owned by hedge funds and other institutional investors.

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.