EMC Capital Management Sells 8,896 Shares of CTO Realty Growth, Inc. $CTO

EMC Capital Management reduced its stake in shares of CTO Realty Growth, Inc. (NYSE:CTO) by 58.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,416 shares of the company’s stock after selling 8,896 shares during the quarter. EMC Capital Management’s holdings in CTO Realty Growth were worth $111,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CTO. Vanguard Group Inc. boosted its stake in CTO Realty Growth by 13.0% during the 1st quarter. Vanguard Group Inc. now owns 2,842,294 shares of the company’s stock worth $54,885,000 after acquiring an additional 327,505 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in CTO Realty Growth by 1,861.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 320,899 shares of the company’s stock worth $6,197,000 after purchasing an additional 304,536 shares during the period. LSV Asset Management boosted its position in shares of CTO Realty Growth by 51.7% during the first quarter. LSV Asset Management now owns 578,917 shares of the company’s stock worth $11,179,000 after purchasing an additional 197,337 shares in the last quarter. Strs Ohio bought a new position in shares of CTO Realty Growth during the first quarter worth $2,860,000. Finally, Nuveen LLC acquired a new position in shares of CTO Realty Growth in the 1st quarter valued at $2,646,000. 67.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CTO Realty Growth

In other CTO Realty Growth news, CEO John P. Albright bought 2,000 shares of CTO Realty Growth stock in a transaction that occurred on Thursday, September 11th. The stock was acquired at an average price of $16.38 per share, for a total transaction of $32,760.00. Following the completion of the acquisition, the chief executive officer owned 634,547 shares of the company’s stock, valued at $10,393,879.86. This trade represents a 0.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 8,950 shares of company stock valued at $147,739 over the last 90 days. Insiders own 4.00% of the company’s stock.

CTO Realty Growth Price Performance

Shares of NYSE CTO opened at $17.07 on Thursday. The company has a fifty day moving average price of $16.39 and a 200 day moving average price of $17.12. The firm has a market cap of $552.69 million, a PE ratio of -13.23 and a beta of 0.76. The company has a current ratio of 3.96, a quick ratio of 4.94 and a debt-to-equity ratio of 1.08. CTO Realty Growth, Inc. has a 1-year low of $15.06 and a 1-year high of $20.88.

CTO Realty Growth (NYSE:CTO) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.46). The firm had revenue of $34.62 million during the quarter, compared to the consensus estimate of $37.83 million. CTO Realty Growth had a negative net margin of 22.77% and a negative return on equity of 5.72%. CTO Realty Growth has set its FY 2025 guidance at 1.840-1.87 EPS. Research analysts predict that CTO Realty Growth, Inc. will post 1.92 earnings per share for the current fiscal year.

CTO Realty Growth announced that its Board of Directors has approved a stock repurchase program on Wednesday, September 24th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 1.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

CTO Realty Growth Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Thursday, December 11th will be issued a $0.38 dividend. The ex-dividend date is Thursday, December 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.9%. CTO Realty Growth’s dividend payout ratio (DPR) is -117.83%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CTO shares. Jones Trading reaffirmed a “buy” rating and set a $21.00 price objective on shares of CTO Realty Growth in a research note on Wednesday, October 29th. Weiss Ratings restated a “sell (d+)” rating on shares of CTO Realty Growth in a report on Wednesday, October 8th. Finally, Zacks Research raised CTO Realty Growth to a “strong-buy” rating in a research report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CTO Realty Growth presently has an average rating of “Buy” and an average target price of $22.00.

CTO Realty Growth 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.