CTO Realty Growth (NYSE:CTO) Issues Quarterly Earnings Results

CTO Realty Growth (NYSE:CTO) posted its quarterly earnings results on Tuesday. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.39), FiscalAI reports. The business had revenue of $46.91 million for the quarter, compared to analyst estimates of $45.21 million.

CTO Realty Growth Stock Performance

NYSE:CTO opened at $19.48 on Wednesday. The firm has a market cap of $730.40 million, a P/E ratio of 14.33 and a beta of 0.60. CTO Realty Growth has a fifty-two week low of $16.17 and a fifty-two week high of $22.71. The firm has a 50-day simple moving average of $20.80 and a two-hundred day simple moving average of $20.19.

CTO Realty Growth Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 10th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend was Thursday, September 10th. CTO Realty Growth’s dividend payout ratio is 111.76%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Cantor Fitzgerald increased their price objective on CTO Realty Growth from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Huntington began coverage on shares of CTO Realty Growth in a report on Tuesday, August 11th. They set an “outperform” rating and a $24.00 price target for the company. Zacks Research cut shares of CTO Realty Growth from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Weiss Ratings lowered shares of CTO Realty Growth from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 25th. Finally, JonesTrading restated a “buy” rating and issued a $24.00 price objective on shares of CTO Realty Growth in a research report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $24.50.

About CTO Realty Growth

CTO Realty Growth, Inc is an internally managed real estate investment trust (REIT) that owns, manages and invests in income-producing commercial real estate. The company’s portfolio is focused primarily on open-air shopping centers and other retail properties, including locations anchored by grocery stores, home-improvement retailers and other necessity-based tenants.

The company also makes structured investments in commercial real estate and may pursue additional property investments in select markets.