CTO Realty Growth (NYSE:CTO) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of CTO Realty Growth (NYSE:CTO) from a hold rating to a sell rating in a report published on Saturday morning,Wall Street Zen reports.

Other analysts have also issued reports about the company. Huntington began coverage on CTO Realty Growth in a research note on Tuesday, August 11th. They issued an “outperform” rating and a $24.00 target price for the company. JonesTrading reiterated a “buy” rating and set a $24.00 price target on shares of CTO Realty Growth in a research report on Thursday, October 1st. Zacks Research downgraded shares of CTO Realty Growth from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Huntington Sec began coverage on shares of CTO Realty Growth in a research report on Tuesday, October 27th. They issued a “strong-buy” rating for the company. Finally, Weiss Ratings downgraded shares of CTO Realty Growth from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, CTO Realty Growth currently has a consensus rating of “Buy” and an average target price of $24.50.

CTO Realty Growth Price Performance

Shares of CTO Realty Growth stock opened at $20.12 on Friday. The stock has a market capitalization of $779.97 million, a price-to-earnings ratio of 17.65 and a beta of 0.60. The firm’s 50-day moving average price is $20.62 and its two-hundred day moving average price is $20.22. The company has a current ratio of 6.06, a quick ratio of 8.69 and a debt-to-equity ratio of 1.05. CTO Realty Growth has a 1-year low of $16.50 and a 1-year high of $22.71.

CTO Realty Growth (NYSE:CTO) last posted its earnings results on Tuesday, October 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.39). The firm had revenue of $46.91 million during the quarter, compared to the consensus estimate of $45.21 million. CTO Realty Growth had a net margin of 26.12% and a return on equity of 7.15%. On average, equities analysts predict that CTO Realty Growth will post 2.11 earnings per share for the current fiscal year.

CTO Realty Growth Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 10th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend was Thursday, September 10th. CTO Realty Growth’s dividend payout ratio (DPR) is presently 133.33%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of CTO Realty Growth by 29.9% during the third quarter. GAMMA Investing LLC now owns 2,868 shares of the company’s stock worth $59,000 after purchasing an additional 660 shares during the period. Triumph Capital Management grew its position in shares of CTO Realty Growth by 37.2% in the 3rd quarter. Triumph Capital Management now owns 3,320 shares of the company’s stock valued at $68,000 after purchasing an additional 900 shares during the period. Legal & General Group Plc acquired a new position in shares of CTO Realty Growth in the 2nd quarter valued at approximately $70,000. Integrated Wealth Concepts LLC bought a new stake in CTO Realty Growth during the 2nd quarter worth approximately $101,000. Finally, Virtus Advisers LLC bought a new stake in CTO Realty Growth during the 2nd quarter worth approximately $120,000. 67.18% of the stock is owned by institutional investors and hedge funds.

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.