CTO Realty Growth (NYSE:CTO) Stock Price Breaks Above Two Hundred Day Moving Average – Should You Sell?

Shares of CTO Realty Growth, Inc. (NYSE:CTO) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $20.24 and traded as high as $20.60. CTO Realty Growth shares last traded at $20.4640, with a volume of 380,114 shares trading hands.

Analyst Upgrades and Downgrades

CTO has been the topic of several recent research reports. Zacks Research lowered CTO Realty Growth from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. JonesTrading reaffirmed a “buy” rating and issued a $24.00 price objective on shares of CTO Realty Growth in a research report on Thursday, October 1st. Wall Street Zen lowered shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Alliance Global Partners reissued a “buy” rating on shares of CTO Realty Growth in a research report on Wednesday, July 29th. Finally, Cantor Fitzgerald reduced their target price on shares of CTO Realty Growth from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, CTO Realty Growth presently has a consensus rating of “Buy” and an average target price of $24.00.

CTO Realty Growth Price Performance

The business has a fifty day moving average of $20.49 and a 200 day moving average of $20.26. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.06 and a quick ratio of 6.06. The stock has a market cap of $784.50 million, a PE ratio of 17.75 and a beta of 0.63.

CTO Realty Growth (NYSE:CTO) last posted its quarterly earnings data on Tuesday, October 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.39). The business had revenue of $46.91 million for the quarter, compared to analysts’ expectations of $45.21 million. CTO Realty Growth had a return on equity of 7.15% and a net margin of 26.12%. Sell-side analysts anticipate that CTO Realty Growth, Inc. will post 2.11 earnings per share for the current year.

CTO Realty Growth Announces Dividend

The company 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. The ex-dividend date was Thursday, September 10th. This represents a $1.52 annualized dividend and a yield of 7.5%. CTO Realty Growth’s dividend payout ratio (DPR) is 133.33%.

Institutional Trading of CTO Realty Growth

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of CTO Realty Growth by 29.9% in the third quarter. GAMMA Investing LLC now owns 2,868 shares of the company’s stock valued at $59,000 after purchasing an additional 660 shares during the period. Triumph Capital Management raised its holdings in shares of CTO Realty Growth by 37.2% during the third quarter. Triumph Capital Management now owns 3,320 shares of the company’s stock valued at $68,000 after buying an additional 900 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of CTO Realty Growth by 8.1% during the third quarter. State of Alaska Department of Revenue now owns 19,374 shares of the company’s stock valued at $396,000 after buying an additional 1,456 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of CTO Realty Growth by 0.9% during the first quarter. Renaissance Technologies LLC now owns 212,300 shares of the company’s stock worth $3,925,000 after buying an additional 1,799 shares during the period. Finally, Legal & General Group Plc acquired a new position in shares of CTO Realty Growth during the second quarter worth approximately $70,000. 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.