CTO Realty Growth (NYSE:CTO) Releases FY 2024 Earnings Guidance

CTO Realty Growth (NYSE:CTO) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.830-1.870 for the period, compared to the consensus earnings per share estimate of 1.840. The company issued revenue guidance of -.

CTO Realty Growth Price Performance

Shares of CTO traded down $0.16 during mid-day trading on Friday, hitting $19.56. 441,511 shares of the company were exchanged, compared to its average volume of 232,849. The stock has a market cap of $448.82 million, a price-to-earnings ratio of 35.56 and a beta of 0.76. CTO Realty Growth has a 1-year low of $15.64 and a 1-year high of $21.15. The company has a 50 day moving average of $19.13 and a 200-day moving average of $18.34. The company has a debt-to-equity ratio of 0.98, a quick ratio of 3.42 and a current ratio of 3.42.

CTO Realty Growth (NYSE:CTO) last announced its earnings results on Thursday, October 24th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.27). The firm had revenue of $31.81 million for the quarter, compared to analyst estimates of $30.15 million. CTO Realty Growth had a net margin of 14.52% and a return on equity of 3.55%. During the same period in the previous year, the company earned $0.48 EPS. Analysts expect that CTO Realty Growth will post 1.78 EPS for the current fiscal year.

CTO Realty Growth Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 12th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.77%. The ex-dividend date was Thursday, September 12th. CTO Realty Growth’s dividend payout ratio (DPR) is presently 276.36%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CTO. Alliance Global Partners upgraded CTO Realty Growth to a “strong-buy” rating in a report on Friday, July 26th. Raymond James upped their price target on CTO Realty Growth from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $20.33.

Insider Activity at CTO Realty Growth

In related news, Director Christopher W. Haga sold 3,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $19.45, for a total value of $58,350.00. Following the sale, the director now owns 44,988 shares in the company, valued at approximately $875,016.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.00% of the stock is owned by insiders.

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.