CTO Realty Growth, Inc. (NYSE:CTO) Short Interest Update

CTO Realty Growth, Inc. (NYSE:CTO) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 1,220,000 shares, a growth of 56.1% from the October 15th total of 781,400 shares. Based on an average daily volume of 508,100 shares, the days-to-cover ratio is currently 2.4 days.

Insider Buying and Selling at CTO Realty Growth

In other news, CEO John P. Albright sold 29,488 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $20.71, for a total value of $610,696.48. Following the transaction, the chief executive officer now owns 570,554 shares of the company’s stock, valued at approximately $11,816,173.34. The trade was a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher W. Haga sold 3,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $19.19, for a total transaction of $57,570.00. Following the completion of the transaction, the director now directly owns 44,988 shares in the company, valued at $863,319.72. This trade represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,488 shares of company stock valued at $726,616 over the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CTO Realty Growth

Hedge funds and other institutional investors have recently made changes to their positions in the company. Farmers & Merchants Investments Inc. purchased a new position in shares of CTO Realty Growth during the 2nd quarter valued at approximately $26,000. Signaturefd LLC increased its position in shares of CTO Realty Growth by 45.4% during the 3rd quarter. Signaturefd LLC now owns 1,785 shares of the company’s stock worth $34,000 after purchasing an additional 557 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of CTO Realty Growth during the 1st quarter worth about $31,000. Copeland Capital Management LLC acquired a new stake in shares of CTO Realty Growth during the 3rd quarter worth about $49,000. Finally, CWM LLC grew its position in CTO Realty Growth by 17.5% in the 2nd quarter. CWM LLC now owns 4,527 shares of the company’s stock valued at $79,000 after acquiring an additional 673 shares in the last quarter. Institutional investors and hedge funds own 67.18% of the company’s stock.

CTO Realty Growth Stock Performance

CTO opened at $19.53 on Friday. CTO Realty Growth has a 52-week low of $16.16 and a 52-week high of $21.15. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.88. The company has a market cap of $585.43 million, a P/E ratio of 33.10 and a beta of 0.76. The firm’s 50-day moving average price is $19.35 and its 200-day moving average price is $18.63.

CTO Realty Growth (NYSE:CTO) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.27). CTO Realty Growth had a return on equity of 4.04% and a net margin of 17.10%. The business had revenue of $31.81 million during the quarter, compared to analyst estimates of $30.15 million. During the same quarter last year, the company posted $0.48 EPS. As a group, equities analysts anticipate that CTO Realty Growth will post 1.79 EPS for the current fiscal year.

CTO Realty Growth Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 12th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.52 annualized dividend and a yield of 7.78%. CTO Realty Growth’s dividend payout ratio (DPR) is presently 257.63%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CTO. Alliance Global Partners upgraded shares of CTO Realty Growth to a “strong-buy” rating in a research report on Friday, July 26th. Raymond James raised shares of CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $22.00 to $24.00 in a research note on Wednesday, October 30th. Finally, StockNews.com lowered shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $21.00.

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.