Longboard Asset Management LP Acquires New Holdings in CTO Realty Growth, Inc. (NYSE:CTO)

Longboard Asset Management LP bought a new stake in CTO Realty Growth, Inc. (NYSE:CTO) in the 4th quarter, HoldingsChannel reports. The fund bought 10,758 shares of the company’s stock, valued at approximately $212,000.

Other institutional investors also recently bought and sold shares of the company. Signaturefd LLC boosted its stake in CTO Realty Growth by 45.4% in the third quarter. Signaturefd LLC now owns 1,785 shares of the company’s stock valued at $34,000 after acquiring an additional 557 shares in the last quarter. Copeland Capital Management LLC acquired a new stake in shares of CTO Realty Growth during the third quarter worth $49,000. Point72 DIFC Ltd acquired a new stake in shares of CTO Realty Growth during the third quarter worth $94,000. CWM LLC lifted its stake in shares of CTO Realty Growth by 65.6% during the third quarter. CWM LLC now owns 7,497 shares of the company’s stock worth $143,000 after buying an additional 2,970 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of CTO Realty Growth during the third quarter worth $176,000. 67.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CTO shares. Raymond James upgraded shares of CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $22.00 to $24.00 in a research note on Wednesday, October 30th. StockNews.com downgraded shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Monday, October 28th.

CTO Realty Growth Stock Up 0.7 %

CTO Realty Growth stock opened at $19.90 on Wednesday. The firm has a market cap of $596.46 million, a price-to-earnings ratio of 33.73 and a beta of 0.78. CTO Realty Growth, Inc. has a 52 week low of $16.16 and a 52 week high of $21.15. The business’s 50-day moving average price is $19.78 and its 200 day moving average price is $19.51. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.88.

CTO Realty Growth Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, December 12th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.64%. The ex-dividend date was Thursday, December 12th. CTO Realty Growth’s dividend payout ratio (DPR) is 257.63%.

Insider Buying and Selling

In related news, CEO John P. Albright sold 29,488 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.71, for a total transaction of $610,696.48. Following the sale, the chief executive officer now directly owns 570,554 shares of the company’s stock, valued at $11,816,173.34. This trade represents a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.30% of the stock is owned by corporate insiders.

CTO Realty Growth Company Profile

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.