CTO Realty Growth (NYSE:CTO) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of CTO Realty Growth (NYSE:CTO) from a hold rating to a sell rating in a report issued on Saturday.

CTO Realty Growth Price Performance

Shares of NYSE CTO opened at $19.05 on Friday. CTO Realty Growth has a 1 year low of $16.33 and a 1 year high of $21.15. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.96 and a quick ratio of 3.96. The company’s 50-day moving average is $19.64 and its 200 day moving average is $19.54. The stock has a market capitalization of $606.61 million, a P/E ratio of -86.59 and a beta of 0.78.

CTO Realty Growth (NYSE:CTO) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.48. The business had revenue of $35.74 million for the quarter, compared to analysts’ expectations of $33.39 million. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. On average, sell-side analysts expect that CTO Realty Growth will post 1.92 earnings per share for the current year.

CTO Realty Growth Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 13th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.98%. The ex-dividend date of this dividend is Thursday, March 13th. CTO Realty Growth’s dividend payout ratio (DPR) is presently -690.91%.

Institutional Investors Weigh In On CTO Realty Growth

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in CTO Realty Growth by 118.6% in the fourth quarter. Vanguard Group Inc. now owns 2,514,789 shares of the company’s stock worth $49,566,000 after purchasing an additional 1,364,637 shares during the period. Heitman Real Estate Securities LLC lifted its stake in shares of CTO Realty Growth by 26.2% in the third quarter. Heitman Real Estate Securities LLC now owns 989,073 shares of the company’s stock worth $18,812,000 after buying an additional 205,383 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of CTO Realty Growth by 30.9% in the fourth quarter. Geode Capital Management LLC now owns 679,893 shares of the company’s stock worth $13,403,000 after buying an additional 160,593 shares in the last quarter. Two Sigma Advisers LP lifted its stake in shares of CTO Realty Growth by 29.1% in the fourth quarter. Two Sigma Advisers LP now owns 509,701 shares of the company’s stock worth $10,046,000 after buying an additional 115,000 shares in the last quarter. Finally, Invesco Ltd. lifted its position in CTO Realty Growth by 681.9% during the fourth quarter. Invesco Ltd. now owns 468,556 shares of the company’s stock valued at $9,235,000 after purchasing an additional 408,632 shares during the period. Hedge funds and other institutional investors own 67.18% of the company’s stock.

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.