CTO Realty Growth’s (CTO) “Buy” Rating Reiterated at B. Riley

CTO Realty Growth (NYSE:CTO)‘s stock had its “buy” rating reissued by analysts at B. Riley in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $23.00 price target on the stock, up from their previous price target of $22.50. B. Riley’s target price would suggest a potential upside of 21.34% from the stock’s previous close.

Separately, StockNews.com lowered CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $21.50.

CTO Realty Growth Stock Performance

NYSE:CTO traded up $0.11 during mid-day trading on Wednesday, hitting $18.96. 67,677 shares of the company traded hands, compared to its average volume of 293,043. 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 stock’s fifty day moving average price is $19.62 and its 200-day moving average price is $19.54. The firm has a market cap of $603.58 million, a price-to-earnings ratio of -86.16 and a beta of 0.78. CTO Realty Growth has a one year low of $16.33 and a one year high of $21.15.

CTO Realty Growth (NYSE:CTO) last released its earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.48. The company 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%. Research analysts anticipate that CTO Realty Growth will post 1.92 earnings per share for the current fiscal year.

Institutional Trading of CTO Realty Growth

Several hedge funds have recently modified their holdings of CTO. Charles Schwab Investment Management Inc. increased its position in CTO Realty Growth by 162.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 161,291 shares of the company’s stock worth $3,068,000 after purchasing an additional 99,943 shares during the last quarter. Entropy Technologies LP bought a new position in shares of CTO Realty Growth in the 4th quarter valued at about $406,000. Barclays PLC grew its position in CTO Realty Growth by 251.1% in the third quarter. Barclays PLC now owns 55,911 shares of the company’s stock worth $1,063,000 after acquiring an additional 39,986 shares in the last quarter. FMR LLC increased its stake in CTO Realty Growth by 461.4% during the third quarter. FMR LLC now owns 13,608 shares of the company’s stock worth $259,000 after acquiring an additional 11,184 shares during the last quarter. Finally, Atom Investors LP purchased a new stake in CTO Realty Growth during the third quarter valued at approximately $1,149,000. 67.18% of the stock is owned by hedge funds and other institutional investors.

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.