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

Longboard Asset Management LP purchased a new stake in CTO Realty Growth, Inc. (NYSE:CTO) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 10,758 shares of the company’s stock, valued at approximately $212,000.

A number of other institutional investors have also recently made changes to their positions in the business. Heitman Real Estate Securities LLC raised its position in CTO Realty Growth by 26.2% in the 3rd quarter. Heitman Real Estate Securities LLC now owns 989,073 shares of the company’s stock worth $18,812,000 after purchasing an additional 205,383 shares during the period. Charles Schwab Investment Management Inc. raised its position in CTO Realty Growth by 162.9% in the 3rd 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 period. Los Angeles Capital Management LLC purchased a new stake in CTO Realty Growth in the 3rd quarter worth about $1,794,000. Atom Investors LP purchased a new stake in CTO Realty Growth in the 3rd quarter worth about $1,149,000. Finally, AQR Capital Management LLC raised its position in CTO Realty Growth by 104.7% in the 2nd quarter. AQR Capital Management LLC now owns 103,805 shares of the company’s stock worth $1,812,000 after purchasing an additional 53,083 shares during the period. Institutional investors own 67.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Raymond James raised shares of CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $22.00 to $24.00 in a research report on Wednesday, October 30th.

CTO Realty Growth Stock Performance

Shares of NYSE:CTO opened at $19.90 on Wednesday. The firm has a market cap of $596.46 million, a PE ratio of 33.73 and a beta of 0.78. The firm’s 50 day simple moving average is $19.78 and its 200-day simple moving average is $19.51. CTO Realty Growth, Inc. has a one year low of $16.16 and a one year high of $21.15. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.96 and a current ratio of 3.96.

CTO Realty Growth Dividend Announcement

The firm also recently disclosed 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 payout ratio is 257.63%.

Insider Activity at CTO Realty Growth

In related news, CEO John P. Albright sold 29,488 shares of CTO Realty Growth stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $20.71, for a total transaction of $610,696.48. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available through this link. 5.30% of the stock is currently owned by corporate 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.