CTO Realty Growth, Inc. (NYSE:CTO) Stake Lessened by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in CTO Realty Growth, Inc. (NYSE:CTO) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,840 shares of the company’s stock after selling 2,642 shares during the period. Russell Investments Group Ltd. owned 1.56% of CTO Realty Growth worth $9,241,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in shares of CTO Realty Growth by 20.2% in the 4th quarter. Wells Fargo & Company MN now owns 94,011 shares of the company’s stock valued at $1,853,000 after purchasing an additional 15,788 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new stake in CTO Realty Growth in the fourth quarter valued at about $203,000. Geode Capital Management LLC raised its stake in CTO Realty Growth by 30.9% during the fourth quarter. Geode Capital Management LLC now owns 679,893 shares of the company’s stock valued at $13,403,000 after buying an additional 160,593 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in CTO Realty Growth by 29.1% during the 4th quarter. Alliancebernstein L.P. now owns 23,598 shares of the company’s stock worth $465,000 after buying an additional 5,320 shares during the last quarter. Finally, Prevail Innovative Wealth Advisors LLC grew its position in shares of CTO Realty Growth by 130.3% in the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 203,541 shares of the company’s stock worth $4,012,000 after acquiring an additional 115,146 shares in the last quarter. 67.18% of the stock is currently owned by institutional investors.

CTO Realty Growth Stock Performance

Shares of CTO opened at $17.45 on Friday. The firm has a fifty day moving average of $19.03 and a 200-day moving average of $19.42. The company has a market cap of $555.56 million, a price-to-earnings ratio of -79.30 and a beta of 0.61. 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, Inc. has a 1 year low of $16.12 and a 1 year high of $21.15.

CTO Realty Growth (NYSE:CTO) last posted its earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.48. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. The firm had revenue of $35.74 million during the quarter, compared to analyst estimates of $33.39 million. As a group, equities analysts anticipate that CTO Realty Growth, Inc. will post 1.92 earnings per share for the current year.

CTO Realty Growth Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 13th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 8.71%. The ex-dividend date of this dividend was Thursday, March 13th. CTO Realty Growth’s payout ratio is currently -690.91%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CTO shares. B. Riley reissued a “buy” rating and set a $23.00 target price (up from $22.50) on shares of CTO Realty Growth in a report on Wednesday, March 5th. StockNews.com downgraded shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. One research analyst has rated the stock with a sell rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $22.00.

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.