Crossingbridge Advisors LLC Buys Shares of 40,000 CTO Realty Growth, Inc. (NYSE:CTO)

Crossingbridge Advisors LLC purchased a new position in shares of CTO Realty Growth, Inc. (NYSE:CTO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 40,000 shares of the company’s stock, valued at approximately $788,000. Crossingbridge Advisors LLC owned about 0.13% of CTO Realty Growth as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CTO. Summit Investment Advisors Inc. increased its stake in CTO Realty Growth by 39.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,020 shares of the company’s stock valued at $60,000 after acquiring an additional 852 shares during the period. NewEdge Advisors LLC grew its holdings in shares of CTO Realty Growth by 300.0% during the 4th quarter. NewEdge Advisors LLC now owns 4,000 shares of the company’s stock worth $79,000 after purchasing an additional 3,000 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of CTO Realty Growth by 32.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 8,666 shares of the company’s stock valued at $171,000 after purchasing an additional 2,118 shares during the period. Cornerstone Investment Partners LLC acquired a new position in shares of CTO Realty Growth in the fourth quarter valued at $201,000. Finally, Resona Asset Management Co. Ltd. bought a new position in CTO Realty Growth in the fourth quarter worth $203,000. 67.18% of the stock is owned by institutional investors.

CTO Realty Growth Stock Performance

CTO Realty Growth stock opened at $17.97 on Friday. The firm has a market capitalization of $572.35 million, a P/E ratio of -81.70 and a beta of 0.61. The stock has a fifty day moving average price of $18.59 and a two-hundred day moving average price of $19.36. CTO Realty Growth, Inc. has a 52-week low of $16.12 and a 52-week 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.

CTO Realty Growth (NYSE:CTO) last announced its earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.48. The business had revenue of $35.74 million during 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%. As a group, analysts anticipate that CTO Realty Growth, Inc. will post 1.92 EPS for the current fiscal year.

CTO Realty Growth Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 13th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a yield of 8.46%. CTO Realty Growth’s dividend payout ratio (DPR) is presently -690.91%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CTO shares. StockNews.com lowered shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. B. Riley reissued a “buy” rating and issued a $23.00 target price (up previously from $22.50) on shares of CTO Realty Growth in a research note on Wednesday, March 5th. 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 company. According to data from MarketBeat.com, the company has a consensus 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.