CTO Realty Growth, Inc. (CTO) To Go Ex-Dividend on June 12th

CTO Realty Growth, Inc. (NYSE:CTO) declared a quarterly dividend on Tuesday, May 27th, RTT News reports. Investors of record on Thursday, June 12th will be given a dividend of 0.38 per share on Monday, June 30th. This represents a $1.52 dividend on an annualized basis and a yield of 8.05%. The ex-dividend date is Thursday, June 12th.

CTO Realty Growth has a payout ratio of 633.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect CTO Realty Growth to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 79.6%.

CTO Realty Growth Stock Performance

CTO stock opened at $18.89 on Tuesday. 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 business’s fifty day simple moving average is $18.04 and its two-hundred day simple moving average is $19.05. CTO Realty Growth has a twelve month low of $16.12 and a twelve month high of $21.15. The firm has a market cap of $622.14 million, a price-to-earnings ratio of -85.86 and a beta of 0.75.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CTO. Wall Street Zen lowered CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Tuesday, May 13th. B. Riley reiterated 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. Finally, Raymond James reiterated a “strong-buy” rating on shares of CTO Realty Growth in a research note on Friday, May 23rd.

Hedge Funds Weigh In On CTO Realty Growth

An institutional investor recently bought a new position in CTO Realty Growth stock. Jane Street Group LLC bought a new stake in CTO Realty Growth, Inc. (NYSE:CTO) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 89,286 shares of the company’s stock, valued at approximately $1,724,000. Jane Street Group LLC owned about 0.27% of CTO Realty Growth at the end of the most recent reporting period. 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.