CTO Realty Growth, Inc. (NYSE:CTO) Director George R. Brokaw Acquires 2,000 Shares

CTO Realty Growth, Inc. (NYSE:CTO) Director George R. Brokaw bought 2,000 shares of the company’s stock in a transaction dated Thursday, June 26th. The shares were purchased at an average cost of $16.94 per share, with a total value of $33,880.00. Following the acquisition, the director now directly owns 91,701 shares of the company’s stock, valued at approximately $1,553,414.94. This represents a 2.23% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CTO Realty Growth Stock Up 0.1%

CTO stock opened at $17.33 on Friday. The company has a market cap of $570.69 million, a PE ratio of -42.26 and a beta of 0.75. The business has a 50-day simple moving average of $18.12 and a 200 day simple moving average of $18.85. CTO Realty Growth, Inc. has a 52 week low of $16.12 and a 52 week high of $21.15. The company has a quick ratio of 5.54, a current ratio of 5.54 and a debt-to-equity ratio of 1.01.

CTO Realty Growth Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, June 12th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.77%. The ex-dividend date is Thursday, June 12th. CTO Realty Growth’s dividend payout ratio (DPR) is presently -370.73%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Tuesday, May 13th. Raymond James Financial reissued a “strong-buy” rating on shares of CTO Realty Growth in a report on Friday, May 23rd. Finally, B. Riley reissued a “buy” rating and set a $23.00 target price (up previously from $22.50) on shares of CTO Realty Growth in a report on Wednesday, March 5th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Summit Investment Advisors Inc. raised its stake in CTO Realty Growth by 39.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,020 shares of the company’s stock valued at $60,000 after purchasing an additional 852 shares in the last quarter. Principal Financial Group Inc. raised its stake in CTO Realty Growth by 5.7% during the first quarter. Principal Financial Group Inc. now owns 15,998 shares of the company’s stock worth $309,000 after acquiring an additional 859 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in CTO Realty Growth by 4.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 22,290 shares of the company’s stock worth $439,000 after acquiring an additional 993 shares in the last quarter. Resona Asset Management Co. Ltd. raised its stake in CTO Realty Growth by 9.7% during the first quarter. Resona Asset Management Co. Ltd. now owns 11,435 shares of the company’s stock worth $221,000 after acquiring an additional 1,011 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in CTO Realty Growth by 9.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,908 shares of the company’s stock worth $254,000 after acquiring an additional 1,159 shares in the last quarter. Institutional investors and hedge funds own 67.18% of the company’s stock.

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.