Penserra Capital Management LLC Raises Stock Position in CTO Realty Growth, Inc. (NYSE:CTO)

Penserra Capital Management LLC lifted its holdings in CTO Realty Growth, Inc. (NYSE:CTO) by 20.9% during the first quarter, Holdings Channel reports. The institutional investor owned 56,436 shares of the company’s stock after acquiring an additional 9,741 shares during the quarter. Penserra Capital Management LLC’s holdings in CTO Realty Growth were worth $1,089,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTO. GAMMA Investing LLC grew its position in CTO Realty Growth by 2,033.9% during the 1st quarter. GAMMA Investing LLC now owns 26,802 shares of the company’s stock valued at $518,000 after purchasing an additional 25,546 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of CTO Realty Growth by 4.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 22,290 shares of the company’s stock worth $439,000 after purchasing an additional 993 shares during the period. Raymond James Financial Inc. purchased a new position in shares of CTO Realty Growth in the fourth quarter worth approximately $3,787,000. Deutsche Bank AG boosted its holdings in shares of CTO Realty Growth by 2.9% in the fourth quarter. Deutsche Bank AG now owns 75,075 shares of the company’s stock worth $1,480,000 after buying an additional 2,142 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in CTO Realty Growth by 24.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 71,542 shares of the company’s stock worth $1,381,000 after acquiring an additional 13,904 shares during the period. 67.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CTO Realty Growth

In other news, Director George R. Brokaw purchased 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 26th. The stock was purchased at an average cost of $16.94 per share, with a total value of $33,880.00. Following the completion of the acquisition, the director directly owned 91,701 shares of the company’s stock, valued at approximately $1,553,414.94. This trade represents a 2.23% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John P. Albright bought 3,800 shares of the stock in a transaction on Thursday, June 26th. The shares were bought at an average price of $17.05 per share, for a total transaction of $64,790.00. Following the completion of the transaction, the chief executive officer directly owned 628,347 shares of the company’s stock, valued at $10,713,316.35. This trade represents a 0.61% increase in their position. The disclosure for this purchase can be found here. Insiders bought 7,800 shares of company stock valued at $132,960 over the last ninety days. Corporate insiders own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CTO. Wall Street Zen cut shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research report on Tuesday, May 13th. Raymond James Financial restated a “strong-buy” rating on shares of CTO Realty Growth in a report on Friday, May 23rd.

CTO Realty Growth Stock Performance

NYSE:CTO opened at $17.30 on Wednesday. The company has a fifty day simple moving average of $18.03 and a two-hundred day simple moving average of $18.72. The company has a market cap of $569.86 million, a price-to-earnings ratio of -42.20 and a beta of 0.73. 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, Inc. has a 52 week low of $16.12 and a 52 week high of $21.15.

CTO Realty Growth Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 12th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.79%. CTO Realty Growth’s payout ratio is -370.73%.

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.