CTO Realty Growth, Inc. (NYSE:CTO) Declares $0.38 Quarterly Dividend

CTO Realty Growth, Inc. (NYSE:CTO) announced a quarterly dividend on Tuesday, August 19th, RTT News reports. Shareholders of record on Thursday, September 11th will be given a dividend of 0.38 per share on Tuesday, September 30th. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend is Thursday, September 11th.

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 Up 0.1%

Shares of CTO stock opened at $16.62 on Thursday. The firm has a fifty day moving average of $17.25 and a 200-day moving average of $18.18. The company has a quick ratio of 4.94, a current ratio of 4.94 and a debt-to-equity ratio of 1.05. CTO Realty Growth has a 12-month low of $16.12 and a 12-month high of $21.15. The company has a market capitalization of $547.46 million, a price-to-earnings ratio of -14.45 and a beta of 0.74.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. New York State Teachers Retirement System bought a new position in shares of CTO Realty Growth in the 1st quarter valued at about $51,000. Summit Investment Advisors Inc. grew its position in shares of CTO Realty Growth by 39.3% in the 4th 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. Tower Research Capital LLC TRC grew its position in shares of CTO Realty Growth by 51.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,654 shares of the company’s stock valued at $63,000 after acquiring an additional 1,245 shares during the period. NewEdge Advisors LLC grew its position in shares of CTO Realty Growth by 300.0% in the 4th quarter. NewEdge Advisors LLC now owns 4,000 shares of the company’s stock valued at $79,000 after acquiring an additional 3,000 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey grew its position in shares of CTO Realty Growth by 24.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 7,050 shares of the company’s stock valued at $122,000 after acquiring an additional 1,377 shares during the 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.