CTO Realty Growth, Inc. $CTO Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA lowered its stake in CTO Realty Growth, Inc. (NYSE:CTO) by 4.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 377,137 shares of the company’s stock after selling 17,656 shares during the quarter. Leeward Investments LLC MA owned 1.14% of CTO Realty Growth worth $6,509,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTO. New York State Teachers Retirement System purchased a new position in CTO Realty Growth in the 1st quarter valued at $51,000. Cambridge Investment Research Advisors Inc. purchased a new position in CTO Realty Growth in the 1st quarter valued at $199,000. Somerset Trust Co lifted its holdings in CTO Realty Growth by 14.3% in the 2nd quarter. Somerset Trust Co now owns 12,312 shares of the company’s stock valued at $213,000 after purchasing an additional 1,544 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in CTO Realty Growth by 9.7% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 11,435 shares of the company’s stock valued at $221,000 after purchasing an additional 1,011 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in CTO Realty Growth by 13.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,618 shares of the company’s stock valued at $224,000 after purchasing an additional 1,390 shares in the last quarter. Hedge funds and other institutional investors own 67.18% of the company’s stock.

CTO Realty Growth Stock Up 0.3%

Shares of CTO opened at $16.38 on Monday. The firm has a market cap of $539.46 million, a P/E ratio of -14.24 and a beta of 0.75. CTO Realty Growth, Inc. has a 12-month low of $15.06 and a 12-month high of $20.88. The company’s 50-day moving average price is $16.37 and its 200 day moving average price is $17.24. The company has a current ratio of 4.94, a quick ratio of 4.94 and a debt-to-equity ratio of 1.05.

CTO Realty Growth Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Thursday, September 11th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 9.3%. The ex-dividend date of this dividend was Thursday, September 11th. CTO Realty Growth’s payout ratio is currently -132.17%.

CTO Realty Growth declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 24th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the company to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

CTO has been the topic of a number of research reports. Weiss Ratings restated a “sell (d+)” rating on shares of CTO Realty Growth in a report on Friday. Jones Trading decreased their price objective on CTO Realty Growth from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. Finally, Zacks Research upgraded CTO Realty Growth to a “strong-buy” rating in a report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $22.00.

Insiders Place Their Bets

In related news, CEO John P. Albright acquired 4,200 shares of the stock in a transaction dated Thursday, September 11th. The stock was acquired at an average cost of $16.53 per share, with a total value of $69,426.00. Following the completion of the transaction, the chief executive officer owned 632,547 shares in the company, valued at $10,456,001.91. This represents a 0.67% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders bought 8,950 shares of company stock valued at $147,739. Insiders own 4.00% 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.