CTO Realty Growth, Inc. $CTO Stock Holdings Lessened by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its holdings in shares of CTO Realty Growth, Inc. (NYSE:CTO) by 37.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,868 shares of the company’s stock after selling 5,288 shares during the period. PNC Financial Services Group Inc.’s holdings in CTO Realty Growth were worth $153,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. M&G PLC acquired a new position in CTO Realty Growth in the second quarter valued at approximately $195,000. Somerset Trust Co lifted its holdings in shares of CTO Realty Growth by 14.3% in the 2nd quarter. Somerset Trust Co now owns 12,312 shares of the company’s stock worth $213,000 after purchasing an additional 1,544 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its position in CTO Realty Growth by 9.7% during 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 during the period. State of Alaska Department of Revenue boosted its position in CTO Realty Growth by 6.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 14,704 shares of the company’s stock valued at $253,000 after purchasing an additional 885 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in CTO Realty Growth during the 1st quarter worth $258,000. Institutional investors and hedge funds own 67.18% of the company’s stock.

Insider Activity at CTO Realty Growth

In other news, CEO John P. Albright bought 4,200 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were purchased at an average price of $16.53 per share, with a total value of $69,426.00. Following the completion of the acquisition, the chief executive officer directly owned 632,547 shares in the company, valued at approximately $10,456,001.91. This trade represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 8,950 shares of company stock worth $147,739 in the last quarter. 4.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CTO shares. Jones Trading reiterated a “buy” rating and issued a $21.00 target price on shares of CTO Realty Growth in a research note on Wednesday, October 29th. Zacks Research upgraded shares of CTO Realty Growth to a “strong-buy” rating in a research report on Tuesday, October 21st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of CTO Realty Growth in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, CTO Realty Growth has an average rating of “Buy” and a consensus target price of $22.00.

CTO Realty Growth Trading Down 0.1%

NYSE:CTO opened at $18.08 on Friday. The stock has a market cap of $585.29 million, a price-to-earnings ratio of -14.02 and a beta of 0.76. The company has a debt-to-equity ratio of 1.08, a quick ratio of 4.94 and a current ratio of 3.96. CTO Realty Growth, Inc. has a 1 year low of $15.06 and a 1 year high of $20.88. The business has a fifty day moving average of $16.58 and a 200-day moving average of $17.12.

CTO Realty Growth (NYSE:CTO) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.46). The company had revenue of $34.62 million during the quarter, compared to analyst estimates of $37.83 million. CTO Realty Growth had a negative return on equity of 5.72% and a negative net margin of 22.77%. CTO Realty Growth has set its FY 2025 guidance at 1.840-1.87 EPS. Equities analysts predict that CTO Realty Growth, Inc. will post 1.92 earnings per share for the current year.

CTO Realty Growth declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, September 24th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 1.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

CTO Realty Growth Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Thursday, December 11th will be issued a $0.38 dividend. The ex-dividend date is Thursday, December 11th. This represents a $1.52 annualized dividend and a dividend yield of 8.4%. CTO Realty Growth’s dividend payout ratio (DPR) is -117.83%.

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.