Penserra Capital Management LLC Has $1.06 Million Position in CTO Realty Growth, Inc. (NYSE:CTO)

Penserra Capital Management LLC lifted its stake in shares of CTO Realty Growth, Inc. (NYSE:CTO) by 22.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 55,968 shares of the company’s stock after buying an additional 10,385 shares during the quarter. Penserra Capital Management LLC’s holdings in CTO Realty Growth were worth $1,064,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hsbc Holdings PLC raised its holdings in CTO Realty Growth by 145.0% in the 2nd quarter. Hsbc Holdings PLC now owns 88,707 shares of the company’s stock valued at $1,531,000 after acquiring an additional 52,500 shares during the period. LDR Capital Management LLC bought a new position in shares of CTO Realty Growth during the second quarter worth approximately $483,000. AXA S.A. acquired a new stake in CTO Realty Growth during the 2nd quarter worth approximately $900,000. Sequoia Financial Advisors LLC bought a new stake in CTO Realty Growth in the 3rd quarter valued at $404,000. Finally, CWM LLC grew its holdings in CTO Realty Growth by 65.6% in the 3rd quarter. CWM LLC now owns 7,497 shares of the company’s stock valued at $143,000 after buying an additional 2,970 shares in the last quarter. Institutional investors own 67.18% of the company’s stock.

Analyst Upgrades and Downgrades

CTO has been the subject of a number of research reports. Raymond James raised CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $22.00 to $24.00 in a report on Wednesday, October 30th. StockNews.com downgraded shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, CTO Realty Growth presently has a consensus rating of “Buy” and a consensus target price of $21.00.

CTO Realty Growth Stock Performance

CTO opened at $19.99 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.96 and a current ratio of 3.96. CTO Realty Growth, Inc. has a 52-week low of $16.16 and a 52-week high of $21.15. The firm has a market cap of $599.30 million, a P/E ratio of 33.90 and a beta of 0.76. The business’s fifty day moving average is $19.38 and its 200-day moving average is $18.75.

CTO Realty Growth (NYSE:CTO) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.27). The firm had revenue of $31.81 million for the quarter, compared to analyst estimates of $30.15 million. CTO Realty Growth had a return on equity of 4.04% and a net margin of 17.10%. During the same quarter in the previous year, the company earned $0.48 earnings per share. Sell-side analysts expect that CTO Realty Growth, Inc. will post 1.79 EPS for the current fiscal year.

CTO Realty Growth Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.52 annualized dividend and a yield of 7.60%. CTO Realty Growth’s dividend payout ratio is currently 257.63%.

Insiders Place Their Bets

In other CTO Realty Growth news, Director Christopher W. Haga sold 3,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $19.45, for a total transaction of $58,350.00. Following the completion of the transaction, the director now owns 44,988 shares of the company’s stock, valued at approximately $875,016.60. The trade was a 6.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John P. Albright sold 29,488 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.71, for a total transaction of $610,696.48. Following the completion of the transaction, the chief executive officer now directly owns 570,554 shares of the company’s stock, valued at $11,816,173.34. This trade represents a 4.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,488 shares of company stock worth $726,616 over the last three months. Insiders own 5.30% of the company’s stock.

CTO Realty Growth 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.