Sage Investment Counsel LLC Invests $315,000 in CTO Realty Growth, Inc. (NYSE:CTO)

Sage Investment Counsel LLC bought a new position in CTO Realty Growth, Inc. (NYSE:CTO) in the 4th quarter, HoldingsChannel reports. The fund bought 16,005 shares of the company’s stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors have also modified their holdings of CTO. Point72 DIFC Ltd acquired a new stake in shares of CTO Realty Growth in the third quarter worth $94,000. Values Added Financial LLC purchased a new stake in shares of CTO Realty Growth during the third quarter worth $190,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of CTO Realty Growth during the third quarter worth $205,000. Sanctuary Advisors LLC purchased a new stake in shares of CTO Realty Growth during the third quarter worth $205,000. Finally, Longboard Asset Management LP purchased a new stake in shares of CTO Realty Growth during the fourth quarter worth $212,000. Institutional investors and hedge funds own 67.18% of the company’s stock.

CTO Realty Growth Price Performance

Shares of NYSE:CTO opened at $19.05 on Friday. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 0.88. CTO Realty Growth, Inc. has a 1 year low of $16.33 and a 1 year high of $21.15. The business has a fifty day simple moving average of $19.65 and a 200 day simple moving average of $19.54. The firm has a market cap of $606.61 million, a price-to-earnings ratio of -86.59 and a beta of 0.78.

CTO Realty Growth (NYSE:CTO) last posted its earnings results on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.48. CTO Realty Growth had a negative return on equity of 0.38% and a negative net margin of 1.58%. The company had revenue of $35.74 million for the quarter, compared to analyst estimates of $33.39 million. As a group, sell-side analysts predict that CTO Realty Growth, Inc. will post 1.92 earnings per share for the current fiscal year.

CTO Realty Growth Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 7.98%. CTO Realty Growth’s dividend payout ratio (DPR) is currently -690.91%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered CTO Realty Growth from a “hold” rating to a “sell” rating in a report on Saturday.

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.