CTO Realty Growth (NYSE:CTO) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of CTO Realty Growth (NYSE:CTO) from a hold rating to a sell rating in a research report report published on Saturday.

CTO Realty Growth Stock Up 1.9 %

Shares of CTO stock opened at $19.05 on Friday. CTO Realty Growth has a 12 month low of $16.33 and a 12 month high of $21.15. The stock has a market cap of $606.61 million, a P/E ratio of -86.59 and a beta of 0.78. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 0.88. The company has a 50 day simple moving average of $19.64 and a two-hundred day simple moving average of $19.54.

CTO Realty Growth (NYSE:CTO) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.48. The firm had revenue of $35.74 million during the quarter, compared to analysts’ expectations of $33.39 million. CTO Realty Growth had a negative net margin of 1.58% and a negative return on equity of 0.38%. On average, research analysts expect that CTO Realty Growth will post 1.92 earnings per share for the current year.

CTO Realty Growth Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 13th will be paid a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.98%. CTO Realty Growth’s dividend payout ratio (DPR) is presently -690.91%.

Institutional Trading of CTO Realty Growth

A number of hedge funds and other institutional investors have recently modified their holdings of CTO. Vanguard Group Inc. grew its stake in CTO Realty Growth by 118.6% during the fourth quarter. Vanguard Group Inc. now owns 2,514,789 shares of the company’s stock valued at $49,566,000 after acquiring an additional 1,364,637 shares in the last quarter. Invesco Ltd. grew its stake in CTO Realty Growth by 681.9% during the fourth quarter. Invesco Ltd. now owns 468,556 shares of the company’s stock valued at $9,235,000 after acquiring an additional 408,632 shares in the last quarter. APG Asset Management US Inc. purchased a new position in CTO Realty Growth during the fourth quarter valued at $6,500,000. BNP Paribas Financial Markets purchased a new position in CTO Realty Growth during the fourth quarter valued at $6,485,000. Finally, Thrivent Financial for Lutherans bought a new position in CTO Realty Growth during the fourth quarter valued at $4,673,000. 67.18% of the stock is owned by hedge funds and other institutional investors.

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.