Cove Street Capital LLC cut its holdings in shares of CTO Realty Growth, Inc. (NYSE:CTO – Free Report) by 16.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,784 shares of the company’s stock after selling 3,000 shares during the quarter. Cove Street Capital LLC owned 0.07% of CTO Realty Growth worth $241,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Gamco Investors INC. ET AL grew its stake in shares of CTO Realty Growth by 0.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 23,410 shares of the company’s stock valued at $1,553,000 after purchasing an additional 172 shares during the period. Bank of America Corp DE grew its position in CTO Realty Growth by 1.4% in the 1st quarter. Bank of America Corp DE now owns 16,442 shares of the company’s stock valued at $1,090,000 after acquiring an additional 221 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in CTO Realty Growth by 3.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 20,976 shares of the company’s stock worth $340,000 after acquiring an additional 667 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of CTO Realty Growth by 7.6% during the second quarter. PNC Financial Services Group Inc. now owns 10,024 shares of the company’s stock valued at $172,000 after buying an additional 712 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its position in CTO Realty Growth by 1.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 53,862 shares of the company’s stock valued at $873,000 after buying an additional 725 shares in the last quarter. 62.04% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently weighed in on CTO. StockNews.com raised shares of CTO Realty Growth from a “sell” rating to a “hold” rating in a report on Wednesday, December 27th. B. Riley reiterated a “buy” rating on shares of CTO Realty Growth in a report on Friday, February 2nd. Finally, Jonestrading reduced their price objective on shares of CTO Realty Growth from $25.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, October 30th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, CTO Realty Growth has an average rating of “Moderate Buy” and an average price target of $20.00.
CTO Realty Growth Price Performance
NYSE:CTO traded up $0.05 during mid-day trading on Monday, hitting $16.62. The stock had a trading volume of 132,218 shares, compared to its average volume of 81,170. CTO Realty Growth, Inc. has a 52 week low of $15.63 and a 52 week high of $19.42. The company has a 50 day simple moving average of $17.04 and a 200-day simple moving average of $16.83. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.15.
CTO Realty Growth Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Thursday, December 14th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 9.15%. The ex-dividend date of this dividend was Wednesday, December 13th. CTO Realty Growth’s payout ratio is currently -353.48%.
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.
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