CTO Realty Growth, Inc. (NYSE:CTO) Short Interest Down 37.5% in October

by · The Cerbat Gem

CTO Realty Growth, Inc. (NYSE:CTO – Get Free Report) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totalling 781,400 shares, a drop of 37.5% from the September 30th total of 1,250,000 shares. Based on an average trading volume of 456,000 shares, the days-to-cover ratio is currently 1.7 days.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. StockNews.com cut CTO Realty Growth from a “hold” rating to a “sell” rating in a research note on Monday. Alliance Global Partners upgraded shares of CTO Realty Growth to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Raymond James boosted their target price on shares of CTO Realty Growth from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.33.

Check Out Our Latest Stock Report on CTO

CTO Realty Growth Stock Performance

Shares of NYSE:CTO traded down $0.12 during trading on Tuesday, hitting $19.19. 301,815 shares of the stock traded hands, compared to its average volume of 233,692. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 0.98. The company has a fifty day moving average price of $19.13 and a two-hundred day moving average price of $18.37. CTO Realty Growth has a 52-week low of $15.64 and a 52-week high of $21.15. The company has a market cap of $440.22 million, a price-to-earnings ratio of 34.88 and a beta of 0.76.

CTO Realty Growth (NYSE:CTO – Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.27). CTO Realty Growth had a return on equity of 3.55% and a net margin of 14.52%. The firm had revenue of $31.81 million during the quarter, compared to analyst estimates of $30.15 million. During the same quarter last year, the company posted $0.48 EPS. As a group, equities analysts predict that CTO Realty Growth will post 1.78 EPS for the current year.

CTO Realty Growth Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 12th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 7.92%. The ex-dividend date was Thursday, September 12th. CTO Realty Growth’s payout ratio is currently 276.36%.

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 that occurred on Monday, September 9th. The shares were sold at an average price of $19.45, for a total transaction of $58,350.00. Following the sale, the director now owns 44,988 shares of the company’s stock, valued at approximately $875,016.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of CTO Realty Growth

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC raised its position in shares of CTO Realty Growth by 145.0% during the 2nd quarter. Hsbc Holdings PLC now owns 88,707 shares of the company’s stock worth $1,531,000 after purchasing an additional 52,500 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of CTO Realty Growth by 11.9% during the first quarter. Russell Investments Group Ltd. now owns 393,252 shares of the company’s stock valued at $6,666,000 after acquiring an additional 41,938 shares during the last quarter. LDR Capital Management LLC acquired a new position in shares of CTO Realty Growth during the second quarter valued at approximately $483,000. AXA S.A. acquired a new stake in shares of CTO Realty Growth in the second quarter worth approximately $900,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of CTO Realty Growth during the third quarter worth approximately $404,000. 67.18% of the stock is currently owned by hedge funds and other institutional investors.

CTO Realty Growth Company Profile

(Get Free Report)

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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