CTO Realty Growth (NYSE:CTO) Issues FY 2024 Earnings Guidance

by · The Markets Daily

CTO Realty Growth (NYSE:CTO – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.830-1.870 for the period, compared to the consensus EPS estimate of 1.840. The company issued revenue guidance of -.

CTO Realty Growth Stock Performance

NYSE:CTO traded up $0.15 during midday trading on Thursday, reaching $19.70. The stock had a trading volume of 366,396 shares, compared to its average volume of 231,835. The firm has a fifty day simple moving average of $19.12 and a two-hundred day simple moving average of $18.32. CTO Realty Growth has a 12-month low of $15.64 and a 12-month high of $21.15. 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 stock has a market cap of $452.04 million, a P/E ratio of 35.82 and a beta of 0.76.

CTO Realty Growth (NYSE:CTO – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.42). CTO Realty Growth had a net margin of 14.52% and a return on equity of 3.55%. The firm had revenue of $28.85 million during the quarter, compared to analysts’ expectations of $27.46 million. During the same quarter last year, the business earned $0.48 earnings per share. On average, equities analysts expect that CTO Realty Growth will post 1.78 EPS for the current year.

CTO Realty Growth Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 12th were given a $0.38 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.52 dividend on an annualized basis and a yield of 7.72%. CTO Realty Growth’s dividend payout ratio (DPR) is 276.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CTO shares. Alliance Global Partners raised CTO Realty Growth to a “strong-buy” rating in a report on Friday, July 26th. Raymond James raised their target price on CTO Realty Growth from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, August 16th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $20.33.

Get Our Latest Research Report on CTO

Insider Transactions at CTO Realty Growth

In other news, Director Christopher W. Haga sold 3,000 shares of CTO Realty Growth stock in a transaction on 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 $875,016.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.00% of the company’s stock.

About CTO Realty Growth

(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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