CTO Realty Growth (NYSE:CTO) Rating Lowered to Sell at StockNews.com

CTO Realty Growth (NYSE:CTOGet Rating) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other research analysts also recently weighed in on the stock. BTIG Research set a $24.00 target price on shares of CTO Realty Growth in a research report on Tuesday, July 19th. TheStreet lowered CTO Realty Growth from a “b-” rating to a “c” rating in a research note on Friday, May 20th. Jonestrading increased their price target on CTO Realty Growth from $25.00 to $26.67 in a research note on Friday, April 29th. Raymond James began coverage on CTO Realty Growth in a research note on Friday, June 17th. They issued an “outperform” rating and a $23.00 price objective on the stock. Finally, EF Hutton Acquisition Corp I upped their price objective on shares of CTO Realty Growth from $24.00 to $25.00 and gave the company a “buy” rating in a report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.40.

CTO Realty Growth Stock Performance

CTO opened at $21.49 on Friday. CTO Realty Growth has a fifty-two week low of $17.43 and a fifty-two week high of $22.46. The firm’s 50-day moving average is $40.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 6.05 and a current ratio of 6.05. The company has a market capitalization of $393.63 million, a price-to-earnings ratio of 16.83 and a beta of 0.76.

Insider Transactions at CTO Realty Growth

In other CTO Realty Growth news, Director Robert Blakeslee Gable acquired 1,245 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were bought at an average price of $21.50 per share, for a total transaction of $26,767.50. Following the completion of the transaction, the director now owns 25,331 shares of the company’s stock, valued at approximately $544,616.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director George R. Brokaw bought 1,000 shares of the company’s stock in a transaction on Monday, June 13th. The stock was acquired at an average cost of $60.40 per share, for a total transaction of $60,400.00. Following the completion of the transaction, the director now directly owns 19,891 shares in the company, valued at approximately $1,201,416.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Blakeslee Gable purchased 1,245 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was bought at an average cost of $21.50 per share, with a total value of $26,767.50. Following the purchase, the director now owns 25,331 shares in the company, valued at $544,616.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 31,651 shares of company stock valued at $603,454. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of CTO Realty Growth

A number of hedge funds have recently made changes to their positions in CTO. Amalgamated Bank purchased a new stake in CTO Realty Growth during the first quarter valued at about $47,000. Dorsey Wright & Associates purchased a new stake in CTO Realty Growth in the first quarter worth approximately $49,000. Daiwa Securities Group Inc. boosted its stake in CTO Realty Growth by 42.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,733 shares of the company’s stock worth $106,000 after buying an additional 513 shares in the last quarter. SG Americas Securities LLC bought a new position in CTO Realty Growth during the second quarter valued at approximately $128,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of CTO Realty Growth by 79.4% during the second quarter. Nisa Investment Advisors LLC now owns 2,259 shares of the company’s stock worth $138,000 after acquiring an additional 1,000 shares in the last quarter. 65.42% of the stock is owned by institutional investors.

About CTO Realty Growth

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CTO Realty Growth, Inc is a Florida-based publicly traded real estate company, which owns income properties comprised of approximately 2.4 million square feet in diversified markets in the United States and an approximately 23.5% interest in Alpine Income Property Trust, Inc, a publicly traded net lease real estate investment trust (NYSE: PINE).

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