StockNews.com Downgrades CTO Realty Growth (NYSE:CTO) to Sell

CTO Realty Growth (NYSE:CTOGet Rating) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

A number of other brokerages have also issued reports on CTO. EF Hutton Acquisition Corp I boosted their target price on shares of CTO Realty Growth from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, August 1st. TheStreet raised shares of CTO Realty Growth from a “c” rating to a “b-” rating in a research note on Friday, August 19th. Raymond James began coverage on shares of CTO Realty Growth in a research note on Friday, June 17th. They set an “outperform” rating and a $23.00 target price for the company. Finally, BTIG Research set a $24.00 target price on shares of CTO Realty Growth in a research note on Tuesday, July 19th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, CTO Realty Growth has an average rating of “Moderate Buy” and a consensus price target of $24.40.

CTO Realty Growth Stock Down 1.4 %

Shares of CTO opened at $19.54 on Friday. The firm has a market capitalization of $357.91 million, a P/E ratio of 15.31 and a beta of 0.75. CTO Realty Growth has a 12-month low of $17.57 and a 12-month high of $23.07. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average price of $21.18 and a 200-day moving average price of $45.12.

Insider Buying and Selling

In other news, major shareholder Cto Realty Growth, Inc. bought 1,800 shares of CTO Realty Growth stock in a transaction on Tuesday, September 20th. The stock was acquired at an average cost of $17.88 per share, for a total transaction of $32,184.00. Following the completion of the acquisition, the insider now owns 1,800 shares of the company’s stock, valued at approximately $32,184. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Cto Realty Growth, Inc. bought 1,800 shares of CTO Realty Growth stock in a transaction on Tuesday, September 20th. The stock was acquired at an average cost of $17.88 per share, for a total transaction of $32,184.00. Following the completion of the acquisition, the insider now owns 1,800 shares of the company’s stock, valued at approximately $32,184. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Blakeslee Gable bought 1,245 shares of CTO Realty Growth stock in a transaction on Tuesday, August 2nd. The stock was purchased at an average price of $21.50 per share, with a total value of $26,767.50. Following the completion of the acquisition, the director now directly owns 25,331 shares of the company’s stock, valued at approximately $544,616.50. The disclosure for this purchase can be found here. Insiders acquired a total of 10,778 shares of company stock valued at $194,892 over the last three months. 5.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On CTO Realty Growth

Several hedge funds have recently modified their holdings of the stock. Grace & White Inc. NY boosted its position in CTO Realty Growth by 214.0% in the 2nd quarter. Grace & White Inc. NY now owns 414,138 shares of the company’s stock worth $8,437,000 after purchasing an additional 282,253 shares in the last quarter. Foundry Partners LLC acquired a new stake in shares of CTO Realty Growth in the 1st quarter worth $4,366,000. LSV Asset Management increased its position in shares of CTO Realty Growth by 166.6% during the 1st quarter. LSV Asset Management now owns 81,455 shares of the company’s stock worth $5,402,000 after purchasing an additional 50,903 shares during the last quarter. Miller Value Partners LLC acquired a new stake in shares of CTO Realty Growth during the 4th quarter worth about $3,071,000. Finally, State Street Corp increased its position in shares of CTO Realty Growth by 36.9% during the 1st quarter. State Street Corp now owns 163,201 shares of the company’s stock worth $10,823,000 after purchasing an additional 43,961 shares during the last quarter. Institutional investors and hedge funds own 20.86% of the company’s stock.

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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