Sumitomo Mitsui Trust Holdings Inc. Boosts Stake in CTO Realty Growth, Inc. (NYSE:CTO)

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of CTO Realty Growth, Inc. (NYSE:CTO) by 19.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,976 shares of the company’s stock after buying an additional 4,000 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.11% of CTO Realty Growth worth $433,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CTO. CWM LLC grew its position in CTO Realty Growth by 695.6% during the third quarter. CWM LLC now owns 3,620 shares of the company’s stock worth $59,000 after buying an additional 3,165 shares in the last quarter. SG Americas Securities LLC purchased a new position in CTO Realty Growth during the third quarter worth about $151,000. Commonwealth Equity Services LLC grew its position in CTO Realty Growth by 3.3% during the third quarter. Commonwealth Equity Services LLC now owns 36,669 shares of the company’s stock worth $594,000 after buying an additional 1,165 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in CTO Realty Growth by 1.4% during the third quarter. Pinnacle Associates Ltd. now owns 53,862 shares of the company’s stock worth $873,000 after purchasing an additional 725 shares during the last quarter. Finally, Brown Advisory Inc. lifted its stake in CTO Realty Growth by 7.3% during the third quarter. Brown Advisory Inc. now owns 366,105 shares of the company’s stock worth $5,935,000 after purchasing an additional 25,048 shares during the last quarter. 67.18% of the stock is currently owned by hedge funds and other institutional investors.

CTO Realty Growth Trading Down 0.3 %

NYSE CTO opened at $17.11 on Friday. CTO Realty Growth, Inc. has a 1-year low of $15.63 and a 1-year high of $18.03. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 1.08. The stock has a 50-day moving average of $16.85 and a 200-day moving average of $16.78. The firm has a market cap of $390.28 million, a PE ratio of 570.33 and a beta of 0.77.

CTO Realty Growth Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.88%. The ex-dividend date of this dividend was Wednesday, March 13th. CTO Realty Growth’s dividend payout ratio (DPR) is presently 5,066.67%.

Wall Street Analyst Weigh In

CTO has been the subject of several research analyst reports. Alliance Global Partners initiated coverage on CTO Realty Growth in a research note on Monday, April 8th. They set a “buy” rating and a $20.00 price target for the company. B. Riley reaffirmed a “buy” rating on shares of CTO Realty Growth in a research note on Friday, February 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, CTO Realty Growth has a consensus rating of “Moderate Buy” and an average price target of $20.00.

About CTO Realty Growth

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.