Point72 Asset Management L.P. Invests $221,000 in CTO Realty Growth, Inc. (NYSE:CTO)

Point72 Asset Management L.P. bought a new stake in CTO Realty Growth, Inc. (NYSE:CTO) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 11,600 shares of the company’s stock, valued at approximately $221,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ingalls & Snyder LLC raised its position in shares of CTO Realty Growth by 0.3% in the third quarter. Ingalls & Snyder LLC now owns 397,111 shares of the company’s stock worth $7,553,000 after acquiring an additional 1,241 shares during the period. Heitman Real Estate Securities LLC increased its stake in shares of CTO Realty Growth by 26.2% in the 3rd quarter. Heitman Real Estate Securities LLC now owns 989,073 shares of the company’s stock valued at $18,812,000 after purchasing an additional 205,383 shares in the last quarter. Atom Investors LP acquired a new position in CTO Realty Growth in the 3rd quarter worth about $1,149,000. Verition Fund Management LLC purchased a new position in CTO Realty Growth during the third quarter worth approximately $548,000. Finally, Martingale Asset Management L P grew its holdings in CTO Realty Growth by 21.5% in the third quarter. Martingale Asset Management L P now owns 23,715 shares of the company’s stock valued at $451,000 after purchasing an additional 4,192 shares during the period. 67.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CTO Realty Growth

In other CTO Realty Growth news, CEO John P. Albright sold 29,488 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $20.71, for a total value of $610,696.48. Following the completion of the sale, the chief executive officer now owns 570,554 shares in the company, valued at approximately $11,816,173.34. This represents a 4.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.30% of the company’s stock.

CTO Realty Growth Price Performance

Shares of CTO Realty Growth stock opened at $20.13 on Friday. The stock has a market capitalization of $603.42 million, a P/E ratio of 34.12 and a beta of 0.77. The business has a 50 day simple moving average of $19.72 and a two-hundred day simple moving average of $18.99. CTO Realty Growth, Inc. has a 12 month low of $16.16 and a 12 month high of $21.15. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.96 and a quick ratio of 3.96.

CTO Realty Growth (NYSE:CTO) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.27). The firm had revenue of $31.81 million during the quarter, compared to analyst estimates of $30.15 million. CTO Realty Growth had a net margin of 17.10% and a return on equity of 4.04%. During the same period in the prior year, the company posted $0.48 earnings per share. As a group, analysts predict that CTO Realty Growth, Inc. will post 1.8 EPS for the current fiscal year.

CTO Realty Growth Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 12th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.55%. The ex-dividend date is Thursday, December 12th. CTO Realty Growth’s dividend payout ratio is currently 257.63%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTO. Raymond James raised CTO Realty Growth from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $22.00 to $24.00 in a research note on Wednesday, October 30th. StockNews.com cut shares of CTO Realty Growth from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $21.00.

CTO Realty Growth Company Profile

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.