CTO Realty Growth, Inc. (NYSE:CTO) Sees Significant Growth in Short Interest

CTO Realty Growth, Inc. (NYSE:CTO – Get Rating) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 909,500 shares, an increase of 6.9% from the February 13th total of 850,600 shares. Based on an average trading volume of 183,900 shares, the short-interest ratio is currently 4.9 days.

CTO Realty Growth Stock Down 2.9 %

Shares of NYSE CTO opened at $15.99 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.58 and a current ratio of 2.58. The firm has a market capitalization of $367.93 million, a price-to-earnings ratio of -209.08 and a beta of 0.81. The stock has a 50 day moving average price of $18.47 and a 200 day moving average price of $19.08. CTO Realty Growth has a 52-week low of $15.98 and a 52-week high of $23.07.

CTO Realty Growth Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Thursday, March 9th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, March 8th. This represents a $1.52 dividend on an annualized basis and a yield of 9.51%. CTO Realty Growth’s dividend payout ratio is currently -1,982.52%.

Insider Buying and Selling

In related news, major shareholder Cto Realty Growth, Inc. purchased 23,385 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The stock was bought at an average price of $16.20 per share, for a total transaction of $378,837.00. Following the completion of the transaction, the insider now owns 113,995 shares in the company, valued at approximately $1,846,719. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Matthew Morris Partridge acquired 2,500 shares of the firm’s stock in a transaction on Friday, March 10th. The stock was acquired at an average price of $16.75 per share, with a total value of $41,875.00. Following the completion of the purchase, the chief financial officer now directly owns 100,907 shares in the company, valued at $1,690,192.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Cto Realty Growth, Inc. acquired 23,385 shares of the firm’s stock in a transaction on Wednesday, March 15th. The stock was purchased at an average cost of $16.20 per share, with a total value of $378,837.00. Following the purchase, the insider now owns 113,995 shares of the company’s stock, valued at $1,846,719. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 57,870 shares of company stock worth $947,919. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of CTO Realty Growth

A number of hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. lifted its holdings in CTO Realty Growth by 24.3% during the fourth quarter. Alliancebernstein L.P. now owns 12,778 shares of the company’s stock worth $234,000 after buying an additional 2,500 shares during the period. State of Wyoming lifted its holdings in CTO Realty Growth by 573.8% during the fourth quarter. State of Wyoming now owns 7,904 shares of the company’s stock worth $144,000 after buying an additional 6,731 shares during the period. Gamco Investors INC. ET AL lifted its holdings in CTO Realty Growth by 1.0% during the fourth quarter. Gamco Investors INC. ET AL now owns 71,939 shares of the company’s stock worth $1,315,000 after buying an additional 681 shares during the period. Seven Grand Managers LLC purchased a new stake in CTO Realty Growth during the fourth quarter worth $933,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in CTO Realty Growth during the fourth quarter worth $958,000. Hedge funds and other institutional investors own 47.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. B. Riley decreased their price objective on shares of CTO Realty Growth from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, February 28th. Jonestrading reissued a “buy” rating and issued a $26.00 price objective on shares of CTO Realty Growth in a research note on Thursday, March 9th. BTIG Research decreased their price objective on shares of CTO Realty Growth from $24.00 to $21.00 in a research note on Tuesday, December 27th. Raymond James decreased their price target on shares of CTO Realty Growth from $26.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, January 4th. Finally, TheStreet lowered CTO Realty Growth from a “b-” rating to a “c” rating in a report on Thursday, December 1st. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.40.

About CTO Realty Growth

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CTO Realty Growth, Inc operates as a real estate company. It owns and manages commercial real estate properties. The company was founded in 1910 and is headquartered in Daytona Beach, FL.