StockNews.com Upgrades CTO Realty Growth (NYSE:CTO) to “Hold”

CTO Realty Growth (NYSE:CTO) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

Separately, B. Riley reiterated a “buy” rating and set a $23.00 price target (up previously from $22.50) on shares of CTO Realty Growth in a research note on Wednesday, March 5th.

CTO Realty Growth Price Performance

Shares of NYSE:CTO opened at $17.91 on Monday. CTO Realty Growth has a 12 month low of $16.12 and a 12 month high of $21.15. The firm has a market capitalization of $589.90 million, a P/E ratio of -81.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.96 and a quick ratio of 3.96. The company’s fifty day moving average price is $18.43 and its 200 day moving average price is $19.31.

CTO Realty Growth (NYSE:CTO) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.48. The firm had revenue of $35.74 million for the quarter, compared to the consensus estimate of $33.39 million. CTO Realty Growth had a negative return on equity of 0.38% and a negative net margin of 1.58%. As a group, sell-side analysts predict that CTO Realty Growth will post 1.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CTO Realty Growth

A number of hedge funds and other institutional investors have recently bought and sold shares of CTO. New York State Teachers Retirement System purchased a new position in CTO Realty Growth during the first quarter worth about $51,000. Summit Investment Advisors Inc. raised its stake in shares of CTO Realty Growth by 39.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,020 shares of the company’s stock worth $60,000 after buying an additional 852 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of CTO Realty Growth by 300.0% during the 4th quarter. NewEdge Advisors LLC now owns 4,000 shares of the company’s stock worth $79,000 after buying an additional 3,000 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of CTO Realty Growth by 32.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,666 shares of the company’s stock valued at $171,000 after buying an additional 2,118 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of CTO Realty Growth in the fourth quarter valued at approximately $179,000. 67.18% of the stock is currently owned by hedge funds and other institutional investors.

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.