CTO Realty Growth, Inc. $CTO Shares Sold by Mraz Amerine & Associates Inc.

Mraz Amerine & Associates Inc. cut its stake in CTO Realty Growth, Inc. (NYSE:CTO) by 15.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,397 shares of the company’s stock after selling 3,052 shares during the period. Mraz Amerine & Associates Inc.’s holdings in CTO Realty Growth were worth $283,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CTO. Principal Financial Group Inc. lifted its position in CTO Realty Growth by 5.7% in the 1st quarter. Principal Financial Group Inc. now owns 15,998 shares of the company’s stock valued at $309,000 after purchasing an additional 859 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of CTO Realty Growth by 6.4% in the second quarter. State of Alaska Department of Revenue now owns 14,704 shares of the company’s stock valued at $253,000 after purchasing an additional 885 shares during the period. Resona Asset Management Co. Ltd. increased its stake in shares of CTO Realty Growth by 9.7% in the first quarter. Resona Asset Management Co. Ltd. now owns 11,435 shares of the company’s stock valued at $221,000 after purchasing an additional 1,011 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of CTO Realty Growth by 9.7% during the first quarter. PNC Financial Services Group Inc. now owns 14,156 shares of the company’s stock valued at $273,000 after buying an additional 1,248 shares during the last quarter. Finally, Triumph Capital Management boosted its position in shares of CTO Realty Growth by 9.7% during the first quarter. Triumph Capital Management now owns 15,628 shares of the company’s stock worth $302,000 after buying an additional 1,388 shares during the period. Institutional investors and hedge funds own 67.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CTO shares. Jones Trading reduced their price target on CTO Realty Growth from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, July 30th. Weiss Ratings restated a “sell (d+)” rating on shares of CTO Realty Growth in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, CTO Realty Growth has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Insider Activity at CTO Realty Growth

In other news, CEO John P. Albright purchased 2,000 shares of CTO Realty Growth stock in a transaction that occurred on Thursday, September 11th. The stock was acquired at an average price of $16.38 per share, for a total transaction of $32,760.00. Following the transaction, the chief executive officer owned 634,547 shares in the company, valued at $10,393,879.86. The trade was a 0.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have purchased 8,950 shares of company stock valued at $147,739. 4.00% of the stock is currently owned by corporate insiders.

CTO Realty Growth Stock Performance

Shares of NYSE CTO opened at $15.57 on Tuesday. The company has a quick ratio of 4.94, a current ratio of 4.94 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $512.88 million, a price-to-earnings ratio of -13.54 and a beta of 0.75. The stock’s fifty day simple moving average is $16.59 and its 200 day simple moving average is $17.51. CTO Realty Growth, Inc. has a 52-week low of $15.56 and a 52-week high of $20.88.

CTO Realty Growth Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Thursday, September 11th were issued a dividend of $0.38 per share. The ex-dividend date was Thursday, September 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.8%. CTO Realty Growth’s payout ratio is currently -132.17%.

CTO Realty Growth announced that its board has initiated a share buyback plan on Wednesday, September 24th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the company to buy up to 1.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.