CTO Realty Growth, Inc. Plans Quarterly Dividend of $0.38 (NYSE:CTO)

CTO Realty Growth, Inc. (NYSE:CTO) declared a quarterly dividend on Tuesday, November 18th. Investors of record on Thursday, December 11th will be given a dividend of 0.38 per share on Wednesday, December 31st. This represents a c) annualized dividend and a yield of 8.8%. The ex-dividend date of this dividend is Thursday, December 11th.

CTO Realty Growth has raised its dividend payment by an average of 0.6%per year over the last three years. CTO Realty Growth has a payout ratio of 633.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect CTO Realty Growth to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 79.6%.

CTO Realty Growth Price Performance

CTO Realty Growth stock opened at $17.36 on Wednesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 3.96 and a quick ratio of 4.94. CTO Realty Growth has a one year low of $15.06 and a one year high of $20.88. The firm has a market capitalization of $561.98 million, a P/E ratio of -13.46 and a beta of 0.76. The business has a fifty day moving average price of $16.39 and a 200-day moving average price of $17.12.

CTO Realty Growth (NYSE:CTO) last posted its earnings results on Tuesday, October 28th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.46). CTO Realty Growth had a negative net margin of 22.77% and a negative return on equity of 5.72%. The company had revenue of $34.62 million for the quarter, compared to analysts’ expectations of $37.83 million. CTO Realty Growth has set its FY 2025 guidance at 1.840-1.87 EPS. As a group, equities research analysts forecast that CTO Realty Growth will post 1.92 EPS for the current year.

Wall Street Analyst Weigh In

CTO has been the subject of a number of research reports. Zacks Research upgraded CTO Realty Growth to a “strong-buy” rating in a report on Tuesday, October 21st. Jones Trading restated a “buy” rating and issued a $21.00 target price on shares of CTO Realty Growth in a research report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CTO Realty Growth in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, CTO Realty Growth has an average rating of “Buy” and a consensus target price of $22.00.

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.