Chilton Capital Management LLC Sells 5,704 Shares of CTO Realty Growth, Inc. $CTO

Chilton Capital Management LLC lowered its stake in CTO Realty Growth, Inc. (NYSE:CTO) by 54.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,681 shares of the company’s stock after selling 5,704 shares during the quarter. Chilton Capital Management LLC’s holdings in CTO Realty Growth were worth $81,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CTO. New York State Teachers Retirement System bought a new stake in CTO Realty Growth in the first quarter valued at about $51,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of CTO Realty Growth during the 1st quarter worth about $199,000. Somerset Trust Co raised its position in shares of CTO Realty Growth by 14.3% in the 2nd quarter. Somerset Trust Co now owns 12,312 shares of the company’s stock valued at $213,000 after acquiring an additional 1,544 shares during the period. Resona Asset Management Co. Ltd. boosted its stake in CTO Realty Growth by 9.7% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 11,435 shares of the company’s stock worth $221,000 after acquiring an additional 1,011 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in CTO Realty Growth by 13.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,618 shares of the company’s stock worth $224,000 after acquiring an additional 1,390 shares during the last quarter. 67.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on CTO shares. Zacks Research upgraded shares of CTO Realty Growth to a “strong-buy” rating in a report on Tuesday, October 21st. Jones Trading lowered their price objective on shares of 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. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of CTO Realty Growth in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $22.00.

Insider Activity

In other news, CEO John P. Albright bought 4,200 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were acquired at an average price of $16.53 per share, with a total value of $69,426.00. Following the transaction, the chief executive officer owned 632,547 shares in the company, valued at $10,456,001.91. This represents a 0.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 8,950 shares of company stock worth $147,739 in the last ninety days. 4.00% of the stock is currently owned by company insiders.

CTO Realty Growth Trading Up 0.3%

Shares of NYSE:CTO opened at $16.38 on Monday. The firm has a market cap of $539.46 million, a price-to-earnings ratio of -14.24 and a beta of 0.75. The company has a quick ratio of 4.94, a current ratio of 4.94 and a debt-to-equity ratio of 1.05. CTO Realty Growth, Inc. has a 12 month low of $15.06 and a 12 month high of $20.88. The company’s fifty day simple moving average is $16.37 and its 200 day simple moving average is $17.24.

CTO Realty Growth Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Thursday, September 11th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 9.3%. The ex-dividend date of this dividend was Thursday, September 11th. CTO Realty Growth’s dividend payout ratio is currently -132.17%.

CTO Realty Growth declared that its Board of Directors has authorized a stock repurchase program on Wednesday, September 24th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the company to purchase up to 1.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

CTO Realty Growth 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.