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

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

CTO Realty Growth has increased its dividend payment by an average of 0.6%annually over the last three years. CTO Realty Growth has a dividend 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

Shares of CTO stock opened at $17.24 on Wednesday. The stock has a 50 day moving average price of $16.39 and a 200 day moving average price of $17.12. CTO Realty Growth has a 52-week low of $15.06 and a 52-week high of $20.88. The company has a debt-to-equity ratio of 1.08, a quick ratio of 4.94 and a current ratio of 3.96. The firm has a market capitalization of $557.93 million, a P/E ratio of -13.36 and a beta of 0.76.

CTO Realty Growth (NYSE:CTO) last released 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 return on equity of 5.72% and a negative net margin of 22.77%.The business had revenue of $34.62 million during 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, sell-side analysts predict that CTO Realty Growth will post 1.92 earnings per share for the current year.

Insider Transactions at CTO Realty Growth

In related news, CEO John P. Albright purchased 2,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were acquired at an average cost of $16.38 per share, for a total transaction of $32,760.00. Following the acquisition, the chief executive officer owned 634,547 shares of the company’s stock, valued at $10,393,879.86. The trade was a 0.32% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders acquired 8,950 shares of company stock worth $147,739. 4.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CTO Realty Growth

A number of hedge funds have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in CTO Realty Growth in the first quarter valued at about $258,000. Triumph Capital Management boosted its holdings in shares of CTO Realty Growth by 9.7% in the 1st quarter. Triumph Capital Management now owns 15,628 shares of the company’s stock valued at $302,000 after buying an additional 1,388 shares in the last quarter. LSV Asset Management grew its position in shares of CTO Realty Growth by 51.7% in the 1st quarter. LSV Asset Management now owns 578,917 shares of the company’s stock worth $11,179,000 after buying an additional 197,337 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of CTO Realty Growth by 9.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,156 shares of the company’s stock worth $273,000 after acquiring an additional 1,248 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of CTO Realty Growth by 13.0% during the 1st quarter. Vanguard Group Inc. now owns 2,842,294 shares of the company’s stock worth $54,885,000 after acquiring an additional 327,505 shares in the last quarter. 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.