CTO Realty Growth, Inc. (NYSE:CTO – Get Free Report) announced a quarterly dividend on Tuesday, August 18th. Investors of record on Thursday, September 10th will be given a dividend of 0.38 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Thursday, September 10th.
CTO Realty Growth has decreased its dividend by an average of 0.2%annually over the last three years. CTO Realty Growth has a dividend payout ratio of 633.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect CTO Realty Growth to earn $2.30 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 66.1%.
CTO Realty Growth Stock Performance
Shares of CTO stock opened at $22.00 on Thursday. The stock has a fifty day moving average price of $21.59 and a 200 day moving average price of $20.22. The company has a debt-to-equity ratio of 0.99, a quick ratio of 8.69 and a current ratio of 8.69. The stock has a market cap of $824.74 million, a PE ratio of 16.18 and a beta of 0.60. CTO Realty Growth has a 1 year low of $15.06 and a 1 year high of $22.71.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in CTO Realty Growth in the 2nd quarter valued at about $77,576,000. Vanguard Group Inc. raised its position in shares of CTO Realty Growth by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 3,166,067 shares of the company’s stock valued at $58,287,000 after buying an additional 26,760 shares during the last quarter. Geode Capital Management LLC raised its position in shares of CTO Realty Growth by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 814,270 shares of the company’s stock valued at $14,994,000 after buying an additional 13,592 shares during the last quarter. Invesco Ltd. lifted its stake in shares of CTO Realty Growth by 27.1% during the third quarter. Invesco Ltd. now owns 664,295 shares of the company’s stock valued at $10,828,000 after buying an additional 141,574 shares during the period. Finally, Miller Value Partners LLC acquired a new stake in CTO Realty Growth during the second quarter worth approximately $11,613,000. Institutional investors and hedge funds own 67.18% of the company’s stock.
CTO Realty Growth Company Profile
CTO Realty Growth, Inc is a publicly traded real estate investment trust (REIT) that specializes in single-tenant net lease properties. The company’s primary focus is on acquiring, owning and managing retail assets leased to creditworthy operators under long-term, triple-net lease agreements. By targeting essential retail segments, CTO Realty Growth seeks to generate stable, inflation-protected income streams while maintaining a disciplined investment approach.
The REIT’s portfolio is concentrated in convenience store and fuel service locations, with additional assets in other retail categories where net lease structures prevail.
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