CTO Realty Growth (NYSE:CTO) Releases FY 2024 Earnings Guidance

CTO Realty Growth (NYSE:CTO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.950-2.000 for the period, compared to the consensus EPS estimate of 1.640. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Alliance Global Partners initiated coverage on CTO Realty Growth in a research note on Monday, April 8th. They set a buy rating and a $20.00 price target on the stock. Jonestrading dropped their price objective on shares of CTO Realty Growth from $21.00 to $19.00 and set a buy rating on the stock in a research note on Monday, May 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $19.33.

CTO Realty Growth Trading Up 3.3 %

CTO stock traded up $0.63 during mid-day trading on Friday, reaching $19.61. 207,037 shares of the stock traded hands, compared to its average volume of 144,264. The stock’s fifty day moving average is $17.80 and its 200-day moving average is $17.21. The company has a current ratio of 4.74, a quick ratio of 4.74 and a debt-to-equity ratio of 1.17. The company has a market cap of $450.05 million, a P/E ratio of 35.66 and a beta of 0.76. CTO Realty Growth has a 52-week low of $15.63 and a 52-week high of $19.76.

CTO Realty Growth (NYSE:CTO) last announced its quarterly earnings results on Thursday, July 25th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.42). The company had revenue of $28.85 million for the quarter, compared to analyst estimates of $27.46 million. CTO Realty Growth had a net margin of 14.52% and a return on equity of 3.59%. During the same quarter last year, the business earned $0.48 EPS. As a group, sell-side analysts expect that CTO Realty Growth will post 1.61 earnings per share for the current year.

CTO Realty Growth Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were issued a dividend of $0.38 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.75%. CTO Realty Growth’s payout ratio is presently 276.37%.

Insider Activity at CTO Realty Growth

In other news, major shareholder Cto Realty Growth, Inc. acquired 6,562 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was purchased at an average cost of $14.99 per share, for a total transaction of $98,364.38. Following the completion of the transaction, the insider now directly owns 202,918 shares in the company, valued at $3,041,740.82. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired 21,804 shares of company stock valued at $326,747 over the last ninety days. 5.00% of the stock is owned by insiders.

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.