CTO Realty Growth (NYSE:CTO) Announces Quarterly Earnings Results, Misses Estimates By $0.39 EPS

CTO Realty Growth (NYSE:CTO) released its earnings results on Tuesday. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.39), FiscalAI reports. The company had revenue of $46.91 million for the quarter, compared to analyst estimates of $45.21 million. CTO Realty Growth had a net margin of 32.63% and a return on equity of 8.90%.

CTO Realty Growth Price Performance

Shares of CTO stock traded down $0.15 during trading hours on Tuesday, hitting $19.48. The company had a trading volume of 363,488 shares, compared to its average volume of 330,827. CTO Realty Growth has a 12 month low of $16.17 and a 12 month high of $22.71. 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 firm’s fifty day moving average is $20.85 and its 200 day moving average is $20.19. The firm has a market capitalization of $730.49 million, a price-to-earnings ratio of 14.33 and a beta of 0.60.

CTO Realty Growth Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.8%. The ex-dividend date was Thursday, September 10th. CTO Realty Growth’s dividend payout ratio is currently 111.76%.

Analyst Ratings Changes

A number of brokerages have recently commented on CTO. Alliance Global Partners reaffirmed a “buy” rating on shares of CTO Realty Growth in a research report on Wednesday, July 29th. JonesTrading restated a “buy” rating and set a $24.00 price target on shares of CTO Realty Growth in a research note on Thursday, October 1st. Cantor Fitzgerald boosted their price target on CTO Realty Growth from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Zacks Research downgraded CTO Realty Growth from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Finally, Weiss Ratings lowered CTO Realty Growth from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $24.50.

CTO Realty Growth Company Profile

CTO Realty Growth, Inc is an internally managed real estate investment trust (REIT) that owns, manages and invests in income-producing commercial real estate. The company’s portfolio is focused primarily on open-air shopping centers and other retail properties, including locations anchored by grocery stores, home-improvement retailers and other necessity-based tenants.

The company also makes structured investments in commercial real estate and may pursue additional property investments in select markets.