CTO Realty Growth, Inc. (NYSE: CTO) experienced a significant decline in short interest during February 2024, with a drop of 31.7%. As of February 27, the total short interest stood at 605,843 shares, down from 887,255 shares reported on February 12. Currently, approximately 1.9% of the company’s shares are short sold, indicating a relatively low level of bearish sentiment among investors. The average daily trading volume for CTO Realty Growth is 283,240 shares, leading to a days-to-cover ratio of 2.1 days.
Market Analyst Perspectives
Several analysts have recently shared their insights on CTO Realty Growth’s stock. On February 24, JonesTrading reaffirmed a “buy” rating, setting a target price of $21.00. Conversely, Zacks Research downgraded the stock from a “strong buy” to a “hold” rating on December 9. Alliance Global Partners also maintained a “buy” rating as of February 20. Notably, Weiss Ratings improved the stock’s rating from “sell (d+)” to “hold (c-)” on February 4, which coincided with Cantor Fitzgerald upgrading the stock to a “strong buy” the same day.
Overall, two investment analysts have rated CTO Realty Growth as a Strong Buy, while two others have given it a Buy rating. The remaining two analysts have assigned a Hold rating, resulting in an average rating of “Buy” according to data from MarketBeat.com.
Stock Performance and Earnings Report
CTO Realty Growth shares opened at $18.71 on February 26, 2024. The company boasts a market capitalization of $609.20 million, a price-to-earnings (P/E) ratio of 207.91, and a beta of 0.59. Over the past year, the stock has fluctuated between a low of $15.06 and a high of $20.25. The 50-day moving average price is $18.68, while the 200-day moving average stands at $17.61.
CTO Realty Growth recently announced its quarterly earnings on February 19, where it reported earnings per share (EPS) of $0.82, surpassing analysts’ expectations of $0.50 by $0.32. The company recorded revenue of $38.34 million for the quarter, exceeding projected revenues of $37.91 million. Additionally, CTO Realty Growth reported a return on equity of 1.76% and a net margin of 6.75%. The company has forecasted its fiscal year 2026 guidance at an EPS of between $2.110 and $2.160. Analysts predict an average EPS of $1.92 for the current year.
In addition to its financial performance, CTO Realty Growth has declared a quarterly dividend of $0.38, set to be paid on March 31, 2024. Shareholders on record by March 12 will receive this dividend, with the ex-dividend date also falling on March 12. This dividend represents an annualized total of $1.52, yielding approximately 8.1%. However, it is noteworthy that the company’s dividend payout ratio (DPR) is exceptionally high at 1,688.89%.
About CTO Realty Growth
CTO Realty Growth, Inc. is a publicly traded real estate investment trust (REIT) specializing in single-tenant net lease properties. The firm focuses on acquiring, owning, and managing retail assets leased to creditworthy operators through long-term, triple-net lease agreements. By concentrating on essential retail segments, CTO Realty Growth aims to generate stable, inflation-protected income streams while adhering to a disciplined investment strategy. Its portfolio primarily features convenience stores and fuel service locations, alongside other retail assets governed by net lease structures.
Investors and analysts alike continue to monitor CTO Realty Growth’s performance as it navigates the complexities of the real estate market.
