Miller Value Partners LLC recently announced the acquisition of new stake in CTO Realty Growth Inc. (NYSE:CTO). The institutional investor has increased its shareholding in the Real Estate company by 26.32% to 0.36 million shares with purchase of 75000.0 shares. This fresh investment now brings its stake to 1.61% valued currently at $6.58 million. In addition, Russell Investment Management LLC raised its holdings by 4269.0 to 0.35 million shares.
With over 0.12 million CTO Realty Growth Inc. (CTO) shares trading Monday and a closing price of $18.66 on the day, the dollar volume was approximately $2.22 million. The shares have shown a negative half year performance of -12.52% and its price on 01/23/23 gained nearly 0.21%. Currently, there are 22.39M common shares owned by the public and among those 20.19M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for CTO have a consensus price objective of $23.00. The analysts have set the share’s price value over the next 12 months at a high of $26.00 and a low of $21.00. The average price target is 18.87% above its recent price level and an upside to the estimated low will see the stock gain 11.14% over that period. But an upside of 28.23% will see the stock hit the forecast high price target while median target price for the stock is $22.00.
Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 42 of these insider trades were purchases, accounting for 146,603 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 20,860 shares.
The top 3 mutual fund holders in CTO Realty Growth Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Miller Income Fund. Vanguard Total Stock Market Index owns 0.63 million shares of the company’s stock, all valued at over $11.52 million. The company bought an additional 0.14 million shares recently to bring their total holdings to about 2.82% of the shares outstanding. iShares Russell 2000 ETF sold 4209.0 shares to see its total holdings shrink to 0.4 million shares valued at over $7.38 million and representing 1.80% of the shares outstanding. Miller Income Fund bought 21900.0 shares to bring its total holdings to over 0.38 million shares at a value of $6.98 million. Miller Income Fund now owns shares totaling to 1.71% of the shares outstanding.
Shares of CTO Realty Growth Inc. (NYSE: CTO) opened at $18.54, down -$0.08 from a prior closing price of $18.62. However, the script later moved the day high at 18.75, up 0.21%. The company’s stock has a 5-day price change of -0.43% and 0.43% over the past three months. CTO shares are trading 2.08% year to date (YTD), with the 12-month market performance down to -6.23% lower. It has a 12-month low price of $17.18 and touched a high of $23.07 over the same period. CTO has an average intraday trading volume of 186.14K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.54%, -2.36%, and -7.72% respectively.
Institutional ownership of CTO Realty Growth Inc. (NYSE: CTO) shares accounts for 49.40% of the company’s 22.39M shares outstanding. Mutual fund holders own 26.71%, while other institutional holders and individual stakeholders account for 4.76% and 22.08% respectively.
It has a market capitalization of $411.08M and a beta (3y monthly) value of 0.76. The stock’s trailing 12-month PE ratio is 120.39, while the earnings-per-share (ttm) stands at $0.15. The company has a debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.90% over the week and 2.18% over the month.
Analysts forecast that CTO Realty Growth Inc. (CTO) will achieve an EPS of $0.01 for the current quarter, -$0.02 for the next quarter and $0.01 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.16 while analysts give the company a high EPS estimate of $0.16. Comparatively, EPS for the current quarter was $0.04 a year ago. Earnings per share for the fiscal year are expected to increase by 785.40%, and -169.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate CTO Realty Growth Inc. (CTO) as a “Strong Buy” at a consensus score of 1.90. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 1 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CTO, a number of firms have released research notes about the stock. Raymond James stated their Outperform rating for the stock in a research note on June 17, 2022, with the firm’s price target at $69. BTIG Research coverage for the CTO Realty Growth Inc. (CTO) stock in a research note released on May 28, 2021 offered a Buy rating with a price target of $60. Compass Point was of a view on May 03, 2021 that the stock is Neutral, while Compass Point gave the stock Buy rating on November 03, 2020, issuing a price target of $72. B. Riley Securities on their part issued Buy rating on November 02, 2020.
