Lazard Asset Management LLC Buys 3,176 Shares of CTO Realty Growth, Inc. (NYSE:CTO)

Posted by Defense World Staff on Mar 6th, 2023

Lazard Asset Management LLC raised its position in CTO Realty Growth, Inc. (NYSE:CTO – Get Rating) by 205.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,722 shares of the company’s stock after buying an additional 3,176 shares during the period. Lazard Asset Management LLC’s holdings in CTO Realty Growth were worth $88,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CTO. Asset Management One Co. Ltd. grew its holdings in shares of CTO Realty Growth by 156.3% during the third quarter. Asset Management One Co. Ltd. now owns 25,250 shares of the company’s stock worth $473,000 after purchasing an additional 15,399 shares in the last quarter. Hyman Charles D raised its position in shares of CTO Realty Growth by 200.0% in the 3rd quarter. Hyman Charles D now owns 36,963 shares of the company’s stock worth $693,000 after acquiring an additional 24,642 shares in the last quarter. Foundry Partners LLC lifted its stake in shares of CTO Realty Growth by 205.7% in the 3rd quarter. Foundry Partners LLC now owns 232,099 shares of the company’s stock valued at $4,350,000 after purchasing an additional 156,169 shares during the period. Russell Investments Group Ltd. boosted its position in shares of CTO Realty Growth by 203.7% during the third quarter. Russell Investments Group Ltd. now owns 349,959 shares of the company’s stock valued at $6,554,000 after purchasing an additional 234,729 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in CTO Realty Growth in the second quarter worth $96,000. 47.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Jonestrading cut their price objective on shares of CTO Realty Growth from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, January 6th. Raymond James lowered their price target on CTO Realty Growth from $26.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, January 4th. BTIG Research reduced their price objective on shares of CTO Realty Growth from $24.00 to $21.00 in a research note on Tuesday, December 27th. B. Riley dropped their target price on shares of CTO Realty Growth from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, February 28th. Finally, TheStreet downgraded shares of CTO Realty Growth from a “b-” rating to a “c” rating in a research report on Thursday, December 1st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CTO Realty Growth presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.40.

CTO Realty Growth Stock Performance

Shares of NYSE CTO opened at $17.53 on Monday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.88. The firm’s 50-day moving average price is $18.73 and its 200-day moving average price is $19.36. CTO Realty Growth, Inc. has a 52-week low of $16.88 and a 52-week high of $23.07. The company has a market cap of $403.40 million, a PE ratio of -219.13 and a beta of 0.81.

CTO Realty Growth Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Thursday, March 9th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.67%. The ex-dividend date is Wednesday, March 8th. CTO Realty Growth’s dividend payout ratio (DPR) is presently -1,900.00%.

CTO Realty Growth Company Profile

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CTO Realty Growth, Inc operates as a real estate company. It owns and manages commercial real estate properties. The company was founded in 1910 and is headquartered in Daytona Beach, FL.