CTO Realty Growth, Inc. (NYSE:CTO) Declares $0.38 Quarterly Dividend

CTO Realty Growth, Inc. (NYSE:CTOGet Free Report) announced a quarterly dividend on Tuesday, May 28th, Zacks reports. Shareholders of record on Thursday, June 13th will be given a dividend of 0.38 per share on Friday, June 28th. This represents a $1.52 dividend on an annualized basis and a yield of 8.75%. The ex-dividend date is Thursday, June 13th.

CTO Realty Growth has raised its dividend payment by an average of 33.9% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. CTO Realty Growth has a dividend payout ratio of -1,520.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect CTO Realty Growth to earn $1.75 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 86.9%.

CTO Realty Growth Price Performance

NYSE CTO traded down $0.11 during trading on Wednesday, reaching $17.37. 20,086 shares of the company traded hands, compared to its average volume of 124,252. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.74 and a current ratio of 4.74. The stock’s 50 day moving average price is $17.13 and its two-hundred day moving average price is $16.98. The company has a market cap of $398.64 million, a price-to-earnings ratio of 31.78 and a beta of 0.74. CTO Realty Growth has a 1-year low of $15.63 and a 1-year high of $18.03.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. B. Riley reiterated a “buy” rating on shares of CTO Realty Growth in a research note on Friday, February 2nd. Alliance Global Partners assumed coverage on shares of CTO Realty Growth in a research report on Monday, April 8th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Jonestrading dropped their price objective on shares of CTO Realty Growth from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, May 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.33.

View Our Latest Report on CTO

About CTO Realty Growth

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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.

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Dividend History for CTO Realty Growth (NYSE:CTO)

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