CTO Realty Growth Inc- recently announced on May 22, 2023 that its board of directors has approved and declared a regular quarterly dividend of $0.38 per share ($1.52 annualized), which remains the same as the previous payout.
Shareholders must acquire shares before the ex-dividend date of June 7, 2023, to be eligible for the dividend. The payment will be made on June 30, 2023, and shareholders of record by June 8, 2023, will receive it.
With a current share price of $16.33 / share, the stock’s dividend yield stands at 9.31%.
Going back five years and reviewing a sample of every week, the average dividend yield was 3.79%, the lowest being 0.13%, and the highest being 9.38%. Notably, the standard deviation of yields is 3.56 (n=237).
Presently, the dividend yield lies 1.55 standard deviations above the historical average.
Furthermore, the company’s dividend payout ratio currently stands at -11.36, indicating how much of the company’s income is paid out in dividends. If the payout ratio is greater than one, the company is dipping into savings, thereby creating an unhealthy situation. Companies with limited growth prospects pay out most of their income in dividends, translating typically to a payout ratio between 0.5 and 1.0. In contrast, companies with good growth prospects tend to retain some of their earnings to invest in future growth prospects, resulting in a payout ratio of zero to 0.5.
Finally, the company’s 3-Year dividend growth rate stands at 3.56%, reflecting that it has increased its dividend over the years.
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What is the Fund Sentiment?
Currently, there are 296 funds or institutions reporting positions in CTO Realty Growth Inc-. In the last quarter, eight owners (2.78%) have increased their positions. The average portfolio weight of all funds devoted to CTO is 0.14%, representing a 0.67% decrease. The total shares owned by institutions have grown by 3.66% in the past three months, reaching 17,317K shares. 
CTO’s put/call ratio stands at 0.59, indicating an optimistic outlook.
Analyst Price Forecast suggests 30.72% Upside
CTO Realty Growth Inc-‘s average one-year price target, as of May 11, 2023, stands at 21.35, with forecasts ranging from a low of 17.17 to a high of $27.30. This represents an increase of 30.72% from its latest reported closing price of 16.33.
Check out our leaderboard of firms with the biggest price target upside.
CTO Realty Growth Inc-‘s projected annual revenue is projected at 96MM, representing a 6.58% increase. The projected annual non-GAAP EPS is -0.05.
What are Other Shareholders Doing?
Heitman Real Estate Securities owns 943K shares, which represent a 4.16% ownership of the firm. In its prior filing, it possessed 474K shares, indicating a 49.80% increase. The firm increased its portfolio allocation in CTO by 77.97% over the quarter.
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