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CTO Realty Growth

Consolidated-Tomoka Land

CTO Realty Growth Inc is a Florida-based real estate investment trust company, that owns income properties comprised of approximately 2.7 million square feet in diversified markets in the United States. Its portfolio of assets consists of Income Properties Portfolio, management services, Commercial Loan and Investments.

Consolidated-Tomoka Land Co. Common Stock

CTO Realty Growth Inc

CHINA TOB INTL HK CO LTD by China Tob Intl Hk Co Ltd.

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Charter Hall Group

CHINA TOWER CP UNSP/ADR by China Tower Corporation Limited

China Tower Corp Ltd

CTO Realty Growth, Inc. 6.375% Series A Cumulative Redeemable Preferred Stock

Raymond James analyst RJ Milligan upgrades CTO Realty Growth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTO#NYSE">CTO</a>) from Outperform to Strong Buy and raises the price target from $22 to $24.

News

Upgrades

Price Target

Analyst Ratings

Raymond James Upgrades CTO Realty Growth to Strong Buy, Raises Price Target to $24

Jones Trading analyst Jason Weaver maintains CTO Realty Growth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTO#NYSE">CTO</a>) with a Buy and maintains $22 price target.

Jones Trading Maintains Buy on CTO Realty Growth, Maintains $22 Price Target

CTO Realty Growth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTO#NYSE">CTO</a>) raises FY2024 Core FFO guidance from $1.81-1.86 to $1.83-1.87 vs $1.84 analyst estimate..

Guidance

CTO Realty Growth Raises FY2024 Core FFO Guidance from $1.81-1.86 to $1.83-1.87 vs $1.84 Est.

CTO Realty Growth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTO#NYSE">CTO</a>) reported quarterly earnings of $0.51 per share which beat the analyst consensus estimate of $0.45 by 13.33 percent. This is a 6.25 percent increase over earnings of $0.48 per share from the same period last year. The company reported quarterly sales of $31.805 million which beat the analyst consensus estimate of $30.116 million by 5.61 percent. This is a 11.71 percent increase over sales of $28.470 million the same period last year.

Earnings

Earnings Beats

CTO Realty Growth Q3 2024 FFO $0.51 Beats $0.45 Estimate, Sales $31.805M Beat $30.116M Estimate

Jones Trading analyst Jason Weaver maintains CTO Realty Growth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTO#NYSE">CTO</a>) with a Buy and raises the price target from $20.5 to $22.

Jones Trading Maintains Buy on CTO Realty Growth, Raises Price Target to $22

- Closed $274 Million in Investments Year-To-Date -
- Raised $126 Million Under ATM Program in Third Quarter -
- Closed $100 Million Unsecured Term Loan -
WINTER PARK, Fla., Sept. 30, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTO#NYSE">CTO</a>) an owner and operator of high-quality, open-air shopping centers located in the higher growth Southeast and Southwest markets of the United States (the "Company"), today provided a business update for the third quarter and year-to-date ended September 30, 2024.

CTO Realty Growth Provides 2024 Business Update; Closed $274M In Investments Year-To-Date; Raised $126M Under ATM Program In Q3; Closed $100M Unsecured Term Loan

Raymond James analyst RJ Milligan maintains CTO Realty Growth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTO#NYSE">CTO</a>) with a Outperform and raises the price target from $19 to $20.

Raymond James Maintains Outperform on CTO Realty Growth, Raises Price Target to $20

U.S. stock futures were lower this morning, with the Dow futures falling around 150 points on Wednesday.
Shares of GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) fell sharply in today's pre-market trading<a href="https://www.benzinga.com/news/24/09/40809198/gamestop-shares-tumble-11-in-premarket-whats-behind-the-sudden-drop"> following second-quarter results.</a>
GameStop reported second-quarter net sales of $798.0 million, which missed a Street consensus estimate of $895.7 million, according to data from Benzinga Pro. The company reported a profit of 1 cent per share, beating a Street consensus estimate of a loss of 9 cents per share.
GameStop shares dipped 10.5% to $20.98 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Rentokil Initial plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTO#NYSE">RTO</a>) shares fell 17.6% to $26.02 in pre-market trading.</li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares declined 16% to $15.65 in pre-market trading after gaining 3% on Tuesday.</li>
<li>Relay Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RLAY#NASDAQ">RLAY</a>) shares dipped 11.9% to $7.93 in pre-market trading. Relay Therapeutics priced its $200 million public offering of 28,571,429 common shares at $7/share.</li>
<li>CTO Realty Growth, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTO#NYSE">CTO</a>) fell 7.6% to $19.54 in pre-market trading after gaining over 8% on Tuesday.</li>
<li>The GEO Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEO#NYSE">GEO</a>) shares declined 7.2% to $12.50 in pre-market trading.</li>
<li>EVgo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVGO#NASDAQ">EVGO</a>) shares fell 6.1% to $3.82 in pre-market trading after adding over 5% on Tuesday.</li>
<li>Rollins, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROL#NYSE">ROL</a>) shares declined 6.1% to $48.00 in pre-market trading.</li>
<li>Petco Health and Wellness Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WOOF#NASDAQ">WOOF</a>) fell 5.5% to $2.90 in pre-market trading after reporting second-quarter results.</li>
</ul>
Now Read This:<a href="https://www.benzinga.com/news/24/09/40792510/jim-cramer-says-aes-is-very-inexpensive-recommends-buying-this-industrial-stock"> </a>
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40792510/jim-cramer-says-aes-is-very-inexpensive-recommends-buying-this-industrial-stock">Jim Cramer Says AES Is &#8216;Very Inexpensive&#8217;, Recommends Buying This Industrial Stock</a></li>
</ul>

Pre-Market Outlook

Markets

Movers

Trading Ideas

EVGO

RLAY

WOOF

GameStop Reports Weak Sales, Joins Petco, Relay Therapeutics And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

CTO Realty (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cto#NYSE">CTO</a>) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.
The sole determinant of the Zacks rating is a company&#39;s changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.
As such, the Zacks rating upgrade for CTO Realty is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
<h2>Most Powerful Force Impacting Stock Prices</h2>
The change in a company&#39;s future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That&#39;s partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company&#39;s shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for CTO Realty imply an improvement in the company&#39;s underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
<h2>Harnessing the Power of Earnings Estimate Revisions</h2>
Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988.
<h2>Earnings Estimate Revisions for CTO Realty</h2>
This real estate company is expected to earn $1.94 per share for the fiscal year ending December 2024, which represents a year-over-year change of 1.6%.
Analysts have been steadily raising their estimates for CTO Realty. Over the past three months, the Zacks Consensus Estimate for the company has increased 9.3%.
<h2>Bottom Line</h2>
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of &#39;buy&#39; and &#39;sell&#39; ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a &#39;Strong Buy&#39; rating and the next 15% get a &#39;Buy&#39; rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
The upgrade of CTO Realty to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
<a href="https://www.zacks.com/stock/news/2331631/cto-realty-cto-upgraded-to-buy-here-s-why?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_12_zacks_rank_upgrade-2331631">To read this article on Zacks.com click here.</a>

REIT

Small Cap

Real Estate

CTO Realty Upgraded to Buy: Here's Why

CTO Realty Growth Announced Closing The Acquisition Of A Portfolio Of Three Open-air Shopping Centers For A Purchase Price Of $137.5M

Raymond James analyst RJ Milligan maintains CTO Realty Growth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTO#NYSE">CTO</a>) with a Outperform and raises the price target from $20 to $22.

Raymond James Maintains Outperform on CTO Realty Growth, Raises Price Target to $22

Jones Trading analyst Jason Weaver maintains CTO Realty Growth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTO#NYSE">CTO</a>) with a Buy and raises the price target from $19 to $20.5.

Jones Trading Maintains Buy on CTO Realty Growth, Raises Price Target to $20.5

CTO Realty Growth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTO#NYSE">CTO</a>) reported quarterly earnings of $0.48 per share which beat the analyst consensus estimate of $0.39 by 23.08 percent. The company reported quarterly sales of $28.845 million which beat the analyst consensus estimate of $27.411 million by 5.23 percent. This is a 10.74 percent increase over sales of $26.047 million the same period last year.

CTO Realty Growth Q2 2024 FFO $0.48 Beats $0.39 Estimate, Sales $28.845M Beat $27.411M Estimate

Management

PINE

Alpine Income Property Trust Appoints Philip R. Mays As Senior VP, CFO, And Treasurer Effective June 17, 2024

JonesTrading analyst Jason Weaver maintains CTO Realty Growth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTO#NYSE">CTO</a>) with a Buy and lowers the price target from $21 to $19.

JonesTrading Maintains Buy on CTO Realty Growth, Lowers Price Target to $19

CTO Realty Growth Sees 2024 AFFO $1.74-$1.82

CTO Realty Growth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTO#NYSE">CTO</a>) reported quarterly earnings of $0.52 per share which beat the analyst consensus estimate of $0.39 by 33.33 percent. This is a 20.93 percent increase over earnings of $0.43 per share from the same period last year. The company reported quarterly sales of $28.127 million which missed the analyst consensus estimate of $29.914 million by 5.97 percent. This is a 13.80 percent increase over sales of $24.717 million the same period last year.

Earnings Misses

CTO Realty Growth Q1 2024 FFO $0.52 Beats $0.39 Estimate, Sales $28.127M Miss $29.914M Estimate

There are nice opportunities among REITs despite these equities being fairly dependent on the proponents of rate cuts. However, the concern of inflationary pressures impacting REITs may be overdone and many offer sizable dividends to support long-term investors.
To that point, earnings estimate revisions have risen for several REITs that have made their way onto the coveted Zacks Rank #1 (Strong Buy) list.
Even better, their affordability and reasonable valuations may also be appealing and more reassuring to investors. Furthermore, REITs can give investors valuable exposure to real estate assets without having to manage them directly or deal with overhead costs.
Keeping this scenario in mind, here are three of these highly-ranked REITs that investors will want to consider.
Gladstone Commercial (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/good#NASDAQ">GOOD</a>)
Focused on owning or investing in triple-net leased industrial and commercial real estate properties, Gladstone Commercial is a viable REIT with a 9% annual dividend at the moment. This blasts the S&amp;P 500&#39;s 1.31% average and even towers over the Zacks REIT and Equity Trust-Other Industry average of 4.4%. Furthermore, Gladstone makes its dividend payout monthly which has been the company&#39;s goal to further appease shareholders.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/d4/64825.jpg?v=1475658882" /> 
Image Source: Zacks Investment Research
More appealing, Gladstone&#39;s stock is up a respectable +8% over the last year and has a low volatile 52-week range with lows of $10.84 a share last May to highs of $14.14 in August. Currently trading at $13 a share and 9.6X forward earnings, Gladstone&#39;s stock trades pleasantly below the industry average of 14.6X. Plus, over the last 60 days, earnings estimate revisions are nicely up for FY24 and FY25 which suggests more upside ahead.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ab/64826.jpg?v=743711250" /> 
Image Source: Zacks Investment Research
CTO Reality Growth (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cto#NYSE">CTO</a>)
Rising earnings estimates are very compelling for CTO Reality Growth which operates a portfolio of retail-based properties primarily in Florida. Operating in high-growth markets, CTO&#39;s fiscal 2024 earnings estimates have risen 10% in the last two months while FY25 EPS estimates have spiked 12%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/3e/64827.jpg?v=225201923" /> 
Image Source: Zacks Investment Research
More importantly, CTO&#39;s stock trades just under $17 and at a 9.5X forward earnings multiple which is a nice discount to the Zacks REIT and Equity Trust-Other Industry average. However, most appealing is that CTO has a beta ratio of 0.77 which is below the optimum level of 1.0 and suggests its stock should be less volatile than the broader market.
Notably, CTO has a low volatile 52-week range as well with lows of $15.63 in October to highs of $18.03 last August. Making CTO&#39;s low volatility more enticing is a 9.1% annual dividend that impressively tops the industry average. It&#39;s also noteworthy that CTO has increased its payout eight times in the last five years with an eye-popping annualized dividend growth rate of 64.81% during this period.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b5/64828.jpg?v=405885270" /> 
Image Source: Zacks Investment Research
Host Hotels &amp; Resorts (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hst#NASDAQ">HST</a>)
Rounding out the list is Host Hotels &amp; Resorts, one of the leading lodging real estate investment trusts that engages in the ownership, acquisition, and redevelopment of luxury or upper-scale hotels in the United States and abroad.
Offering a 3.97% annual dividend yield, Host Hotels&#39; stock is up 5% YTD and has now soared +24% over the last year. Trading at $20 a share and not far from its 52-week peak it hit last month, Host Hotels&#39; stock still trades below the Zacks REIT and Equity Trust-Other industry&#39;s P/E average at 10.5X forward earnings.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/67/64829.jpg?v=1989766594" /> 
Image Source: Zacks Investment Research
Better still, FY24 and FY25 EPS estimates have risen 2% over the last 30 days respectively with Host Hotels&#39; annual earnings now forecasted to rise 2% this year and projected to edge up another 2% next year to $2.01 per share.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ff/64830.jpg?v=2027742498" /> 
Image Source: Zacks Investment Research
Bottom Line
Rising earnings estimates make these highly-ranked REITs very attractive and are starting to confirm their stocks are cheap outside of their affordable price tags. Considering their generous dividends now looks like an ideal time to buy.
<a href="https://www.zacks.com/stock/news/2254183/3-affordable-reits-to-buy-while-others-are-fearful?cid=CS-BENZ-FT-video_blog-2254183">To read this article on Zacks.com click here.</a>

GOOD

3 Affordable REITs to Buy While Others Are Fearful

Alliance Global Partners analyst Gaurav Mehta initiates coverage on CTO Realty Growth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTO#NYSE">CTO</a>) with a Buy rating and announces Price Target of $20.

Initiation

Alliance Global Partners Initiates Coverage On CTO Realty Growth with Buy Rating, Announces Price Target of $20

CTO Realty Growth, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTO#NYSE">CTO</a>) (the "Company" or "CTO") today announced the closing of the sale of its mixed-use property totaling approximately 136,000 square feet in downtown Santa Fe, New Mexico (the "Property"). The Property was sold for approximately $20.0 million, representing an exit cap rate within the range of the Company's current guidance for disposition cash yields and generating a gain on sale of approximately $4.6 million. &nbsp;
"In recent months, we have successfully sold many of our smaller non-core properties and nearly all of our legacy office exposure," said John P. Albright, President and Chief Executive Officer of CTO Realty Growth, Inc. "We anticipate using the proceeds from this sale to fund the acquisition of a core power center in the Orlando MSA, which we expect to close in the first quarter of 2024."
The Company expects to utilize the sales proceeds as part of a Section 1031 like-kind exchange (the "1031 Exchange"). Following the completion of the 1031 Exchange, the Company intends to use available proceeds to repay a portion of the outstanding balance under its revolving unsecured credit facility or fund future acquisitions. With the closing of this transaction, the Company has approximately $30.7 million of proceeds held in 1031 restricted cash accounts.

Asset Sales

CTO Realty Growth Announces Sale Of Mixed-Use Property In Santa Fe, New Mexico For $20M

CTO Realty: Long Growth Runway And Valuation Make Them A Buy

The Real Value Of CTO Realty Growth Is In Its Series A Preferred Stock

3 Big Dividends Backed By High-Quality Assets

CTO Realty Growth (CTO) added its second grocery anchored property in the Tampa, Florida market with the acquisition of Granada Plaza for $16.8M, p...

CTO Realty Growth acquires grocery anchored property in Tampa, Florida

CTO Realty acquires grocery anchored property Granada Plaza for $16.8M

Powell Plays Grinch

KBWY: The 8.80% Dividend Yield May Start Growing Again In 2025

CTO Realty: Relative Value Is In Store

CTO Realty: Too Cheap For Its Growth Prospects

Alpine Income Property Trust: Dividend Growth Rooted In Portfolio Quality

APLE

BALY

BBRE

CHCT

CMTG

CUBE

CURB

FCPT

FREL

GLPI

GMRE

IIPR

KBWY

MSOS

NXDT

PLYM

PPTY

RDFN

SCHH

SEVN

SITC

SRVR

STRW

USRT

VICI

VRAI

XLRE

Financing

Press Releases

CTO Realty Growth Announces Third Quarter 2024 Investment and Leasing Update

Dividends

CTO Realty Growth Declares Dividends for the Third Quarter 2024

CTO Realty Growth Completes Three Property Portfolio  Acquisition and Disposition of Jordan Landing

CTO Realty Growth Announces Third Quarter 2024 Earnings Release and Conference Call Information

CTO Realty Growth Provides 2024 Business Update

CTO Realty Growth Reports Third Quarter 2024 Operating Results

CTO Realty Growth Originates a First Mortgage Loan for Whole Foods Market Anchored Development Neighboring The Collection at Forsyth

CTO Realty Growth Declares Dividends for the Fourth Quarter 2024

KBW Announces Index Rebalancing for Fourth-Quarter 2024

CTO Realty Growth Expands Presence In Tampa Metro Area with Acquisition of Grocery Anchored Property

ACRE

ARES

CFFN

CGBD

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CLPR

CSWC

EEFT

EGBN

FFIC

FICO

GWRE

HOOD

IBKR

KREF

KRNY

MAIN

NMFC

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PAYO

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PSEC

QTWO

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SEIC

TPVG

TRTX

UPST

VIRT

American Assets Trust

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Armada Hoffler Properties

Alexander & Baldwin, Inc. Common Stock REIT Holding Company

Alexander & Baldwin

Broadstone Net Lease

Essential Properties Realty Trust, Inc. Common Stock

Essential Props Realty

Empire State Realty OP, L.P. Series ES Operating Partnership Units Representing Limited Partnership Interests

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