CTO Realty Growth price target lowered to $19 from $21 at BTIG

BTIG lowered the firm’s price target on CTO Realty Growth to $19 from $21 and keeps a Buy rating on the shares. The company’s investment story has had a number of moving pieces in recent periods including continued capital recycling to refine and improve their portfolio, active leasing to deal with tenant opportunities and challenges, and tactically repurchasing liabilities in the open market, the analyst tells investors in a research note. While the improving portfolio and upgraded tenancy should drive long-term value for the portfolio and shareholders, it does create near-term headwinds on CTO’s smaller base, the firm adds.