CTO Realty sets new $10M stock buyback plan

CTO Realty Growth has announced a new stock repurchase program with a budget of up to $10 million, following a successful $5 million program that repurchased approximately $4.3 million in shares.

The company has the flexibility to repurchase shares through various methods, such as open market transactions and private agreements, depending on market conditions.

The new program does not set a mandatory minimum for the number of shares to be repurchased, allowing CTO to adjust or pause the program as needed.

Recommendation Rating: Positive Outlook

CTO Realty Growth (NYSE:CTO) recently announced that its board of directors has authorized a new stock repurchase program, allocating up to $10 million for this initiative. This decision follows the completion of its previous $5 million repurchase program, during which the company successfully bought back approximately $4.3 million worth of shares in the last two months.

Under the newly approved plan, CTO has the flexibility to repurchase shares through various means, including open market transactions, block trades, private agreements, or structured trading plans in accordance with Rule 10b5-1, all contingent on prevailing market conditions. Notably, the program does not impose a mandatory minimum on the amount of shares to be repurchased, allowing for adjustments, pauses, or termination at the company's discretion.

Source: Press Release