Stock fact sheet · data as of
CTO Realty Growth, Inc. (CTO): fair value, margin of safety and Wheel Score
Ticker symbol CTO · Real Estate · REIT - Diversified · United States · Blend Income
Is CTO undervalued?
CTO closed at 20.46 on 5 Nov 2026, 26% below the GLS average fair value of 27.48 from 9 models (5 of them above the price). That is a moderate margin of safety: the stock passes the "below fair value" Wheel Trade Filter, with room for a bigger discount on the Value part.
The 9 models disagree widely: Payback Time gives 2.33 while DCF gives 91.68. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
Ranked against every other company we cover, neither cheapness nor growth clearly wins for CTO, so the nightly engine files it under Blend (value score 56, growth score 55, out of 100). It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for CTO
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 91.68 | +348% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 22.00 | +8% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 55.38 | +171% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 23.28 | +14% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 4.58 | -78% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 12.57 | -39% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 2.33 | -89% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 22.37 | +9% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 13.17 | -36% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -12.50 | -161% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 24.67 | +21% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - CTO passes 5 of the nine Piotroski tests, which falls one point short of the "Piotroski 6 or more" Wheel Trade Filter. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is low at 4.6 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.
Returns on capital are thin or negative - ROIC 0.9%, ROE 1.8%, ROA 0.8% - with debt at 1.09 times equity and a free-cash-flow yield of 0.6%.
The dividend yield is high at 7.43% (payout ratio 137%) - a payout above 100% of earnings, which is not covered by profits. A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Income Properties 100% (quarter Q3 FY2026).
Institutional ownership scores 9/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | 0.9% |
|---|---|---|---|
| GLS Moat | 4.6 / 10 | ROE | 1.8% |
| Debt / equity | 1.09 | ROA | 0.8% |
| Free-cash-flow yield | 0.6% | Payout ratio | 137% |
| Institutions | 9 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 36: Weak
CTO scores 36 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 1, options that actually trade - options too quiet (531 open interest, 120 a day); and filter 4, financially healthy - Piotroski 5/9 (under 6); and filter 5, can repay its debt - 9.5 years to repay its debt (over 6); and filter 8, big enough - market cap $793M (under $1.0B), and the parts are thin too - value strong, premium fair, moat fair, health fair, red flags fair, option trading weak, stability fair. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 28% on the near-the-money contracts 20-60 days out: enough to pass the 25-80% Wheel Trade Filter, but under the 35-60% sweet spot the score rewards most. Chain open interest is thin - 531 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 380k shares a day on a market cap of $793M, with a beta of 0.66 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (531 open interest, 120 a day) |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Fails | Piotroski 5/9 (under 6) |
| 5 | Can repay its debt | Fails | 9.5 years to repay its debt (over 6) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Fails | market cap $793M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 26% below fair value | |
| Premium | Fair | implied volatility 28% | |
| Moat | Fair | moat 4.6/10 | |
| Health | Fair | Piotroski 5/9 | |
| Red Flags | Fair | Red Flags score 75/100 | |
| Option trading | Weak | 120 contracts a day, 531 open interest | |
| Stability | Fair | beta 0.66, $793M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for CTO in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in REIT - Diversified
The 12 companies below are the closest to CTO Realty Growth, Inc. by market cap within the REIT - Diversified industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| SAFE Safehold Inc. | 10.77 | 17.27 | +38% | 41Weak | $763M |
| JBGS JBG SMITH Properties | 12.29 | 8.93 | -38% | 29Weak | $720M |
| ESRT Empire State Realty Trust, Inc. | 5.27 | 4.72 | -12% | 30Weak | $907M |
| AHRT AH Realty Trust, Inc. | 6.78 | 21.86 | +69% | 39Weak | $650M |
| CMRF CIM Real Estate Finance Trust, Inc. | 2.35 | 3.47 | +32% | 29No options | $1.0B |
| SCCE Sachem Capital Corp. 6.00% Note | 24.42 | 19.47 | -25% | 10No options | $1.1B |
| GOOD Gladstone Commercial Corporation | 10.89 | 15.85 | +31% | 46Weak | $527M |
| GOODO Gladstone Commercial Corporation | 17.60 | 17.68 | +0% | 21No options | $527M |
| GOODN Gladstone Commercial Corp Pref | 19.18 | 18.11 | -6% | 21No options | $527M |
| OLP One Liberty Properties, Inc. | 21.94 | 16.58 | -32% | 27Weak | $479M |
| FVR FrontView REIT, Inc. | 19.30 | 24.50 | +21% | 26No options | $472M |
| AAT American Assets Trust, Inc. | 22.09 | 18.10 | -22% | 34Weak | $1.4B |
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about CTO
Is CTO undervalued right now?
By the GLS models, moderately: at 20.46 the stock trades 26% below the average fair value of 27.48 (data as of 5 Nov 2026).
What is the Wheel Score of CTO and what does it mean?
CTO scores 36 out of 100 (Weak) - it fails Wheel Trade Filters 1, 4, 5, 8. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for CTO?
27.48 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does CTO Realty Growth, Inc. report earnings next?
No upcoming earnings date is recorded for CTO in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does CTO have listed options, and how liquid are they?
Yes. The nightly snapshot found 24 listed contracts with 531 open interest across all expiries and implied volatility of 28% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.