CTO Realty Growth price target raised to $22 from $20 at Raymond James

Raymond James raised the firm’s price target on CTO Realty Growth to $22 from $20 and keeps an Outperform rating on the shares. The firm sees more upside in the “lower multiple” shopping center real estate investment trusts and those trading at discounts to net asset value. The analyst views the shopping center REITs as one of the more attractive sub-sectors in the general REIT space saying it’s one of the few sectors trading at both an NAV and multiple discount while earnings growth is accelerating. Raymond James sees lower interest rates as a potential catalyst for the shares.