Consolidated-Tomoka Land Co. (CTO) Given a $80.00 Price Target by FBR & Co Analysts
Separately, Zacks Investment Research upgraded shares of Consolidated-Tomoka Land from a hold rating to a strong-buy rating and set a $66.00 price target on the stock in a research note on Friday, July 21st.
Shares of Consolidated-Tomoka Land (CTO) traded up 1.5762% during mid-day trading on Tuesday, hitting $59.4424. 1,211 shares of the company’s stock were exchanged. Consolidated-Tomoka Land has a 52 week low of $48.65 and a 52 week high of $61.70. The firm has a 50 day moving average price of $58.45 and a 200-day moving average price of $55.87. The company has a market capitalization of $334.54 million and a price-to-earnings ratio of 11.2708.
Consolidated-Tomoka Land (NYSE:CTO) last posted its quarterly earnings results on Wednesday, October 18th. The company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.04). Consolidated-Tomoka Land had a return on equity of 9.30% and a net margin of 16.11%. The business had revenue of $12.38 million for the quarter, compared to analyst estimates of $15.03 million.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Friday, November 10th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, November 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.34%.
In other Consolidated-Tomoka Land news, CFO Mark E. Patten sold 2,640 shares of Consolidated-Tomoka Land stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $54.88, for a total transaction of $144,883.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several hedge funds and other institutional investors have recently modified their holdings of CTO. Sorin Capital Management LLC bought a new position in shares of Consolidated-Tomoka Land during the second quarter valued at $2,887,000. Ativo Capital Management LLC bought a new position in shares of Consolidated-Tomoka Land during the second quarter valued at $1,253,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Consolidated-Tomoka Land by 173.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 26,204 shares of the company’s stock valued at $1,493,000 after acquiring an additional 16,604 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Consolidated-Tomoka Land by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 207,369 shares of the company’s stock valued at $11,810,000 after acquiring an additional 11,508 shares during the period. Finally, OxFORD Asset Management LLP bought a new position in shares of Consolidated-Tomoka Land during the second quarter valued at $630,000.
Consolidated-Tomoka Land Company Profile
Consolidated-Tomoka Land Co is a real estate operating company. As of December 31, 2016, the Company owned and managed 31 commercial real estate properties in 10 states in the United States. Its segments include Income Properties, Commercial Loan Investments, Real Estate Operations, Golf Operations, and Agriculture and Other.
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