Consolidated-Tomoka Land Co. (CTO) Receives “Buy” Rating from FBR & Co
Separately, Zacks Investment Research raised shares of Consolidated-Tomoka Land from a “hold” rating to a “strong-buy” rating and set a $66.00 target price on the stock in a research note on Friday, July 21st.
Consolidated-Tomoka Land (NYSE:CTO) traded down 5.00% during trading on Thursday, reaching $56.05. 7,933 shares of the company were exchanged. The company has a market capitalization of $312.82 million and a P/E ratio of 10.64. The firm’s 50-day moving average is $57.99 and its 200 day moving average is $55.65. Consolidated-Tomoka Land has a one year low of $48.65 and a one year high of $61.70.
Consolidated-Tomoka Land (NYSE:CTO) last announced its earnings results on Wednesday, October 18th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.04). The company had revenue of $12.38 million during the quarter, compared to analysts’ expectations of $15.03 million. Consolidated-Tomoka Land had a net margin of 16.11% and a return on equity of 9.30%.
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In related news, CFO Mark E. Patten bought 1,462 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were acquired at an average cost of $53.83 per share, with a total value of $78,699.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in Consolidated-Tomoka Land by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 207,369 shares of the company’s stock valued at $11,810,000 after purchasing an additional 11,508 shares in the last quarter. Vanguard Group Inc. raised its stake in Consolidated-Tomoka Land by 0.9% in the second quarter. Vanguard Group Inc. now owns 198,135 shares of the company’s stock valued at $11,284,000 after purchasing an additional 1,788 shares in the last quarter. State Street Corp raised its stake in Consolidated-Tomoka Land by 7.6% in the second quarter. State Street Corp now owns 83,606 shares of the company’s stock valued at $4,764,000 after purchasing an additional 5,901 shares in the last quarter. Northern Trust Corp raised its stake in Consolidated-Tomoka Land by 3.7% in the second quarter. Northern Trust Corp now owns 68,781 shares of the company’s stock valued at $3,917,000 after purchasing an additional 2,426 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Consolidated-Tomoka Land by 1.0% in the second quarter. Wells Fargo & Company MN now owns 54,265 shares of the company’s stock valued at $3,090,000 after purchasing an additional 538 shares in the last quarter.
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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