Consolidated-Tomoka Land Co. (NYSEAMERICAN:CTO) – Equities research analysts at B. Riley lifted their Q2 2018 earnings per share (EPS) estimates for shares of Consolidated-Tomoka Land in a report issued on Thursday. B. Riley analyst D. Corak now forecasts that the financial services provider will post earnings per share of $1.26 for the quarter, up from their prior forecast of $1.16. B. Riley currently has a “Buy” rating and a $82.00 target price on the stock. B. Riley also issued estimates for Consolidated-Tomoka Land’s Q4 2018 earnings at $5.03 EPS, FY2018 earnings at $8.34 EPS, Q3 2019 earnings at $1.59 EPS and Q4 2019 earnings at $1.38 EPS.
Several other equities analysts have also issued reports on CTO. FBR & Co restated a “buy” rating on shares of Consolidated-Tomoka Land in a research report on Thursday, October 19th. Zacks Investment Research upgraded Consolidated-Tomoka Land from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Thursday, November 2nd.
Several hedge funds have recently modified their holdings of CTO. Wells Fargo & Company MN lifted its stake in shares of Consolidated-Tomoka Land by 4.5% in the 4th quarter. Wells Fargo & Company MN now owns 59,251 shares of the financial services provider’s stock valued at $3,762,000 after purchasing an additional 2,552 shares during the period. PenderFund Capital Management Ltd. purchased a new position in shares of Consolidated-Tomoka Land in the 4th quarter valued at approximately $104,000. Mraz Amerine & Associates Inc. lifted its stake in shares of Consolidated-Tomoka Land by 25.6% in the 4th quarter. Mraz Amerine & Associates Inc. now owns 43,420 shares of the financial services provider’s stock valued at $2,247,000 after purchasing an additional 8,845 shares during the period. Boston Partners purchased a new position in shares of Consolidated-Tomoka Land in the 4th quarter valued at approximately $1,112,000. Finally, Bessemer Group Inc. purchased a new position in shares of Consolidated-Tomoka Land in the 4th quarter valued at approximately $330,000.
In other news, CEO John P. Albright sold 1,453 shares of Consolidated-Tomoka Land stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $62.87, for a total value of $91,350.11. The sale was disclosed in a document filed with the SEC, which is available through this link.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Saturday, February 10th will be given a $0.06 dividend. This is a positive change from Consolidated-Tomoka Land’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Thursday, February 8th. Consolidated-Tomoka Land’s dividend payout ratio (DPR) is currently 4.99%.
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About Consolidated-Tomoka Land
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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