Consolidated-Tomoka Land Co. (NYSEAMERICAN:CTO) – Equities researchers at B. Riley increased their Q1 2018 EPS estimates for Consolidated-Tomoka Land in a report issued on Thursday. B. Riley analyst D. Corak now forecasts that the financial services provider will earn $1.25 per share for the quarter, up from their prior estimate of $0.65. B. Riley has a “Buy” rating and a $82.00 price objective on the stock. B. Riley also issued estimates for Consolidated-Tomoka Land’s Q3 2018 earnings at $0.83 EPS, Q1 2019 earnings at $3.56 EPS, Q2 2019 earnings at $2.91 EPS and FY2019 earnings at $9.47 EPS.
Several other research firms have also weighed in on CTO. Zacks Investment Research lowered shares of Consolidated-Tomoka Land from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. FBR & Co set a $80.00 price objective on shares of Consolidated-Tomoka Land and gave the company a “buy” rating in a research report on Tuesday, October 31st.
A number of hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its stake in Consolidated-Tomoka Land by 396.3% during the fourth quarter. Acadian Asset Management LLC now owns 1,628 shares of the financial services provider’s stock valued at $104,000 after buying an additional 1,300 shares in the last quarter. BlackRock Inc. lifted its stake in Consolidated-Tomoka Land by 0.4% during the fourth quarter. BlackRock Inc. now owns 328,743 shares of the financial services provider’s stock valued at $20,875,000 after buying an additional 1,375 shares in the last quarter. PenderFund Capital Management Ltd. purchased a new stake in Consolidated-Tomoka Land during the fourth quarter valued at about $104,000. Wells Fargo & Company MN lifted its stake in Consolidated-Tomoka Land by 4.5% during the fourth quarter. Wells Fargo & Company MN now owns 59,251 shares of the financial services provider’s stock valued at $3,762,000 after buying an additional 2,552 shares in the last quarter. Finally, Bessemer Group Inc. purchased a new stake in Consolidated-Tomoka Land during the fourth quarter valued at about $330,000.
In other news, CEO John P. Albright sold 1,453 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $62.87, for a total transaction of $91,350.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
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 dividend of $0.06 per share. This is a positive change from Consolidated-Tomoka Land’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.24 annualized dividend and a dividend yield of 0.37%. Consolidated-Tomoka Land’s dividend payout ratio (DPR) is 2.67%.
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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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