Consolidated-Tomoka Land Co. (NYSE:CTO) Posts Earnings Results, Misses Estimates By $0.04 EPS

Consolidated-Tomoka Land Co. (NYSE:CTO) posted its quarterly earnings data on Wednesday, October 18th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.04), Bloomberg Earnings reports. The business had revenue of $12.38 million during the quarter, compared to analyst estimates of $15.03 million. Consolidated-Tomoka Land had a return on equity of 9.30% and a net margin of 16.11%.

Shares of Consolidated-Tomoka Land (CTO) opened at 58.53 on Friday. The company has a 50-day moving average price of $58.09 and a 200-day moving average price of $55.74. The company has a market cap of $329.41 million and a P/E ratio of 11.10. Consolidated-Tomoka Land has a 12-month low of $48.65 and a 12-month high of $61.70.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, November 10th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.34%.

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In related news, CFO Mark E. Patten bought 1,462 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were purchased at an average cost of $53.83 per share, with a total value of $78,699.46. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Several equities analysts have recently issued reports on CTO shares. FBR & Co reaffirmed a “buy” rating on shares of Consolidated-Tomoka Land in a research note on Thursday, October 19th. Zacks Investment Research downgraded Consolidated-Tomoka Land from a “strong-buy” rating to a “hold” rating in a report on Monday, July 24th.

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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