Consolidated-Tomoka Land Co. (CTO) Stock Rating Reaffirmed by FBR & Co

FBR & Co restated their buy rating on shares of Consolidated-Tomoka Land Co. (NYSE:CTO) in a report issued on Thursday, October 19th.

Separately, Zacks Investment Research upgraded Consolidated-Tomoka Land from a hold rating to a strong-buy rating and set a $66.00 target price for the company in a research note on Friday, July 21st.

Shares of Consolidated-Tomoka Land (NYSE CTO) traded up 0.60% during trading on Thursday, hitting $58.53. 4,972 shares of the stock were exchanged. The stock has a market cap of $329.41 million and a PE ratio of 11.10. 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 of $58.09 and a 200-day moving average of $55.74.

Consolidated-Tomoka Land (NYSE:CTO) last posted its earnings results on Wednesday, October 18th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.04). The business had revenue of $12.38 million for the quarter, compared to analysts’ expectations of $15.03 million. Consolidated-Tomoka Land had a return on equity of 9.30% and a net margin of 16.11%.

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The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Friday, November 10th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Thursday, November 9th.

In other Consolidated-Tomoka Land news, CFO Mark E. Patten sold 2,640 shares of Consolidated-Tomoka Land stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $54.88, for a total transaction of $144,883.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

A number of hedge funds have recently made changes to their positions in CTO. PNC Financial Services Group Inc. acquired a new position in Consolidated-Tomoka Land during the second quarter worth $136,000. Voya Investment Management LLC acquired a new position in Consolidated-Tomoka Land during the second quarter worth $201,000. Alliancebernstein L.P. acquired a new position in Consolidated-Tomoka Land during the second quarter worth $214,000. The Manufacturers Life Insurance Company grew its holdings in Consolidated-Tomoka Land by 11.7% during the second quarter. The Manufacturers Life Insurance Company now owns 3,995 shares of the company’s stock worth $228,000 after acquiring an additional 418 shares during the period. Finally, Parametric Portfolio Associates LLC grew its holdings in Consolidated-Tomoka Land by 5.6% during the second quarter. Parametric Portfolio Associates LLC now owns 4,675 shares of the company’s stock worth $266,000 after acquiring an additional 247 shares during the period.

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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