B. Riley set a $82.00 price objective on Consolidated-Tomoka Land (NYSEAMERICAN:CTO) in a research note published on Thursday, February 8th. The firm currently has a buy rating on the financial services provider’s stock. B. Riley also issued estimates for Consolidated-Tomoka Land’s Q2 2018 earnings at $1.26 EPS, 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.
A number of other analysts have also recently commented 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 objective for the company in a research report on Thursday, November 2nd.
Consolidated-Tomoka Land (CTO) traded down $0.38 during trading on Thursday, hitting $65.05. The stock had a trading volume of 17,497 shares, compared to its average volume of 22,111. The stock has a market capitalization of $360.98, a PE ratio of 8.68 and a beta of 1.03. Consolidated-Tomoka Land has a 1-year low of $49.73 and a 1-year high of $67.58.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Saturday, February 10th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, February 8th. 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%. Consolidated-Tomoka Land’s payout ratio is currently 3.20%.
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 can be accessed through this link.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PenderFund Capital Management Ltd. acquired a new position in Consolidated-Tomoka Land during the fourth quarter worth $104,000. Acadian Asset Management LLC boosted 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 worth $104,000 after buying an additional 1,300 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in Consolidated-Tomoka Land during the fourth quarter worth $156,000. AXA acquired a new position in Consolidated-Tomoka Land during the fourth quarter worth $203,000. Finally, Bessemer Group Inc. acquired a new position in Consolidated-Tomoka Land during the fourth quarter worth $330,000.
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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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