Consolidated-Tomoka Land (CTO) Coverage Initiated at B. Riley

B. Riley assumed coverage on shares of Consolidated-Tomoka Land (NYSEAMERICAN:CTO) in a research report released on Monday morning. The brokerage issued a buy rating and a $82.00 price objective on the financial services provider’s stock.

Separately, Zacks Investment Research lowered Consolidated-Tomoka Land from a buy rating to a hold rating in a report on Thursday, January 11th.

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) opened at $66.00 on Monday. The firm has a market capitalization of $380.16, a PE ratio of 19.08 and a beta of 1.06. Consolidated-Tomoka Land has a 1-year low of $49.73 and a 1-year high of $67.58.

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Saturday, February 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.36%. This is a positive change from Consolidated-Tomoka Land’s previous quarterly dividend of $0.05. The ex-dividend date was Thursday, February 8th. Consolidated-Tomoka Land’s dividend payout ratio (DPR) is 6.90%.

In related news, CEO John P. Albright sold 1,453 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was 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 SEC, which can be accessed through the SEC website.

Institutional investors have recently bought and sold shares of the stock. Boston Partners acquired a new stake in Consolidated-Tomoka Land during the fourth quarter worth about $1,112,000. Brown Advisory Inc. grew its holdings in Consolidated-Tomoka Land by 254.7% during the fourth quarter. Brown Advisory Inc. now owns 15,285 shares of the financial services provider’s stock worth $970,000 after acquiring an additional 10,976 shares during the period. Bessemer Group Inc. acquired a new stake in Consolidated-Tomoka Land during the fourth quarter worth about $330,000. Martingale Asset Management L P purchased a new position in Consolidated-Tomoka Land during the fourth quarter worth approximately $845,000. Finally, Mraz Amerine & Associates Inc. boosted its position in Consolidated-Tomoka Land by 25.6% during the fourth quarter. Mraz Amerine & Associates Inc. now owns 43,420 shares of the financial services provider’s stock worth $2,247,000 after purchasing an additional 8,845 shares in the last quarter.

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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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