Consolidated-Tomoka Land Co. (NYSEAMERICAN:CTO) – Investment analysts at B. Riley increased their FY2017 earnings estimates for shares of Consolidated-Tomoka Land in a note issued to investors on Tuesday, Zacks Investment Research reports. B. Riley analyst D. Corak now forecasts that the financial services provider will post earnings per share of $3.55 for the year, up from their previous estimate of $3.51. B. Riley currently has a “Buy” rating and a $82.00 target price on the stock. B. Riley also issued estimates for Consolidated-Tomoka Land’s Q4 2017 earnings at $0.47 EPS, Q1 2018 earnings at $0.65 EPS, Q3 2018 earnings at $1.54 EPS, FY2018 earnings at $8.51 EPS and FY2019 earnings at $5.30 EPS.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Consolidated-Tomoka Land from a “hold” rating to a “strong sell” rating in a research report on Monday. FBR & Co set a $80.00 price target on shares of Consolidated-Tomoka Land and gave the stock a “buy” rating in a research report on Tuesday, October 31st.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its stake in Consolidated-Tomoka Land by 396.3% during the 4th quarter. Acadian Asset Management LLC now owns 1,628 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 1,300 shares in the last quarter. Bessemer Group Inc. purchased a new stake in shares of Consolidated-Tomoka Land in the 4th quarter valued at approximately $330,000. Finally, Boston Partners purchased a new stake in shares of Consolidated-Tomoka Land in the 4th quarter valued at approximately $1,112,000.
In related news, CEO John P. Albright sold 1,453 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Saturday, February 10th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Thursday, February 8th. This is an increase from Consolidated-Tomoka Land’s previous quarterly dividend of $0.05. Consolidated-Tomoka Land’s dividend payout ratio is 4.99%.
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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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