Consolidated-Tomoka Land Co. (NYSE:CTO) Announces Earnings Results

Consolidated-Tomoka Land Co. (NYSE:CTO) issued its earnings results on Wednesday, July 19th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.25 by $0.42, Bloomberg Earnings reports. The company had revenue of $22.84 million for the quarter, compared to analyst estimates of $13.23 million. Consolidated-Tomoka Land had a net margin of 16.11% and a return on equity of 9.30%.

Consolidated-Tomoka Land (NYSE CTO) opened at 54.62 on Tuesday. The firm has a 50-day moving average of $55.47 and a 200-day moving average of $54.44. Consolidated-Tomoka Land has a 12-month low of $48.50 and a 12-month high of $58.28. The stock has a market capitalization of $307.07 million and a price-to-earnings ratio of 10.33.

The company also recently announced a semiannual dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Thursday, August 10th will be issued a $0.05 dividend. This represents a yield of 0.18%. This is a positive change from Consolidated-Tomoka Land’s previous semiannual dividend of $0.04. The ex-dividend date of this dividend is Tuesday, August 8th.

Separately, Zacks Investment Research lowered shares of Consolidated-Tomoka Land from a “buy” rating to a “hold” rating in a research report on Monday, April 17th.

Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in Consolidated-Tomoka Land by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 207,369 shares of the company’s stock worth $11,810,000 after buying an additional 11,508 shares during the period. Vanguard Group Inc. raised its stake in shares of Consolidated-Tomoka Land by 0.9% in the second quarter. Vanguard Group Inc. now owns 198,135 shares of the company’s stock worth $11,284,000 after buying an additional 1,788 shares during the last quarter. State Street Corp raised its stake in shares of Consolidated-Tomoka Land by 7.6% in the second quarter. State Street Corp now owns 83,606 shares of the company’s stock worth $4,764,000 after buying an additional 5,901 shares during the last quarter. Northern Trust Corp raised its stake in shares of Consolidated-Tomoka Land by 3.7% in the second quarter. Northern Trust Corp now owns 68,781 shares of the company’s stock worth $3,917,000 after buying an additional 2,426 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Consolidated-Tomoka Land by 1.0% in the second quarter. Wells Fargo & Company MN now owns 54,265 shares of the company’s stock worth $3,090,000 after buying an additional 538 shares during the last quarter.

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.