Consolidated-Tomoka Land (CTO) Updates FY 2018 Earnings Guidance

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) updated its FY 2018 earnings guidance on Wednesday. The company provided earnings per share guidance of $7.25-8.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $8.24.

Separately, Zacks Investment Research lowered Consolidated-Tomoka Land from a strong-buy rating to a hold rating in a research report on Friday, September 7th.

NYSEAMERICAN CTO opened at $61.15 on Friday. Consolidated-Tomoka Land has a 12 month low of $55.65 and a 12 month high of $67.97.

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last released its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. Consolidated-Tomoka Land had a return on equity of 4.97% and a net margin of 12.17%. The firm had revenue of $18.43 million for the quarter, compared to analyst estimates of $18.36 million.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 9th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Thursday, November 8th. This is a positive change from Consolidated-Tomoka Land’s previous quarterly dividend of $0.07.

In other Consolidated-Tomoka Land news, VP Steven Robert Greathouse sold 2,800 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $64.25, for a total value of $179,900.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 3,106 shares of company stock worth $199,768 in the last quarter.

A hedge fund recently raised its stake in Consolidated-Tomoka Land stock. Bank of New York Mellon Corp lifted its holdings in shares of Consolidated-Tomoka Land Co. (NYSEAMERICAN:CTO) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,373 shares of the financial services provider’s stock after purchasing an additional 1,052 shares during the period. Bank of New York Mellon Corp owned 0.42% of Consolidated-Tomoka Land worth $1,439,000 at the end of the most recent reporting period.

Consolidated-Tomoka Land Company Profile

Consolidated-Tomoka Land Co, together with its subsidiaries, operates as a diversified real estate operating company in the United States. The company operates through four segments: Income Properties, Commercial Loan Investments, Real Estate Operations, and Golf Operations. It owns and manages commercial real estate properties.

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Earnings History and Estimates for Consolidated-Tomoka Land (NYSEAMERICAN:CTO)

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