Consolidated-Tomoka Land Co. (CTO) Given a $80.00 Price Target at B. Riley

B. Riley set a $80.00 target price on Consolidated-Tomoka Land Co. (NYSEMKT:CTO) in a research note released on Monday. The firm currently has a buy rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Consolidated-Tomoka Land from a hold rating to a buy rating in a research note on Wednesday, September 13th. Zacks Investment Research downgraded shares of Consolidated-Tomoka Land from a strong-buy rating to a hold rating in a research report on Monday, July 24th. Finally, FBR & Co set a $80.00 price objective on shares of Consolidated-Tomoka Land and gave the stock a buy rating in a research report on Tuesday, October 31st.

Shares of Consolidated-Tomoka Land (NYSEMKT CTO) traded up $0.34 during trading on Monday, reaching $57.89. 1,827 shares of the company’s stock traded hands, compared to its average volume of 10,786. Consolidated-Tomoka Land has a 12-month low of $49.73 and a 12-month high of $61.70.

Consolidated-Tomoka Land (NYSEMKT:CTO) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.04). The business had revenue of $12.38 million for the quarter, compared to analyst estimates of $15.03 million. Consolidated-Tomoka Land had a return on equity of 2.43% and a net margin of 7.81%.

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The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, November 10th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.35%.

In related news, CFO Mark E. Patten purchased 1,462 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was acquired at an average price of $53.83 per share, for a total transaction of $78,699.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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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