Consolidated-Tomoka Land (NYSEAMERICAN:CTO) Earns “Buy” Rating from B. Riley

B. Riley reaffirmed their buy rating on shares of Consolidated-Tomoka Land (NYSEAMERICAN:CTO) in a research note issued to investors on Tuesday morning, TipRanks reports. B. Riley currently has a $82.00 target price on the financial services provider’s stock. B. Riley also issued estimates for Consolidated-Tomoka Land’s Q4 2019 earnings at $18.75 EPS, FY2019 earnings at $21.89 EPS, Q1 2020 earnings at ($0.06) EPS, Q2 2020 earnings at $0.20 EPS, Q3 2020 earnings at $0.19 EPS, Q4 2020 earnings at $0.22 EPS and FY2020 earnings at $0.55 EPS.

Separately, Zacks Investment Research lowered shares of Consolidated-Tomoka Land from a buy rating to a hold rating in a research note on Thursday, October 17th.

Shares of Consolidated-Tomoka Land stock opened at $62.43 on Tuesday. Consolidated-Tomoka Land has a 1 year low of $49.23 and a 1 year high of $68.64.

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.22 by ($2.86). The company had revenue of $11.75 million for the quarter, compared to the consensus estimate of $40.82 million.

The firm also recently declared a dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 12th were paid a $0.13 dividend. This is a positive change from Consolidated-Tomoka Land’s previous dividend of $0.11. The ex-dividend date was Friday, November 8th.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Consolidated-Tomoka Land by 17.2% during the 2nd quarter. BlackRock Inc. now owns 390,153 shares of the financial services provider’s stock valued at $23,293,000 after purchasing an additional 57,369 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Consolidated-Tomoka Land by 22.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 319,966 shares of the financial services provider’s stock valued at $20,989,000 after acquiring an additional 58,656 shares during the last quarter. V3 Capital Management L.P. boosted its holdings in shares of Consolidated-Tomoka Land by 5.0% during the 3rd quarter. V3 Capital Management L.P. now owns 253,500 shares of the financial services provider’s stock valued at $16,630,000 after acquiring an additional 12,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Consolidated-Tomoka Land by 11.4% during the 2nd quarter. Vanguard Group Inc. now owns 253,045 shares of the financial services provider’s stock valued at $15,107,000 after acquiring an additional 25,839 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new stake in shares of Consolidated-Tomoka Land during the 2nd quarter valued at about $13,527,000.

About Consolidated-Tomoka Land

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.

Further Reading: When can a hold rating present a buying opportunity?

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