Consolidated-Tomoka Land Co. (CTO) Stake Decreased by Mraz Amerine & Associates Inc.
Mraz Amerine & Associates Inc. decreased its holdings in Consolidated-Tomoka Land Co. (NYSE:CTO) by 3.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,575 shares of the company’s stock after selling 1,300 shares during the quarter. Consolidated-Tomoka Land comprises about 0.7% of Mraz Amerine & Associates Inc.’s portfolio, making the stock its 25th biggest position. Mraz Amerine & Associates Inc. owned approximately 0.62% of Consolidated-Tomoka Land worth $2,077,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of Consolidated-Tomoka Land by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 207,369 shares of the company’s stock worth $11,810,000 after purchasing an additional 11,508 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Consolidated-Tomoka Land by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 198,135 shares of the company’s stock worth $11,284,000 after purchasing an additional 1,788 shares in the last quarter. State Street Corp boosted its position in shares of Consolidated-Tomoka Land by 7.6% in the 2nd quarter. State Street Corp now owns 83,606 shares of the company’s stock worth $4,764,000 after purchasing an additional 5,901 shares in the last quarter. Northern Trust Corp raised its stake in Consolidated-Tomoka Land by 3.7% in the 2nd quarter. Northern Trust Corp now owns 68,781 shares of the company’s stock worth $3,917,000 after acquiring an additional 2,426 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Consolidated-Tomoka Land by 1.0% in the 2nd quarter. Wells Fargo & Company MN now owns 54,265 shares of the company’s stock worth $3,090,000 after acquiring an additional 538 shares during the last quarter.
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In other news, CFO Mark E. Patten bought 1,462 shares of Consolidated-Tomoka Land stock in a transaction that occurred on Thursday, August 24th. The stock was bought 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 is available through this hyperlink.
Shares of Consolidated-Tomoka Land Co. (CTO) traded down $0.22 during mid-day trading on Friday, reaching $57.27. The company had a trading volume of 7,550 shares, compared to its average volume of 11,196. Consolidated-Tomoka Land Co. has a one year low of $49.73 and a one year high of $61.70.
Consolidated-Tomoka Land (NYSE:CTO) last issued its earnings results on Wednesday, October 18th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.04). The firm had revenue of $12.38 million during the quarter, compared to analysts’ expectations of $15.03 million. Consolidated-Tomoka Land had a return on equity of 2.43% and a net margin of 7.81%.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, November 10th will be paid 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 yield of 0.35%.
A number of brokerages recently issued reports on CTO. Zacks Investment Research upgraded Consolidated-Tomoka Land from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Thursday, November 2nd. FBR & Co set a $80.00 target price on Consolidated-Tomoka Land and gave the stock a “buy” rating in a research note on Tuesday, October 31st.
Consolidated-Tomoka Land 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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