Zacks Investment Research upgraded shares of Consolidated-Tomoka Land (NYSEAMERICAN:CTO) from a sell rating to a hold rating in a report released on Friday.

According to Zacks, “Consolidated-Tomoka Land Co. is primarily engaged in the real estate industry through its wholly owned subsidiaries. Real estate operations include commercial real estate, real estate development, residential and golf operations, property leasing, leasing properties for oil and mineral exploration and the sale of forest products. “

Separately, B. Riley set a $82.00 price target on Consolidated-Tomoka Land and gave the stock a buy rating in a research note on Thursday, February 8th.

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) opened at $63.60 on Friday. Consolidated-Tomoka Land has a twelve month low of $49.73 and a twelve month high of $67.58. The company has a market capitalization of $353.57, a P/E ratio of 18.28 and a beta of 1.06.

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Saturday, February 10th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.38%. This is a boost from Consolidated-Tomoka Land’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Thursday, February 8th. Consolidated-Tomoka Land’s dividend payout ratio is 6.90%.

In other Consolidated-Tomoka Land news, CEO John P. Albright sold 1,453 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $62.87, for a total transaction of $91,350.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Hedge funds and other institutional investors have recently made changes to their positions in the company. PenderFund Capital Management Ltd. acquired a new stake in shares of Consolidated-Tomoka Land in the fourth quarter valued at $104,000. Acadian Asset Management LLC raised its stake in shares of Consolidated-Tomoka Land by 396.3% in the fourth quarter. Acadian Asset Management LLC now owns 1,628 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 1,300 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Consolidated-Tomoka Land in the fourth quarter valued at $156,000. AXA acquired a new stake in shares of Consolidated-Tomoka Land in the fourth quarter valued at $203,000. Finally, Bessemer Group Inc. acquired a new stake in shares of Consolidated-Tomoka Land in the fourth quarter valued at $330,000.

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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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