Insider Buying: Consolidated-Tomoka Land Co. (CTO) Director Purchases 500 Shares of Stock

Consolidated-Tomoka Land Co. (NYSEAMERICAN:CTO) Director George R. Brokaw acquired 500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was purchased at an average price of $59.10 per share, with a total value of $29,550.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of CTO stock traded down $0.68 during trading hours on Friday, reaching $60.08. The stock had a trading volume of 400 shares, compared to its average volume of 20,485. Consolidated-Tomoka Land Co. has a 12 month low of $49.23 and a 12 month high of $67.01.

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.01). The firm had revenue of $14.26 million for the quarter, compared to the consensus estimate of $11.87 million.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Friday, May 10th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.40 annualized dividend and a yield of 0.67%.

Separately, Zacks Investment Research upgraded shares of Consolidated-Tomoka Land from a “strong sell” rating to a “hold” rating and set a $64.00 price objective for the company in a research report on Wednesday, April 10th.

A number of institutional investors have recently made changes to their positions in CTO. Vanguard Group Inc lifted its position in Consolidated-Tomoka Land by 29.7% during the third quarter. Vanguard Group Inc now owns 298,290 shares of the financial services provider’s stock valued at $18,577,000 after purchasing an additional 68,239 shares during the last quarter. Vanguard Group Inc. lifted its position in Consolidated-Tomoka Land by 29.7% during the third quarter. Vanguard Group Inc. now owns 298,290 shares of the financial services provider’s stock valued at $18,577,000 after purchasing an additional 68,239 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Consolidated-Tomoka Land by 5.9% during the third quarter. Dimensional Fund Advisors LP now owns 268,293 shares of the financial services provider’s stock valued at $16,709,000 after purchasing an additional 14,995 shares during the last quarter. Argent Capital Management LLC raised its stake in shares of Consolidated-Tomoka Land by 68.9% during the first quarter. Argent Capital Management LLC now owns 31,872 shares of the financial services provider’s stock worth $1,882,000 after acquiring an additional 13,007 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Consolidated-Tomoka Land by 691.5% during the first quarter. Marshall Wace LLP now owns 11,144 shares of the financial services provider’s stock worth $658,000 after acquiring an additional 9,736 shares in the last quarter.

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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.

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