Consolidated-Tomoka Land Co. (NYSEAMERICAN:CTO) announced a dividend on Thursday, July 18th, Fidelity reports. Shareholders of record on Monday, August 12th will be paid a dividend of 0.11 per share by the financial services provider on Friday, August 30th. The ex-dividend date is Friday, August 9th.
Consolidated-Tomoka Land has raised its dividend by an average of 50.0% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Consolidated-Tomoka Land has a dividend payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings.
Shares of CTO stock opened at $60.88 on Wednesday. Consolidated-Tomoka Land has a 1 year low of $49.23 and a 1 year high of $65.94.
Several equities research analysts have issued reports on CTO shares. Zacks Investment Research upgraded shares of Consolidated-Tomoka Land from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Monday, July 22nd. B. Riley set a $82.00 price target on shares of Consolidated-Tomoka Land and gave the company a “buy” rating in a research note on Monday, July 15th.
In other news, CFO Mark E. Patten sold 5,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $59.92, for a total transaction of $299,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Casey R. Wold acquired 500 shares of the stock in a transaction dated Thursday, May 9th. The shares were purchased at an average price of $59.12 per share, for a total transaction of $29,560.00. Following the completion of the purchase, the director now directly owns 2,764 shares in the company, valued at $163,407.68. The disclosure for this purchase can be found here.
Consolidated-Tomoka Land Company Profile
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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