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Last $56.66 USD
Change Today -0.43 / -0.75%
Volume 16.9K
As of 8:04 PM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

cons tomoka land co-florida (CTO) Snapshot

Open
$56.64
Previous Close
$57.09
Day High
$58.20
Day Low
$56.64
52 Week High
02/11/15 - $64.37
52 Week Low
05/29/14 - $36.92
Market Cap
334.6M
Average Volume 10 Days
10.5K
EPS TTM
$1.18
Shares Outstanding
5.9M
EX-Date
11/5/14
P/E TM
47.9x
Dividend
$0.08
Dividend Yield
0.12%
Current Stock Chart for CONS TOMOKA LAND CO-FLORIDA (CTO)

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cons tomoka land co-florida (CTO) Details

Consolidated-Tomoka Land Co., through its subsidiaries, operates as a diversified real estate operating company in the United States. It owns and manages commercial real estate properties and self-developed properties. As of December 31, 2014, the company's land holdings included approximately 10,500 acres in Daytona Beach area of Volusia County, Florida; 36 single-tenant retail buildings located in Arizona, California, Colorado, Florida, Georgia, Illinois, Maryland, North Carolina, Texas, and Washington; 7 multi-tenant properties located in Florida, including 5 self-developed properties located in Daytona Beach, Florida; and full or fractional subsurface oil, gas, and mineral interests of approximately 490,000 surface acres in 20 counties in Florida. It also operates two 18-hole championship golf courses with a three-hole practice facility, a clubhouse facility, and food and beverage operations In addition, the company leases property for 21 billboards; and leases approximately 9,700 acres of land for hay and sod production, timber harvesting, and hunting leases, as well as owns and manages subsurface interests. Consolidated-Tomoka Land Co. was founded in 1902 and is based in Daytona Beach, Florida.

14 Employees
Last Reported Date: 02/27/15
Founded in 1902

cons tomoka land co-florida (CTO) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $756.0K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $325.5K
Senior Vice President, General Counsel and Co...
Total Annual Compensation: $102.6K
Compensation as of Fiscal Year 2014.

cons tomoka land co-florida (CTO) Key Developments

Consolidated Tomoka Land Co. Announces Lease for 50% of Williamson Business Park & Expansion and Renewal of Tenant At Mason Commerce Center

Consolidated-Tomoka Land Co. announced that the company has entered into a 10-year lease with Teledyne ODI (Teledyne) for 15,360 square feet at Williamson Business Park. The company completed the development of Williamson Business Park, a two-building 30,720 square foot flex office property, in June 2014. Teledyne will occupy one of the buildings in its entirety. Upon commencement of the Teledyne lease, Williamson Business Park will be 75% occupied with approximately 7,660 square feet available for lease. Dick McNerney of Adams, Cameron & Co. represented the company as the leasing agent for the lease. Lamar Advertising Co. leases the other 7,700 square feet under a long-term lease.

Consolidated Tomoka Seeks Acquisitions

Consolidated Tomoka Land Co. (AMEX:CTO) is seeking acquisitions. Consolidated Tomoka announced that it intends to offer $75 million aggregate principal amount of Convertible Senior Notes due 2020 through a private placement. Consolidated Tomoka expects to use the net proceeds from the sale of the notes to repay borrowings under its credit facility, to fund future investments in income-producing assets and for general corporate purposes, which may include the repurchase of Company common stock under the Company's share repurchase program.

Consolidated Tomoka Land Co. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Full Year Ending December 31, 2015

Consolidated Tomoka Land Co. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company’s Total revenues for the quarter-ended December 31, 2014 decreased 17.7% to approximately $8.1 million compared to approximately $9.8 million during the same period in 2013. The lower total revenues of approximately $1.7 million during the fourth quarter of 2014, compared to the same period in 2013, reflects a decrease of 48.4% in revenue from real estate operations, primarily resulting from fewer land transactions in the fourth quarter of 2014 than were closed in the same period in 2013. Net income for the quarter-ended December 31, 2014, was approximately $0.7 million or $0.12 per share, compared to net income of approximately $1.9 million, or $0.32 per share, during the same period in 2013 due to the previously noted impact of the timing of land sales year-over-year and the termination of the pension plan, which was completed in November 2014. Operating income was $1,989,998 compared to $3,031,104 a year ago. Income from continuing operations before income tax was $1,124,192 compared to $2,520,580 a year ago. Income from continuing operations was $681,812 or $0.12 per basic and diluted share, compared to $1,365,021 or $0.24 per basic and diluted share, a year ago. For the full year, the company’s total revenue increased 37.5% to approximately $35.5 million, compared to approximately $25.8 million during the same period in 2013. This $9.7 million increase was primarily from an increase of approximately $2.1 million, or 16.7%, in revenue generated by income properties, an increase of approximately $7.0 million, or 117.9%, in revenue from real estate operations, approximately $0.5 million in income from commercial loan investments, and a slight increase in revenue from golf operations. Net income for the year ended December 31, 2014 was approximately $6.4 million, an improvement of 73.3% compared to net income of approximately $3.7 million for the same period in 2013. Operating income was $12,592,506 compared to $6,279,377 a year ago. Income from continuing operations before income tax was $10,214,681 compared to $4,453,218 a year ago. Income from continuing operations was $6,383,818 or $1.11 per basic and diluted share, compared $2,561,538 or $0.44 per basic and diluted share, a year ago. Book value increased by approximately $8.2 million or $1.30 per share, to $128.4 million or $21.83 per share; The company provided earnings guidance for the full year ending December 31, 2015. For the period, the company is expecting its earnings per share (on a fully diluted basis) in the range of $2.80 per share to $3.10 per share; and acquisition of income producing assets in the range of $70 million to $90 million.

 

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Industry Analysis

CTO

Industry Average

Valuation CTO Industry Range
Price/Earnings 51.4x
Price/Sales 9.1x
Price/Book 2.6x
Price/Cash Flow 33.9x
TEV/Sales 6.4x
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