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Last $55.84 USD
Change Today +0.13 / 0.23%
Volume 423.0
As of 10:08 AM 05/29/15 All times are local (Market data is delayed by at least 15 minutes).

cons tomoka land co-florida (CTO) Snapshot

Open
$55.42
Previous Close
$55.71
Day High
$55.84
Day Low
$54.86
52 Week High
02/11/15 - $64.37
52 Week Low
05/29/14 - $36.92
Market Cap
324.0M
Average Volume 10 Days
11.4K
EPS TTM
$1.07
Shares Outstanding
5.9M
EX-Date
05/6/15
P/E TM
51.3x
Dividend
$0.08
Dividend Yield
0.15%
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 Announces Acquisition of The Container Store in Glendale, AZ

Consolidated-Tomoka Land Co. announced the acquisition of a 23,329 square-foot property situated on 2.46 acres in Glendale, Arizona for approximately $8.6 million. The Property is leased to The Container Store with a term of approximately 15 years having commenced in February 2015, with rent increases every 5 years. The acquisition transaction is expected to be part of a 1031 like-kind exchange. The Property, formerly a vacated Disney retail location, is an outparcel to the 1.2 million square foot Arrowhead Towne Center, which is owned and managed by Macerich.

Consolidated Tomoka Land Co. Declares Semi-Annual Dividend, Payable on May 27, 2015

Consolidated Tomoka Land Co. declared semi-annual dividend of $0.04 per share payable on May 27, 2015 to shareholders of record on May 8, 2015.

Consolidated-Tomoka Land Co. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Impairment Charges for the First Quarter Ended March 31, 2015

Consolidated-Tomoka Land Co. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $7,308,325 against $7,172,719 a year ago. This increase was primarily the result of an increase of approximately $856,000, or 25%, in revenue from income property operations reflecting acquisitions in 2014, and approximately $120,000, or 8%, in revenue generated by golf operations, offset by decreased revenues of approximately $312,000 from commercial loan investments and approximately $489,000 from real estate operations. Operating income was $1,493,887 against $2,903,869 a year ago. Income from continuing operations before income tax expense was $577,844 against $2,450,165 a year ago. Net income was $353,356 against $1,500,407 a year ago. Net income in the first quarter of 2015 was impacted by the decreases in revenues in commercial loan investments and real estate operations and an increase in direct cost of revenues of approximately $698,000, or 35% which reflected an increase of approximately $301,000 in operating expenses primarily related to Whole Foods and The Grove at Winter Park investments. In addition, net income for the quarter ended March 31, 2015 was impacted by increased depreciation and amortization of approximately $384,000, or 50%, reflecting acquisitions in 2014, increased interest expense of approximately $599,000, or 128%, reflecting $30.0 million fixed rate borrowing which closed in September 2014 and $75.0 million convertible debt issuance which closed in early March 2015, offset by a decrease in stock compensation expenses of approximately $216,000 due to forfeitures of stock awards and investment income which increased approximately $137,000 resulting from the favorable disposition of investment in preferred securities of a publicly-traded real estate company. In addition, during the first quarter of 2015, the company recognized an impairment charge of approximately $510,000, an impact of approximately $0.05 per share after tax, from the sale of two non-core income properties on April 17, 2015. Basic and diluted net income per share was $0.06 against $0.26 a year ago. Book value per outstanding share increased from $21.83 as of December 31, 2014 to $23.83 as of March 31, 2015. For the quarter ended March 31, 2015, the company reported impairment charges of $510,041.

 

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Industry Analysis

CTO

Industry Average

Valuation CTO Industry Range
Price/Earnings 61.1x
Price/Sales 9.0x
Price/Book 2.5x
Price/Cash Flow 35.6x
TEV/Sales 4.8x
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