Flashy Stocks: Consolidated-Tomoka Land Co. (NYSE: CTO)

On Wednesday, Consolidated-Tomoka Land Co. (NYSE: CTO) stayed amongst the day gainers and traded with change of 0.44% on volume of 12,395 shares in the last session as compared to typical volume of 17873 shares. As reported previously just recently, the Company closed on the sale of a managing interest in a wholly-owned entity that holds the Companys remaining land portfolio of about 5,300 acres (the “Land Venture”), including the land parcels the Company presently has under agreement, to certain funds handled by Magnetar Capital (” Magnetar”) for overall earnings to the Company of about $97.0 M (the “Land Transaction”). The Company may, in the future, get additional profits from the Land Venture in the form of circulations under particular scenarios, based upon the timing and amount understood when the land is eventually offered by the Land Venture.

QUARTER HIGHLIGHTS
Land Holdings
As reported earlier just recently, the Company closed on the sale of a managing interest in a wholly-owned entity that holds the Companys remaining land portfolio of about 5,300 acres (the “Land Venture”), including the land parcels the Company currently has under contract, to certain funds managed by Magnetar Capital (” Magnetar”) for overall profits to the Company of about $97.0 M (the “Land Transaction”). The Company may, in the future, receive additional earnings from the Land Venture in the kind of distributions under specific scenarios, based upon the timing and amount recognized when the land is eventually sold by the Land Venture. There can be no guarantee as to the possibility or receiving such circulations, or the quantity or timing thereof.
As an outcome of the Land Venture the Company has not offered an upgrade of the land deal pipeline in this earnings release.
Income Property Portfolio
In 4 different deals, acquired 4 single-tenant net lease retail residential or commercial properties for a total financial investment of about $49.5 M, showing a weighted average investment cap rate of about 6.32%. The 4 properties had a weighted average lease term of about 36.7 years.
Sold a 1.56-acre outparcel topic to a ground lease with Wawa, located in Winter Park, Florida, for a list prices of about $2.8 M for a gain of about $2.1 M, or $0.33 per share, after tax.
Commercial Loan Investment Portfolio
Stemmed a leasehold mortgage on the Carpenter Hotel amounting to about $8.25 M with an interest rate of about 11.5%.
The volatility in the previous week has actually experienced by 2.11% and observed of 2.21% in the previous month.74.50% ownership is held by institutional investors while insiders hold ownership of 3.50%. The P/E ratio was recorded at 10.91.

Consolidated-Tomoka Land Co. (American: CTO) recently reported its operating results and earnings for the quarter and nine months ended September 30, 2019.

On Wednesday, Consolidated-Tomoka Land Co. (NYSE: CTO) remained amongst the day gainers and traded with change of 0.44% on volume of 12,395 shares in the last session as compared to typical volume of 17873 shares. During last trade its minimum cost was $63.4 and it acquired greatest price of $64.08. CTO has overall market capitalization of $315786249. Its closing value stands at $64.08.

Melanie Griffith

Melanie Griffith – Technology I am Melanie Griffith , I have done my bachelor’s in English literature, and further on I did my master’s in computer sciences. My most preferred genre of writing is technology sector. I have been writing from the past 6 years about articles, web content, and blogs. In my career and education, I like to play along with work. I have also been a teacher in the past for 2 years. I use to teach business and technical writing in a very famous university. However, most recently I am working as an instructor, designer, and training writer. I enjoy socializing a lot. I am a very big extrovert when it comes to my nature. A part of all this I enjoy exploring the world and traveling make me happy.

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