AMEX:CTO

Stock Analysis Report

Consolidated-Tomoka Land

Executive Summary

Consolidated-Tomoka Land Co., together with its subsidiaries, operates as a diversified real estate operating company in the United States.


Snowflake Analysis

Good value average dividend payer.


Similar Companies

Share Price & News

How has Consolidated-Tomoka Land's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CTO has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.9%

CTO

-1.6%

US Real Estate

-1.1%

US Market


1 Year Return

5.8%

CTO

7.6%

US Real Estate

17.8%

US Market

Return vs Industry: CTO underperformed the US Real Estate industry which returned 7.6% over the past year.

Return vs Market: CTO underperformed the US Market which returned 17.8% over the past year.


Shareholder returns

CTOIndustryMarket
7 Day1.9%-1.6%-1.1%
30 Day-1.6%1.5%1.5%
90 Day0.7%6.0%6.6%
1 Year6.8%5.8%8.5%7.6%20.2%17.8%
3 Year16.7%14.6%26.4%23.3%47.5%38.1%
5 Year10.5%8.0%13.8%10.1%71.2%52.4%

Price Volatility Vs. Market

How volatile is Consolidated-Tomoka Land's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Consolidated-Tomoka Land undervalued compared to its fair value and its price relative to the market?

46.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CTO ($63.54) is trading below our estimate of fair value ($119.18)

Significantly Below Fair Value: CTO is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CTO is good value based on its PE Ratio (19.1x) compared to the Real Estate industry average (22.8x).

PE vs Market: CTO is poor value based on its PE Ratio (19.1x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

PEG Ratio: CTO's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: CTO is good value based on its PB Ratio (1.1x) compared to the US Real Estate industry average (1.4x).


Next Steps

Future Growth

How is Consolidated-Tomoka Land forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-46.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CTO's earnings are forecast to decline over the next 3 years (-46.7% per year).

Earnings vs Market: CTO's earnings are forecast to decline over the next 3 years (-46.7% per year).

High Growth Earnings: CTO's earnings are forecast to decline over the next 3 years.

Revenue vs Market: CTO's revenue (13.3% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: CTO's revenue (13.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CTO's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Consolidated-Tomoka Land performed over the past 5 years?

31.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CTO has a large one-off gain of $22.0M impacting its December 31 2019 financial results.

Growing Profit Margin: CTO's current net profit margins (36.9%) are lower than last year (44.9%).


Past Earnings Growth Analysis

Earnings Trend: CTO's earnings have grown significantly by 31.4% per year over the past 5 years.

Accelerating Growth: CTO's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CTO had negative earnings growth (-57.4%) over the past year, making it difficult to compare to the Real Estate industry average (-31.1%).


Return on Equity

High ROE: CTO's Return on Equity (5.8%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Consolidated-Tomoka Land's financial position?


Financial Position Analysis

Short Term Liabilities: CTO's short term assets ($144.8M) exceed its short term liabilities ($7.5M).

Long Term Liabilities: CTO's short term assets ($144.8M) do not cover its long term liabilities ($410.4M).


Debt to Equity History and Analysis

Debt Level: CTO's debt to equity ratio (100.5%) is considered high.

Reducing Debt: CTO's debt to equity ratio has increased from 81.1% to 100.5% over the past 5 years.

Debt Coverage: CTO's debt is not well covered by operating cash flow (14.9%).

Interest Coverage: CTO's interest payments on its debt are not well covered by EBIT (1x coverage).


Balance Sheet

Inventory Level: CTO has a high level of physical assets or inventory.

Debt Coverage by Assets: CTO's debt is not covered by short term assets (assets are 0.5x debt).


Next Steps

Dividend

What is Consolidated-Tomoka Land's current dividend yield, its reliability and sustainability?

1.57%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CTO's dividend (1.57%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: CTO's dividend (1.57%) is low compared to the top 25% of dividend payers in the US market (3.73%).


Stability and Growth of Payments

Stable Dividend: CTO's dividend payments have been volatile in the past 10 years.

Growing Dividend: CTO's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (13.2%), CTO's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CTO's dividends in 3 years are forecast to be covered by earnings (61.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.6yrs

Average management tenure


CEO

John Albright (53yo)

8.5yrs

Tenure

US$2,031,912

Compensation

Mr. John P. Albright serves as President, Chief Executive Officer and Director at Alpine Income Property Trust, Inc. since its formation in August 2019. Mr. Albright has been the Chief Executive Officer an ...


CEO Compensation Analysis

Compensation vs Market: John's total compensation ($USD2.03M) is about average for companies of similar size in the US market ($USD1.67M).

Compensation vs Earnings: John's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
John Albright
President8.5yrsUS$2.03m2.54% $7.7m
Mark Patten
Senior VP & CFO7.8yrsUS$671.04k0.67% $2.0m
Steven Greathouse
Senior Vice President of Investments8.1yrsUS$643.40k0.23% $696.4k
Daniel Smith
Senior VP5.3yrsUS$608.10k0.30% $908.0k
Lisa Vorakoun
VP & Controller2.6yrsno datano data
E. Bullock
Vice President of Real Estate4.6yrsno datano data
Teresa Thornton-Hill
VP, Corporate Counsel & Assistant Corporate Secretary0yrsno datano data

6.6yrs

Average Tenure

53yo

Average Age

Experienced Management: CTO's management team is seasoned and experienced (6.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
John Albright
President8.5yrsUS$2.03m2.54% $7.7m
Casey Wold
Independent Director2.9yrsUS$64.90k0.073% $220.1k
Laura Franklin
Chairman of the Board2.8yrsUS$131.89k0.077% $232.6k
Howard Serkin
Vice Chairman of the Board2.8yrsUS$82.38k0.15% $460.4k
George Brokaw
Independent Director1.3yrsUS$18.17k0.11% $324.9k
Christopher Haga
Independent Director2.3yrsUS$72.34k0.057% $172.5k
R. Gable
Independent Director1.3yrsUS$10.71k0.051% $153.1k

2.8yrs

Average Tenure

53yo

Average Age

Experienced Board: CTO's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: CTO insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Consolidated-Tomoka Land Co.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Consolidated-Tomoka Land Co.
  • Ticker: CTO
  • Exchange: AMEX
  • Founded: 1902
  • Industry: Diversified Real Estate Activities
  • Sector: Real Estate
  • Market Cap: US$303.115m
  • Shares outstanding: 4.77m
  • Website: https://www.ctlc.com

Number of Employees


Location

  • Consolidated-Tomoka Land Co.
  • 1140 North Williamson Boulevard
  • Suite 140
  • Daytona Beach
  • Florida
  • 32114
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CTOAMEX (NYSE MKT LLC)YesCommon StockUSUSDDec 1972

Biography

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. As of December 31, 2018, the company owned land holdings of approximately 5,400 acres in Daytona Beach area of Volusia County; 40 single-tenant retail buildings located in Arizona, California, Florida, Georgia, Maryland, Massachusetts, Nevada, New Mexico, North Carolina, Oregon, Texas, Virginia, and Washington; 7 multi-tenant income-producing properties located in California, Florida, and Texas; and full or fractional subsurface oil, gas, and mineral interests of approximately 455,000 surface acres in 20 counties in Florida. It also operates a semi-private golf club with two 18-hole championship golf courses, a three-hole practice facility of golf, a clubhouse facility, and a fitness facility. In addition, the company leases land for 18 billboards; and hay production and timber harvesting, as well as owns and manages subsurface interests. Consolidated-Tomoka Land Co. was founded in 1902 and is headquartered in Daytona Beach, Florida. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/24 01:31
End of Day Share Price2020/02/21 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.