Consolidated Tomoka Completes Sale of Approximately 4 Acres for $935,000
CTO Realty Growth, Inc. (CTO)
NASDAQ:AMEX Investor Relations:
ir.ctlc.com
Company Research
Source: GlobeNewswire
DAYTONA BEACH, Fla., Dec. 28, 2018 (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) today announced the closing of the sale of 4.095 acres in an opportunity zone, for approximately $935,000, or approximately $228,000 per acre (the “MOB Land Sale”). The land parcel is located on the east side of Interstate 95 and is on the south side of LPGA Boulevard adjacent to the East Coast Surgery Center, which was built by the buyer group on land previously acquired from the Company in 2015. The buyer intends to start development of the parcel for a medical office use sometime in 2019. The estimated gain on the Land Sale is approximately $868,000, or approximately $0.12 per share, after tax. The Company intends to utilize the proceeds from the MOB Land Sale to fund a portion of a previously acquired income property, through a reverse 1031 like-kind exchange structure. As of a result of the Land Sale, the Company, year-to-date, has sold approximately 2,700
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- CTO Realty Growth, Inc. (NYSE: CTO) is now covered by analysts at Alliance Global Partners. They set a "buy" rating and a $20.00 price target on the stock.MarketBeat
- CTO Realty Growth Announces Pricing of Public Offering of 6.375% Series A Cumulative Redeemable Preferred StockGlobeNewswire
- CTO Realty Growth Announces Commencement of Public Offering of 6.375% Series A Cumulative Redeemable Preferred Stock [Yahoo! Finance]Yahoo! Finance
CTO
Earnings
- 2/22/24 - Beat
CTO
Sec Filings
- 4/10/24 - Form 8-K
- 4/5/24 - Form 424B5
- 4/4/24 - Form FWP
- CTO's page on the SEC website