Consolidated-Tomoka Land (CTO) Reports Q4 EPS of $0.99, Offers Guidance

Consolidated-Tomoka Land (NYSE: CTO) reported Q4 EPS of $0.99, versus $0.12 reported last year. Revenue for the quarter came in at $19.8 million, versus $8.37 million reported last year.

Full Year 2016 Guidance

The Company is issuing the following guidance for the year ending December 31, 2016, with regard to the Company’s range of estimates for operating results, investment and disposition activity, land sales and leverage:

Earnings per share (on a fully diluted basis)(1)(2) -- $2.75 - $3.00 per share;
Acquisition of Income-Producing Assets -- $70.0 million - $85.0 million;
Target Initial Investment Yields -- 6.00% - 8.00%;
Disposition of non-core Income Properties(2) -- $15.0 million - $25.0 million;
Target Disposition Yields -- 7.0% - 10.0%;
Land Transactions (sales value)(3) -- $25.0 million - $35.0 million; and
Leverage Target (as % of Total Enterprise Value) -- < 40.0%

For earnings history and earnings-related data on Consolidated-Tomoka Land (CTO) click here.

You May Also Be Interested In

• EU proposes to curb Airbnb and short-term rentals amid housing shortage
• Stanley Black & Decker agrees to sell Hustler mower unit to Bad Boy Mowers
• lululemon athletica (LULU) Tops Q2 EPS by $1.10, Cuts Guidance