In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Consolidated Tomoka Land Co. (NYSEMKT:CTO) reported that Wintergreen Advisers has picked up 1,553,515 of common stock as of 2017-01-24.
The acquisition brings the aggregate amount owned by Wintergreen Advisers to a total of 1,553,515 representing a 27.1% stake in the company.
For those not familiar with the company, Consolidated-Tomoka Land Co. is a real estate operating company. The Company owns and manages over 40 commercial real estate properties in approximately 10 states in the United States. The Company’s segments include Income Properties, Commercial Loan Investments, Real Estate Operations, Golf Operations, and Agriculture and Other. The Company also leases property for over 20 billboards; has agricultural operations that are managed by a third-party, which consists of leasing land for hay and sod production, timber harvesting and hunting leases, and owns and manages subsurface interests. The Company owns approximately 30 single-tenant and over eight multi-tenant properties with approximately 1,700,000 square feet of gross leasable space. It has over four commercial loan investments, including a fixed-rate mezzanine commercial mortgage loan, a fixed-rate first mortgage, a variable-rate B-Note, a variable-rate mezzanine commercial mortgage loan and a variable-rate first mortgage loan.
A glance at Consolidated Tomoka Land Co. (NYSEMKT:CTO)’s key stats reveals a current market capitalization of 315.32 million based on 5.74 million shares outstanding and a price at last close of $54.11 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-11-10, Wintergreen picked up 10,000 at a purchase price of $52.25. This brings their total holding to 1,553,075 as of the date of the filing.
On the sell side, the most recent transaction saw Albright unload 2,500 shares at a sale price of $55.51. This brings their total holding to 150,725.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Consolidated Tomoka Land Co. (NYSEMKT:CTO) as things move forward to see if its progress aligns with these transactions.
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