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LONDON, UK / ACCESSWIRE / August 30, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Consolidated-Tomoka Land Co. (NYSE: CTO) ("Consolidated-Tomoka"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=CTO. The Company announced on August 25, 2017, the sale of nearly 38,750 acres of subsurface interests in Osceola County, Florida for around $2.1 million. Thus, Consolidated-Tomoka has sold approximately 27% of the subsurface interests owned by the Company in Osceola County, Florida through this Osceola Subsurface Sale. The sale also represents around 7.8% of its 500,000 acres of total subsurface interests, all of which is located in Florida. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Real Estate Development industry. Pro-TD has currently selected Gazit Globe Ltd (NYSE: GZT) for due-diligence and potential coverage as the Company announced on August 22, 2017, its financial results for first half 2017 which ended on June 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Gazit Globe when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CTO; also brushing on GZT. Go directly to your stock of interest and access today's free coverage at:

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Gains and Sales Proceeds

It is anticipated that Consolidated-Tomoka would gain approximately $2.08 million, or approximately $0.23 per share, after tax, from the sale of its subsurface interests in Osceola County.

The Company intends to use the sale proceeds to acquire an income property through the 1031 like-kind exchange structure.

Other Sale Contracts

The Company also announced the following two new land sales contracts:

Sale of 21 Acres Land in Daytona Beach, Florida -

• Consolidated-Tomoka entered into a contract for the sale of approximately 21 acres of land for a gross sales price of around $5.78 million, or approximately $275,000 per acre, on August 24, 2017.

• This above-mentioned 21-acre land is near the RaceTrac convenience store (presently under construction) at the southeast corner of LPGA Boulevard and Williamson Boulevard, in Daytona Beach, Florida.

• This contract considers the transaction closing in two components – with the majority of the value and applicable acreage closing by the end of 2017.

Sale of 71 Acres Land near Clyde Morris Boulevard -

• Consolidated-Tomoka also entered into a contract for the sale of approximately 71 acres of land for a gross sales price of $5.0 million, or approximately $70,000 per acre, on August 25, 2017.

• This above-mentioned 71-acre land is situated on the east side of Clyde Morris Boulevard, south of the existing CVS store on LPGA Boulevard and adjacent to the 28-acre land sold earlier in 2017, in Daytona Beach, Florida.

• Under this contract, it is anticipated that the transaction would close by the second quarter of 2018.

Update on Land Pipeline

• Owing to the Land Contracts mentioned above, Consolidated-Tomoka now has around nine executed purchase and sale agreements with nine different buyers.

• This represents an aggregate potential sale of around 2,100 acres or approximately 26% of Consolidated-Tomoka's land holdings.

• The sales proceeds for these are estimated to be around $75 million, or approximately $36,000 per acre.

Transactions Completion Schedule and Conditions

• All the transactions listed here are currently in different stages of due diligence by the various buyers. In some cases, however, submissions have been made to the planning and development departments of the City of Daytona Beach and other approval and permitting activities with other applicable governmental authorities.

• Apart from customary closing conditions, the majority of the transactions depend on the receipt of approvals or permits from various governmental authorities, as well as other matters, which are beyond Consolidated-Tomoka's control.

• If these approvals are not obtained, the prospective buyers can terminate their respective agreements prior to closing. As a result of which, there would be no assurance about the likelihood or timing of any of these potential land transactions being completed or about the final terms, including the sales price.

About Consolidated-Tomoka Land Co.

Consolidated-Tomoka is a publicly traded real estate Company based in Florida. The Company owns a portfolio of income investments in diversified markets in the United States, including over 1.9 million square feet of income properties, as well as approximately 8,100 acres of land in the Daytona Beach area.

Last Close Stock Review

Consolidated-Tomoka Land's share price finished yesterday's trading session at $54.73, marginally up 0.33%. A total volume of 3.88 thousand shares have exchanged hands. The Company's stock price advanced 1.73% in the last three months and 4.35% in the previous twelve months. Additionally, the stock gained 2.45% since the start of the year. Shares of the Company have a PE ratio of 10.38 and have a dividend yield of 0.37%. The stock currently has a market cap of $305.94 million.

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