Today’s 13GD Filing: Consolidated Tomoka Land Co: David Winters’s Wintergreen Advisers Opened Big New Position

Today's 13GD Filing: Consolidated Tomoka Land Co: David Winters's Wintergreen Advisers Opened Big New Position

The New David Winters’s Wintergreen Advisers Holding in Consolidated Tomoka Land Co

Wintergreen Advisers filed with the SEC SC 13D/A form for Consolidated Tomoka Land Co. The form can be accessed here: 000091957416016842. As reported in David Winters’s Wintergreen Advisers’s form, the filler as of late owns 27.1% or 1,553,515 shares of the Finance–company.

Consolidated Tomoka Land Co stake is a new one for the for the hedge fund and it was filed because of activity on November 14, 2016. We feel this shows David Winters’s Wintergreen Advisers’s positive view for the stock. For a hedge fund managing $2.18 billion in assets and having 8+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.

The hedge fund is active investor in the Finance sector. In the manager’s last 13-F, we saw 25% of David Winters’s Wintergreen Advisers’s US equities portfolio is in this sector.

Reasons Why David Winters’s Wintergreen Advisers Bought – Consolidated Tomoka Land Co Stock

Purpose of Transaction

The Reporting Persons acquired the Shares for investment purposes in the course of the Reporting Persons’ investing activities, and will review their investment in the Issuer on a regular basis. On November 14, 2016, the Reporting Persons (excluding Pollock) delivered a proposal (the “Proposal”) to the Issuer presenting four director nominees for inclusion in the Issuer’s 2017 proxy statement. A copy of the Proposal is attached hereto as Exhibit B and incorporated herein by reference.

At the Issuer’s 2016 Annual Meeting, over 69% of the votes cast supported the proposal to hire an independent adviser to evaluate ways to maximize shareholder value through the sale of the Issuer or through the liquidation of the Issuer’s assets. Although the Issuer retained Deutsche Bank to review strategic alternatives, the Reporting Persons believe CTO has been less than forthcoming regarding the results of the review, and Wintergreen Adviser’s nominees will seek to complete this mandate in a transparent and shareholder-friendly manner.

Wintergreen Advisers’ nominees (the “Nominees”) for the Issuer’s 2017 annual meeting include (1) Liz Cohernour, Chief Operating Officer of Wintergreen Advisers, (2) Evan Ho, a former employee of Wintergreen Advisers who currently provides consulting services to Wintergreen Advisers pursuant to an agreement between Wintergreen Advisers and an entity controlled by Mr. Ho, (3) Edward Pollock, who currently provides consulting services to Wintergreen Advisers pursuant to an agreement between Wintergreen Advisers and an entity controlled by Pollock, and (4) David J. Winters, Chief Executive Officer of Wintergreen Advisers. Although there is no formal written agreement, it is anticipated that each of the Nominees will vote with the other Reporting Persons and the other Nominees.

The Reporting Persons intend to closely evaluate the performance of the Issuer, including, but not limited to, its share price, business, assets, operations, financial condition, capital structure, management’s performance and prospects of the Issuer. In addition, the Reporting Persons reserve the right to, without limitation, acquire additional Shares, dispose of all or some of the Shares they currently hold from time to time, in each case in open market or private transactions, block sales or purchases or otherwise, or may continue to hold the Shares. Further, the Reporting Persons reserve the right to revise their plans or intentions and to take any and all actions that they may deem appropriate to maximize the value of their investment in the Issuer in light of their general investment policies, market conditions, and subsequent developments affecting the Issuer.

The Reporting Persons have no plans or proposals as of the date of this filing which, other than as expressly set forth above, relate to, or would result in, any of the actions enumerated in clauses (a) through (j) of Item 4 of Schedule 13D.

Business Profile

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.

SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.

David Winters’s Wintergreen Advisers website.

About 9,589 shares traded hands. Consolidated-Tomoka Land Co. (NYSEMKT:CTO) has risen 11.86% since April 20, 2016 and is uptrending. It has outperformed by 7.30% the S&P500.

Consolidated-Tomoka Land Co. is a real estate operating company. The company has a market cap of $316.48 million. The Firm owns and manages over 40 commercial real estate properties in approximately 10 states in the United States. It has a 18.74 P/E ratio. The Company’s divisions include Income Properties, Commercial Loan Investments, Real Estate Operations, Golf Operations, and Agriculture and Other.

More important recent Consolidated-Tomoka Land Co. (NYSEMKT:CTO) news were published by: Businesswire.com which released: “Consolidated Tomoka Announces Receipt of Shareholder Notice for 2017 Annual …” on November 17, 2016, also Businesswire.com published article titled: “Consolidated-Tomoka Land Co. Reports Third Quarter 2016 Earnings of $1.44 Per …”, Seekingalpha.com published: “Consolidated Tomoka Land Company: An Open Letter To The Board” on March 04, 2016. More interesting news about Consolidated-Tomoka Land Co. (NYSEMKT:CTO) was released by: Businesswire.com and their article: “Consolidated Tomoka Announces Receipt of Shareholder Proposal from Wintergreen …” with publication date: November 24, 2015.

According to Zacks Investment Research, “Consolidated-Tomoka Land Co. is primarily engaged in the real estate industry through its wholly owned subsidiaries. Real estate operations include commercial real estate, real estate development, residential and golf operations, property leasing, leasing properties for oil and mineral exploration and the sale of forest products.”

CTO Company Profile

Consolidated-Tomoka Land Co., incorporated on October 17, 1910, is a real estate operating company. The Firm owns and manages over 40 commercial real estate properties in approximately 10 states in the United States. The Company’s divisions include Income Properties, Commercial Loan Investments, Real Estate Operations, Golf Operations, and Agriculture and Other. The Firm also leases property for over 20 billboards; has agricultural activities 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 Firm owns approximately 30 single-tenant and over eight multi-tenant properties with approximately 1,700,000 square feet of gross leasable space. The Firm also owns and manages a land portfolio of over 10,500 acres.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: ,

Leave a Comment