Consolidated-Tomoka Land (CTO) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Consolidated-Tomoka Land (NYSEAMERICAN:CTO) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

According to Zacks, “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. “

A number of other research analysts have also issued reports on the company. B. Riley reiterated a buy rating and set a $82.00 target price (up previously from $80.00) on shares of Consolidated-Tomoka Land in a research report on Tuesday. FBR & Co set a $80.00 target price on Consolidated-Tomoka Land and gave the company a buy rating in a research report on Tuesday, October 31st. Finally, BidaskClub upgraded Consolidated-Tomoka Land from a buy rating to a strong-buy rating in a research report on Tuesday, September 26th.

Shares of Consolidated-Tomoka Land (CTO) traded up $0.15 during trading hours on Thursday, hitting $67.06. The stock had a trading volume of 3,390 shares, compared to its average volume of 19,213. Consolidated-Tomoka Land has a 52-week low of $49.73 and a 52-week high of $67.58. The stock has a market cap of $374.31, a price-to-earnings ratio of 16.72 and a beta of 1.14.

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.04). Consolidated-Tomoka Land had a net margin of 7.81% and a return on equity of 2.43%. The business had revenue of $12.38 million for the quarter, compared to analysts’ expectations of $15.03 million.

In related news, CEO John P. Albright sold 1,453 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $62.87, for a total value of $91,350.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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About Consolidated-Tomoka Land

Consolidated-Tomoka Land Co is a real estate operating company. As of December 31, 2016, the Company owned and managed 31 commercial real estate properties in 10 states in the United States. Its segments include Income Properties, Commercial Loan Investments, Real Estate Operations, Golf Operations, and Agriculture and Other.

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