Consolidated-Tomoka Land (CTO) Rating Lowered to Hold at Zacks Investment Research

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

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 analysts also recently issued reports on the company. B. Riley set a $80.00 target price on Consolidated-Tomoka Land and gave the stock a “buy” rating in a research note on Monday, November 27th. BidaskClub raised Consolidated-Tomoka Land from a “hold” rating to a “buy” rating in a research report on Wednesday, September 13th. Finally, FBR & Co set a $80.00 price objective on Consolidated-Tomoka Land and gave the stock a “buy” rating in a research report on Tuesday, October 31st.

Shares of Consolidated-Tomoka Land (CTO) traded up $0.88 on Thursday, hitting $67.58. The company’s stock had a trading volume of 10,517 shares, compared to its average volume of 18,827. Consolidated-Tomoka Land has a twelve month low of $49.73 and a twelve month high of $67.58. The firm has a market cap of $372.41, a P/E ratio of 16.85 and a beta of 1.14.

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last issued 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 return on equity of 2.43% and a net margin of 7.81%. The company had revenue of $12.38 million during the quarter, compared to analyst estimates of $15.03 million.

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

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Consolidated-Tomoka Land Company Profile

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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