Consolidated-Tomoka Land (NYSEAMERICAN:CTO) Cut to Hold at 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 released on Friday, January 5th.

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. “

CTO has been the topic of a number of other reports. BidaskClub raised shares of Consolidated-Tomoka Land from a hold rating to a buy rating in a research note on Wednesday, September 13th. B. Riley set a $80.00 target price on shares of Consolidated-Tomoka Land and gave the stock a buy rating in a research note on Monday, November 13th. Finally, FBR & Co reissued a buy rating on shares of Consolidated-Tomoka Land in a research note on Thursday, October 19th.

Shares of Consolidated-Tomoka Land (NYSEAMERICAN CTO) opened at $67.06 on Friday. Consolidated-Tomoka Land has a twelve month low of $49.73 and a twelve month high of $67.58. The stock has a market capitalization of $374.31, a PE ratio of 16.72 and a beta of 1.14.

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $12.38 million during the quarter, compared to analysts’ expectations of $15.03 million.

In other news, CEO John P. Albright sold 1,453 shares of Consolidated-Tomoka Land stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $62.87, for a total transaction of $91,350.11. The transaction was disclosed in a document filed with the SEC, which is accessible 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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