Consolidated-Tomoka Land Co. (CTO) Sees Significant Growth in Short Interest

Consolidated-Tomoka Land Co. (NYSEAMERICAN:CTO) was the target of a large increase in short interest in December. As of December 29th, there was short interest totalling 187,571 shares, an increase of 15.0% from the December 15th total of 163,129 shares. Currently, 3.5% of the company’s stock are short sold. Based on an average trading volume of 13,592 shares, the days-to-cover ratio is presently 13.8 days.

Consolidated-Tomoka Land (CTO) opened at $67.06 on Monday. Consolidated-Tomoka Land has a 1 year low of $49.73 and a 1 year high of $67.58. The company has a market cap of $374.31, a P/E ratio of 16.72 and a beta of 1.14.

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $12.38 million for the quarter, compared to analysts’ expectations of $15.03 million.

Several equities analysts have commented on CTO shares. Zacks Investment Research raised shares of Consolidated-Tomoka Land from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Thursday, November 2nd. B. Riley reissued a “buy” rating on shares of Consolidated-Tomoka Land in a research report on Wednesday, November 1st. Finally, FBR & Co set a $80.00 target price on shares of Consolidated-Tomoka Land and gave the stock a “buy” rating in a research report on Tuesday, October 31st.

In related news, CEO John P. Albright sold 1,453 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $62.87, for a total value of $91,350.11. The sale was disclosed in a legal filing with the SEC, which is available at 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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