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

Zacks Investment Research lowered shares of Consolidated-Tomoka Land (NYSEAMERICAN:CTO) from a buy rating to a hold rating in a report published 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 brokerages also recently commented on CTO. B. Riley set a $80.00 price objective on shares of Consolidated-Tomoka Land and gave the stock a buy rating in a research report on Monday, November 27th. BidaskClub upgraded shares of 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 shares of Consolidated-Tomoka Land and gave the stock a buy rating in a research report on Tuesday, October 31st.

Shares of Consolidated-Tomoka Land (CTO) opened at $67.06 on Thursday. Consolidated-Tomoka Land has a 12-month low of $49.73 and a 12-month high of $67.58. The company 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 released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.18 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $15.03 million.

In other Consolidated-Tomoka Land news, CEO John P. Albright sold 1,453 shares of the company’s stock in a transaction on Friday, December 15th. The shares were 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 is available at this hyperlink.

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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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