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

Zacks Investment Research downgraded shares of Consolidated-Tomoka Land (NYSEAMERICAN:CTO) from a hold rating to a sell rating in a report issued 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. “

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Separately, B. Riley reiterated a buy rating and issued a $82.00 target price (up previously from $80.00) on shares of Consolidated-Tomoka Land in a research note on Tuesday, January 9th.

NYSEAMERICAN:CTO traded down $0.18 on Thursday, hitting $60.85. 10,434 shares of the stock were exchanged, compared to its average volume of 16,542. Consolidated-Tomoka Land has a fifty-two week low of $50.51 and a fifty-two week high of $67.97.

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last announced its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.13). The firm had revenue of $17.48 million for the quarter, compared to analyst estimates of $16.16 million. Consolidated-Tomoka Land had a return on equity of 4.97% and a net margin of 12.17%.

A number of large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its holdings in shares of Consolidated-Tomoka Land by 396.3% in the 4th quarter. Acadian Asset Management LLC now owns 1,628 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 1,300 shares during the last quarter. PenderFund Capital Management Ltd. bought a new stake in shares of Consolidated-Tomoka Land in the 4th quarter worth approximately $104,000. MetLife Investment Advisors LLC bought a new stake in shares of Consolidated-Tomoka Land in the 4th quarter worth approximately $156,000. AXA bought a new stake in shares of Consolidated-Tomoka Land in the 4th quarter worth approximately $203,000. Finally, Bessemer Group Inc. bought a new stake in shares of Consolidated-Tomoka Land in the 4th quarter worth approximately $330,000.

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Consolidated-Tomoka Land Company Profile

Consolidated-Tomoka Land Co, together with its subsidiaries, operates as a diversified real estate operating company in the United States. The company operates through four segments: Income Properties, Commercial Loan Investments, Real Estate Operations, and Golf Operations. It owns and manages commercial real estate properties.

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