Consolidated-Tomoka Land (CTO) Downgraded 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 report issued on Thursday morning.
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 equities analysts also recently issued reports on CTO. BidaskClub upgraded shares of Consolidated-Tomoka Land from a hold rating to a buy rating in a report on Wednesday, September 13th. FBR & Co reissued a buy rating on shares of Consolidated-Tomoka Land in a research note on Thursday, October 19th. Finally, B. Riley reissued a buy rating on shares of Consolidated-Tomoka Land in a research note on Wednesday, November 1st.
Consolidated-Tomoka Land (NYSEAMERICAN:CTO) opened at $67.06 on Thursday. The stock has a market cap of $374.31, a PE ratio of 16.72 and a beta of 1.14. Consolidated-Tomoka Land has a twelve month low of $49.73 and a twelve month high of $67.58.
Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.04). The company had revenue of $12.38 million during the quarter, compared to analysts’ expectations of $15.03 million. Consolidated-Tomoka Land had a net margin of 7.81% and a return on equity of 2.43%.
In related news, CEO John P. Albright sold 1,453 shares of the 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 through this hyperlink.
TRADEMARK VIOLATION NOTICE: This news story was first reported by Daily Political and is the property of of Daily Political. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this news story can be read at https://www.dailypolitical.com/2018/01/14/consolidated-tomoka-land-cto-downgraded-to-hold-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Consolidated-Tomoka Land Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated-Tomoka Land and related companies with MarketBeat.com's FREE daily email newsletter.