Zacks Investment Research lowered shares of Consolidated-Tomoka Land (NYSEAMERICAN:CTO) from a buy rating to a hold rating in a report published 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. “
A number of other brokerages have also issued reports on CTO. BidaskClub upgraded shares of Consolidated-Tomoka Land from a hold rating to a buy rating in a research note on Wednesday, September 13th. FBR & Co reiterated a buy rating on shares of Consolidated-Tomoka Land in a research note on Thursday, October 19th. Finally, B. Riley reiterated a buy rating on shares of Consolidated-Tomoka Land in a research note on Wednesday, November 1st.
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 for the quarter, missing the 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 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 Securities & Exchange Commission, which is available through the SEC website.
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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