Consolidated-Tomoka Land (NYSEAMERICAN:CTO) Downgraded by Zacks Investment Research to Hold

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Consolidated-Tomoka Land (NYSEAMERICAN:CTO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

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. “

Separately, B. Riley set a $82.00 price objective on shares of Consolidated-Tomoka Land and gave the company a “buy” rating in a research note on Monday.

Shares of CTO traded down $1.64 during mid-day trading on Friday, reaching $63.11. The company had a trading volume of 30,200 shares, compared to its average volume of 23,910. Consolidated-Tomoka Land has a 1-year low of $49.23 and a 1-year high of $67.01.

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $1.24 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.01). The company had revenue of $14.26 million for the quarter, compared to analyst estimates of $11.87 million.

In other news, CFO Mark E. Patten sold 5,000 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $59.92, for a total transaction of $299,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Casey R. Wold acquired 500 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was bought at an average price of $59.12 per share, for a total transaction of $29,560.00. Following the completion of the transaction, the director now owns 2,764 shares of the company’s stock, valued at approximately $163,407.68. The disclosure for this purchase can be found here.

Several hedge funds have recently bought and sold shares of the stock. Great West Life Assurance Co. Can increased its position in shares of Consolidated-Tomoka Land by 2.6% in the fourth quarter. Great West Life Assurance Co. Can now owns 6,628 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 167 shares during the last quarter. Cetera Advisors LLC boosted its stake in shares of Consolidated-Tomoka Land by 2.8% during the fourth quarter. Cetera Advisors LLC now owns 8,615 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 234 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Consolidated-Tomoka Land by 16.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,800 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 400 shares during the period. FMR LLC lifted its stake in Consolidated-Tomoka Land by 0.4% in the fourth quarter. FMR LLC now owns 110,539 shares of the financial services provider’s stock worth $5,803,000 after acquiring an additional 467 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Consolidated-Tomoka Land by 3.0% in the fourth quarter. Bank of New York Mellon Corp now owns 23,315 shares of the financial services provider’s stock worth $1,223,000 after acquiring an additional 671 shares during the period.

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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