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

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research 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. “

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

NYSEAMERICAN:CTO opened at $59.66 on Thursday. Consolidated-Tomoka Land has a 1 year low of $50.51 and a 1 year high of $67.97.

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.13). The company had revenue of $17.48 million during the quarter, compared to the consensus estimate of $16.16 million. Consolidated-Tomoka Land had a net margin of 12.17% and a return on equity of 4.97%.

Several hedge funds have recently modified their holdings of the stock. MetLife Investment Advisors LLC bought a new stake in shares of Consolidated-Tomoka Land during the 4th quarter worth approximately $156,000. Two Sigma Investments LP bought a new stake in shares of Consolidated-Tomoka Land during the 4th quarter worth approximately $635,000. Renaissance Technologies LLC lifted its stake in shares of Consolidated-Tomoka Land by 33.1% during the 4th quarter. Renaissance Technologies LLC now owns 45,400 shares of the financial services provider’s stock worth $2,883,000 after acquiring an additional 11,300 shares during the last quarter. AXA bought a new stake in shares of Consolidated-Tomoka Land during the 4th quarter worth approximately $203,000. Finally, Martingale Asset Management L P purchased a new position in Consolidated-Tomoka Land during the 4th quarter worth $845,000.

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About Consolidated-Tomoka Land

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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