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

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, January 11th.

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 the stock. B. Riley reiterated a “buy” rating and set a $82.00 price objective (up from $80.00) on shares of Consolidated-Tomoka Land in a research note on Tuesday, January 9th. FBR & Co set a $80.00 price objective on shares of Consolidated-Tomoka Land and gave the company a “buy” rating in a research note on Tuesday, October 31st. Finally, BidaskClub upgraded shares of Consolidated-Tomoka Land from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 26th.

Consolidated-Tomoka Land (NYSEAMERICAN CTO) opened at $66.72 on Thursday. Consolidated-Tomoka Land has a one year low of $49.73 and a one year high of $67.58. The stock has a market cap of $372.41, a P/E ratio of 16.64 and a beta of 1.14.

In other news, CEO John P. Albright sold 1,453 shares of Consolidated-Tomoka Land stock in a transaction on Friday, December 15th. The shares were sold at an average price of $62.87, for a total transaction of $91,350.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

A hedge fund recently raised its stake in Consolidated-Tomoka Land stock. Acadian Asset Management LLC raised its position in Consolidated-Tomoka Land Co. (NYSEAMERICAN:CTO) by 396.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,628 shares of the financial services provider’s stock after buying an additional 1,300 shares during the period. Acadian Asset Management LLC’s holdings in Consolidated-Tomoka Land were worth $104,000 at the end of the most recent quarter.

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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.

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