Consolidated-Tomoka Land Co. (CTO) Stock Rating Lowered by Zacks Investment Research

Consolidated-Tomoka Land Co. (NYSE:CTO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, July 24th.

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. “

Shares of Consolidated-Tomoka Land (NYSE:CTO) opened at 53.95 on Monday. The company has a 50-day moving average price of $55.11 and a 200-day moving average price of $54.41. Consolidated-Tomoka Land has a 12 month low of $48.65 and a 12 month high of $58.28. The stock has a market cap of $303.63 million and a price-to-earnings ratio of 10.23.

Consolidated-Tomoka Land (NYSE:CTO) last released its earnings results on Wednesday, July 19th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.42. Consolidated-Tomoka Land had a return on equity of 9.30% and a net margin of 16.11%. The company had revenue of $22.84 million for the quarter, compared to the consensus estimate of $13.23 million.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its position in Consolidated-Tomoka Land by 173.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 26,204 shares of the company’s stock worth $1,493,000 after buying an additional 16,604 shares in the last quarter. Chicago Equity Partners LLC purchased a new position in Consolidated-Tomoka Land during the second quarter worth approximately $614,000. Wells Fargo & Company MN increased its position in Consolidated-Tomoka Land by 1.0% in the second quarter. Wells Fargo & Company MN now owns 54,265 shares of the company’s stock worth $3,090,000 after buying an additional 538 shares in the last quarter. Alliancebernstein L.P. purchased a new position in Consolidated-Tomoka Land during the second quarter worth approximately $214,000. Finally, Teachers Advisors LLC boosted its stake in shares of Consolidated-Tomoka Land by 2.9% in the second quarter. Teachers Advisors LLC now owns 7,051 shares of the company’s stock worth $402,000 after buying an additional 200 shares during the last quarter.

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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