Consolidated-Tomoka Land (NYSEAMERICAN:CTO) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Consolidated-Tomoka Land (NYSEAMERICAN:CTO) from a buy rating to a hold rating in a research report sent to investors on Tuesday, 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 target price on Consolidated-Tomoka Land and gave the stock a buy rating in a research note on Monday, July 15th.

CTO opened at $62.05 on Tuesday. Consolidated-Tomoka Land has a 12 month low of $49.23 and a 12 month high of $65.71.

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last released its earnings results on Wednesday, July 17th. The financial services provider reported $2.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.13. The company had revenue of $17.94 million for the quarter, compared to analyst estimates of $17.62 million.

The business also recently announced a dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 12th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, August 9th.

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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Several large investors have recently added to or reduced their stakes in CTO. Bank of Montreal Can boosted its position in shares of Consolidated-Tomoka Land by 315.0% during the 2nd quarter. Bank of Montreal Can now owns 552 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 419 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Consolidated-Tomoka Land by 825.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 796 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 710 shares during the last quarter. Aperio Group LLC purchased a new stake in shares of Consolidated-Tomoka Land in the 2nd quarter valued at about $70,000. Captrust Financial Advisors lifted its holdings in shares of Consolidated-Tomoka Land by 42.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,192 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 353 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Consolidated-Tomoka Land by 48.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,394 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 453 shares during the last quarter.

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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