Consolidated-Tomoka Land $NYSEAMERICAN:CTO Stock Rating Lowered by Zacks Investment Research
Consolidated-Tomoka Land (NYSEAMERICAN:CTO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.
According to Zacks, “CTO Realty Growth Inc. is a real estate company, which owns income properties. CTO Realty Growth Inc., formerly known as Consolidated-Tomoka Land Co., is based in DAYTONA BEACH, Fla. “
Separately, Janney Montgomery Scott began coverage on shares of Consolidated-Tomoka Land in a research report on Wednesday. They set a “buy” rating and a $55.00 target price on the stock.
Shares of Consolidated-Tomoka Land stock opened at $46.73 on Friday. Consolidated-Tomoka Land has a 1 year low of $33.41 and a 1 year high of $68.40.
Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $2.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.46). The company had revenue of $13.01 million for the quarter, compared to the consensus estimate of $13.59 million.
In other news, Director George R. Brokaw purchased 1,500 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were purchased at an average price of $40.32 per share, for a total transaction of $60,480.00. Following the transaction, the director now owns 7,191 shares of the company’s stock, valued at $289,941.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Several hedge funds and other institutional investors have recently modified their holdings of CTO. Victory Capital Management Inc. grew its position in Consolidated-Tomoka Land by 176.7% during the first quarter. Victory Capital Management Inc. now owns 1,093 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 698 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Consolidated-Tomoka Land by 28.6% during the first quarter. BNP Paribas Arbitrage SA now owns 1,520 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 338 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Consolidated-Tomoka Land by 10.0% during the first quarter. Alliancebernstein L.P. now owns 6,600 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 600 shares during the period. Invesco Ltd. purchased a new stake in shares of Consolidated-Tomoka Land during the first quarter valued at approximately $322,000. Finally, Gamco Investors INC. ET AL purchased a new stake in shares of Consolidated-Tomoka Land during the second quarter valued at approximately $514,000.
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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