Short Interest in Consolidated-Tomoka Land Co. (CTO) Grows By 15.0%
Consolidated-Tomoka Land Co. (NYSEAMERICAN:CTO) was the recipient of a significant increase in short interest in December. As of December 29th, there was short interest totalling 187,571 shares, an increase of 15.0% from the December 15th total of 163,129 shares. Currently, 3.5% of the shares of the stock are short sold. Based on an average daily volume of 13,592 shares, the short-interest ratio is presently 13.8 days.
A number of analysts have recently issued reports on CTO shares. Zacks Investment Research raised shares of Consolidated-Tomoka Land from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Thursday, November 2nd. FBR & Co reaffirmed a “buy” rating on shares of Consolidated-Tomoka Land in a research note on Thursday, October 19th. BidaskClub raised shares of Consolidated-Tomoka Land from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 26th. Finally, B. Riley set a $80.00 target price on shares of Consolidated-Tomoka Land and gave the company a “buy” rating in a research note on Monday, November 27th.
Consolidated-Tomoka Land (CTO) traded down $0.83 on Wednesday, reaching $65.89. 25,500 shares of the company traded hands, compared to its average volume of 19,583. The stock has a market capitalization of $372.41, a PE ratio of 16.43 and a beta of 1.14. Consolidated-Tomoka Land has a 52 week low of $49.73 and a 52 week high of $67.49.
Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.04). The company had revenue of $12.38 million for the quarter, compared to analysts’ expectations of $15.03 million. Consolidated-Tomoka Land had a net margin of 7.81% and a return on equity of 2.43%.
In other news, CEO John P. Albright sold 1,453 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $62.87, for a total value of $91,350.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
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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