Consolidated-Tomoka Land Co. (NYSE:CTO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

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, FBR & Co reaffirmed a “buy” rating on shares of Consolidated-Tomoka Land in a research report on Thursday, October 19th.

Consolidated-Tomoka Land (NYSE:CTO) opened at $57.27 on Friday. Consolidated-Tomoka Land has a fifty-two week low of $49.73 and a fifty-two week high of $61.70.

Consolidated-Tomoka Land (NYSE:CTO) last issued its quarterly earnings results on Wednesday, October 18th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.04). The firm had revenue of $12.38 million for the quarter, compared to the consensus estimate of $15.03 million. Consolidated-Tomoka Land had a net margin of 7.81% and a return on equity of 2.43%.

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In related news, CFO Mark E. Patten sold 2,640 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $54.88, for a total transaction of $144,883.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in Consolidated-Tomoka Land by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 207,369 shares of the company’s stock valued at $11,810,000 after purchasing an additional 11,508 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Consolidated-Tomoka Land by 0.9% in the second quarter. Vanguard Group Inc. now owns 198,135 shares of the company’s stock worth $11,284,000 after acquiring an additional 1,788 shares during the period. State Street Corp increased its stake in shares of Consolidated-Tomoka Land by 7.6% in the second quarter. State Street Corp now owns 83,606 shares of the company’s stock worth $4,764,000 after acquiring an additional 5,901 shares during the period. Northern Trust Corp increased its stake in shares of Consolidated-Tomoka Land by 3.7% in the second quarter. Northern Trust Corp now owns 68,781 shares of the company’s stock worth $3,917,000 after acquiring an additional 2,426 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Consolidated-Tomoka Land by 4.5% in the third quarter. Wells Fargo & Company MN now owns 56,699 shares of the company’s stock worth $3,406,000 after acquiring an additional 2,434 shares during the period.

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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