Consolidated-Tomoka Land (NYSEAMERICAN:CTO) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday.
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. “
Several other analysts have also issued reports on the stock. B. Riley restated a “buy” rating and issued a $82.00 price objective (up from $80.00) on shares of Consolidated-Tomoka Land in a report on Tuesday, January 9th. FBR & Co restated a “buy” rating on shares of Consolidated-Tomoka Land in a report on Thursday, October 19th.
In related news, CEO John P. Albright sold 1,453 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through the SEC website.
An institutional investor recently raised its position in Consolidated-Tomoka Land stock. Acadian Asset Management LLC raised its position in Consolidated-Tomoka Land Co. (NYSEAMERICAN:CTO) by 396.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,628 shares of the financial services provider’s stock after acquiring an additional 1,300 shares during the quarter. Acadian Asset Management LLC’s holdings in Consolidated-Tomoka Land were worth $104,000 as of its most recent SEC filing.
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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