Zacks Investment Research downgraded shares of PATRIOT TRANSPT (PATR) from OUTPERFORM to NEUTRAL on July 24, 2012, with a target price of $27.90.
Patriot Transportation Holding, Inc. is a publicly traded company, engaged in the transportation and real estate businesses. The company is based in Jacksonville, Florida. The Company's transportation business is conducted through two wholly owned subsidiaries. Florida Rock & Tank Lines, Inc. is a Southeastern transportation company concentrating in the hauling by motor carrier of liquid and dry bulk commodities. SunBelt Transport, Inc. serves the flatbed portion of the trucking industry in the Southeastern states, hauling primarily construction materials. The Company's real estate group, comprised of FRP Development Corp. and Florida Rock Properties, Inc., acquires, constructs, leases, operates and manages land and buildings to generate both current cash flows and long-term capital appreciation. The real estate group also owns real estate which is leased under mining royalty agreements or held for investment.
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