Stifel Nicolaus Trims CatchMark Timber Trust, Inc. (CTT) Target Price to $12.50

CatchMark Timber Trust, Inc. (NYSE:CTT) had its price target lowered by Stifel Nicolaus from $13.50 to $12.50 in a research report report published on Monday, October 16th. Stifel Nicolaus currently has a buy rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded CatchMark Timber Trust from a hold rating to a sell rating in a research report on Thursday, August 10th. Zacks Investment Research downgraded CatchMark Timber Trust from a buy rating to a hold rating in a research report on Thursday, August 10th. Finally, ValuEngine upgraded CatchMark Timber Trust from a sell rating to a hold rating in a research report on Wednesday, September 20th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $12.75.

CatchMark Timber Trust (CTT) opened at 12.47 on Monday. CatchMark Timber Trust has a 52 week low of $10.05 and a 52 week high of $13.11. The stock’s 50 day moving average price is $12.45 and its 200-day moving average price is $11.77. The company’s market cap is $484.12 million.

CatchMark Timber Trust (NYSE:CTT) last posted its quarterly earnings data on Thursday, August 3rd. The financial services provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. CatchMark Timber Trust had a negative return on equity of 3.26% and a negative net margin of 13.85%. The business had revenue of $26.84 million for the quarter, compared to the consensus estimate of $22.87 million. On average, equities research analysts forecast that CatchMark Timber Trust will post ($0.36) earnings per share for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in CTT. Pax World Management LLC bought a new position in shares of CatchMark Timber Trust in the second quarter worth $10,778,000. Ranger Global Real Estate Advisors LLC bought a new position in shares of CatchMark Timber Trust in the first quarter worth $6,436,000. Bank of America Corp DE increased its holdings in shares of CatchMark Timber Trust by 430.8% in the first quarter. Bank of America Corp DE now owns 383,542 shares of the financial services provider’s stock worth $4,418,000 after purchasing an additional 311,282 shares during the period. Real Estate Management Services LLC increased its holdings in shares of CatchMark Timber Trust by 127.9% in the second quarter. Real Estate Management Services LLC now owns 368,000 shares of the financial services provider’s stock worth $4,184,000 after purchasing an additional 206,500 shares during the period. Finally, Pictet Asset Management Ltd. increased its holdings in shares of CatchMark Timber Trust by 10.8% in the third quarter. Pictet Asset Management Ltd. now owns 1,949,996 shares of the financial services provider’s stock worth $24,589,000 after purchasing an additional 189,833 shares during the period. 63.62% of the stock is currently owned by hedge funds and other institutional investors.

About CatchMark Timber Trust

CatchMark Timber Trust, Inc is a real estate company investing in timberlands. The Company primarily engages in the ownership, management, acquisition and disposition of timberlands located in the United States. It is focused on investing in timberlands and to manage such assets to provide current income and attractive long-term returns to its stockholders.

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