Catchmark Timber Trust Inc (NYSE:CTT) has been assigned an average recommendation of “Hold” from the six research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $12.50.
CTT has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Raymond James Financial reaffirmed a “buy” rating on shares of Catchmark Timber Trust in a research report on Thursday, December 7th.
Institutional investors have recently added to or reduced their stakes in the company. Deprince Race & Zollo Inc. raised its stake in Catchmark Timber Trust by 114.1% during the 4th quarter. Deprince Race & Zollo Inc. now owns 3,254,679 shares of the financial services provider’s stock worth $42,734,000 after acquiring an additional 1,734,259 shares in the last quarter. BlackRock Inc. raised its stake in Catchmark Timber Trust by 19.4% during the 4th quarter. BlackRock Inc. now owns 3,250,203 shares of the financial services provider’s stock worth $42,674,000 after acquiring an additional 527,152 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in Catchmark Timber Trust by 10.8% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,949,996 shares of the financial services provider’s stock worth $24,589,000 after acquiring an additional 189,833 shares in the last quarter. Vanguard Group Inc. raised its stake in Catchmark Timber Trust by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,813,987 shares of the financial services provider’s stock worth $20,626,000 after acquiring an additional 88,248 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Catchmark Timber Trust by 90.5% during the 4th quarter. Renaissance Technologies LLC now owns 1,349,900 shares of the financial services provider’s stock worth $17,724,000 after acquiring an additional 641,300 shares in the last quarter. 73.03% of the stock is owned by institutional investors and hedge funds.
Shares of Catchmark Timber Trust (CTT) traded up $0.08 during mid-day trading on Wednesday, reaching $12.61. 19,407 shares of the company’s stock traded hands, compared to its average volume of 224,876. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. Catchmark Timber Trust has a 52 week low of $10.48 and a 52 week high of $13.47. The stock has a market cap of $557.58, a PE ratio of -37.88 and a beta of 0.65.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.135 per share. The ex-dividend date is Tuesday, February 27th. This represents a $0.54 annualized dividend and a dividend yield of 4.28%. Catchmark Timber Trust’s dividend payout ratio (DPR) is currently -163.63%.
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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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