Catchmark Timber Trust Inc (NYSE:CTT) announced a quarterly dividend on Friday, February 16th, Wall Street Journal reports. Shareholders of record on Wednesday, February 28th will be given a dividend of 0.135 per share by the financial services provider on Friday, March 16th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Tuesday, February 27th.
Catchmark Timber Trust has increased its dividend by an average of 4.7% per year over the last three years and has increased its dividend every year for the last 3 years. Catchmark Timber Trust has a dividend payout ratio of -163.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Catchmark Timber Trust to earn ($0.33) per share next year, which means the company may not be able to cover its $0.54 annual dividend with an expected future payout ratio of -163.6%.
Shares of Catchmark Timber Trust (NYSE:CTT) opened at $12.65 on Thursday. The stock has a market capitalization of $544.11, a PE ratio of -38.33 and a beta of 0.65. Catchmark Timber Trust has a 52 week low of $10.48 and a 52 week high of $13.47. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73.
A number of equities research analysts have issued reports on CTT shares. Zacks Investment Research upgraded Catchmark Timber Trust from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Tuesday, November 7th. Raymond James Financial restated a “buy” rating on shares of Catchmark Timber Trust in a research note on Thursday, December 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $13.75.
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Catchmark Timber Trust Company Profile
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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