Equities research analysts forecast that Catchmark Timber Trust Inc (NYSE:CTT) will report $22.84 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Catchmark Timber Trust’s earnings, with the lowest sales estimate coming in at $22.40 million and the highest estimate coming in at $23.47 million. Catchmark Timber Trust reported sales of $26.84 million in the same quarter last year, which would suggest a negative year over year growth rate of 14.9%. The company is scheduled to report its next quarterly earnings report on Thursday, August 2nd.
According to Zacks, analysts expect that Catchmark Timber Trust will report full year sales of $98.82 million for the current financial year, with estimates ranging from $96.40 million to $103.35 million. For the next year, analysts forecast that the company will post sales of $110.14 million per share, with estimates ranging from $102.32 million to $119.21 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Catchmark Timber Trust.
Catchmark Timber Trust (NYSE:CTT) last released its quarterly earnings results on Friday, May 4th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.01). Catchmark Timber Trust had a negative net margin of 16.17% and a negative return on equity of 3.76%. The business had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $22.38 million.
CTT has been the topic of several recent analyst reports. ValuEngine raised shares of Catchmark Timber Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research downgraded shares of Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research note on Monday, March 26th. Royal Bank of Canada initiated coverage on shares of Catchmark Timber Trust in a research note on Wednesday, May 2nd. They issued a “sector perform” rating and a $14.00 target price on the stock. B. Riley initiated coverage on shares of Catchmark Timber Trust in a research note on Tuesday, May 1st. They issued a “buy” rating and a $14.50 target price on the stock. Finally, Stifel Nicolaus increased their target price on shares of Catchmark Timber Trust from $13.50 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, April 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.13.
Shares of CTT traded up $0.18 during midday trading on Monday, hitting $12.49. The stock had a trading volume of 15,558 shares, compared to its average volume of 306,396. Catchmark Timber Trust has a 1 year low of $10.81 and a 1 year high of $13.73. The company has a market cap of $627.04 million, a P/E ratio of -36.59 and a beta of 0.62. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.57.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Wednesday, May 30th. Catchmark Timber Trust’s dividend payout ratio is currently -158.82%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. grew its holdings in shares of Catchmark Timber Trust by 42.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 81,576 shares of the financial services provider’s stock worth $1,072,000 after purchasing an additional 24,367 shares during the last quarter. Comerica Bank bought a new position in shares of Catchmark Timber Trust in the fourth quarter worth about $1,903,000. Aperio Group LLC grew its holdings in shares of Catchmark Timber Trust by 36.8% in the fourth quarter. Aperio Group LLC now owns 43,717 shares of the financial services provider’s stock worth $574,000 after purchasing an additional 11,771 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of Catchmark Timber Trust in the fourth quarter worth about $117,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Catchmark Timber Trust in the fourth quarter worth about $195,000. 76.14% of the stock is currently owned by institutional investors and hedge funds.
About Catchmark Timber Trust
CatchMark Timber Trust, Inc (NYSE: CTT) is a self-administered and self-managed, publicly-traded REIT that strives to deliver superior risk-adjusted returns for all stakeholders through disciplined acquisitions, sustainable harvests and well-timed sales. Headquartered in Atlanta and focused exclusively on timberland ownership, CatchMark began operations in 2007 and owns interests in approximately 520,800 acres of timberlands located in Alabama, Florida, Georgia, Louisiana, North Carolina, South Carolina, Tennessee and Texas.
Get a free copy of the Zacks research report on Catchmark Timber Trust (CTT)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Catchmark Timber Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Catchmark Timber Trust and related companies with MarketBeat.com's FREE daily email newsletter.