Brokerages expect Catchmark Timber Trust Inc (NYSE:CTT) to announce $22.84 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Catchmark Timber Trust’s earnings, with estimates ranging from $22.40 million to $23.47 million. Catchmark Timber Trust reported sales of $26.84 million in the same quarter last year, which indicates a negative year over year growth rate of 14.9%. The company is scheduled to announce its next quarterly earnings report on Thursday, August 2nd.
On average, analysts expect that Catchmark Timber Trust will report full-year sales of $98.82 million for the current fiscal year, with estimates ranging from $96.40 million to $103.35 million. For the next financial year, analysts anticipate that the firm will post sales of $110.14 million per share, with estimates ranging from $102.32 million to $119.21 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Catchmark Timber Trust.
Catchmark Timber Trust (NYSE:CTT) last posted its quarterly earnings results on Friday, May 4th. The financial services provider reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.01). Catchmark Timber Trust had a negative return on equity of 3.76% and a negative net margin of 16.17%. The company had revenue of $24.10 million during the quarter, compared to the consensus estimate of $22.38 million.
A number of equities analysts have recently commented on CTT shares. Zacks Investment Research raised Catchmark Timber Trust from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Monday, April 2nd. ValuEngine lowered Catchmark Timber Trust from a “buy” rating to a “hold” rating in a report on Wednesday, June 13th. Royal Bank of Canada started coverage on Catchmark Timber Trust in a report on Wednesday, May 2nd. They issued a “sector perform” rating and a $14.00 price target for the company. Finally, Stifel Nicolaus raised their price target on Catchmark Timber Trust from $13.50 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, April 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.13.
Several hedge funds have recently modified their holdings of CTT. Millennium Management LLC raised its position in shares of Catchmark Timber Trust by 532.6% in the fourth quarter. Millennium Management LLC now owns 1,071,649 shares of the financial services provider’s stock worth $14,071,000 after buying an additional 902,238 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Catchmark Timber Trust by 90.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,349,900 shares of the financial services provider’s stock worth $17,724,000 after buying an additional 641,300 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Catchmark Timber Trust by 210.5% in the first quarter. Nuveen Asset Management LLC now owns 937,284 shares of the financial services provider’s stock worth $11,688,000 after buying an additional 635,413 shares in the last quarter. BlackRock Inc. raised its position in shares of Catchmark Timber Trust by 19.4% in the fourth quarter. BlackRock Inc. now owns 3,250,203 shares of the financial services provider’s stock worth $42,674,000 after buying an additional 527,152 shares in the last quarter. Finally, Brookfield Asset Management Inc. raised its position in shares of Catchmark Timber Trust by 165.1% in the first quarter. Brookfield Asset Management Inc. now owns 626,887 shares of the financial services provider’s stock worth $7,817,000 after buying an additional 390,387 shares in the last quarter. Institutional investors own 76.13% of the company’s stock.
Shares of Catchmark Timber Trust stock traded up $0.20 during trading hours on Thursday, reaching $12.86. The company had a trading volume of 4,234 shares, compared to its average volume of 332,173. Catchmark Timber Trust has a one year low of $10.81 and a one year high of $13.73. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.44 and a quick ratio of 0.44. The firm has a market capitalization of $625.07 million, a P/E ratio of -37.24 and a beta of 0.62.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Thursday, May 31st were given a $0.135 dividend. The ex-dividend date of this dividend was Wednesday, May 30th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.20%. Catchmark Timber Trust’s dividend payout ratio (DPR) is presently -158.82%.
Catchmark Timber Trust Company Profile
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.
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