Zacks Investment Research lowered shares of Catchmark Timber Trust (NYSE:CTT) from a buy rating to a hold rating in a research report report published on Wednesday morning.
According to Zacks, “CatchMark Timber Trust Inc. is a real estate investment trust. The Company is involved in the ownership, management, acquisition and disposition of timberlands primarily in the United States. CatchMark Timber Trust Inc. is based in Norcross, Georgia. “
Several other equities analysts also recently weighed in on CTT. Royal Bank of Canada raised Catchmark Timber Trust from a sector perform rating to an outperform rating and set a $12.00 target price on the stock in a research report on Monday, November 5th. They noted that the move was a valuation call. ValuEngine raised Catchmark Timber Trust from a hold rating to a buy rating in a research report on Thursday, November 1st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $13.63.
Shares of NYSE CTT traded down $0.12 during trading hours on Wednesday, hitting $9.28. 362,180 shares of the company traded hands, compared to its average volume of 387,078. The company has a market cap of $449.08 million, a P/E ratio of -27.29 and a beta of 0.89. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.02 and a current ratio of 1.02. Catchmark Timber Trust has a 12 month low of $8.80 and a 12 month high of $13.73.
Catchmark Timber Trust (NYSE:CTT) last released its earnings results on Friday, November 2nd. The financial services provider reported ($1.61) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.59) by $1.98. The firm had revenue of $24.58 million for the quarter, compared to the consensus estimate of $23.04 million. Catchmark Timber Trust had a negative return on equity of 20.93% and a negative net margin of 90.95%. As a group, equities analysts predict that Catchmark Timber Trust will post -3.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Friday, November 30th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 5.82%. The ex-dividend date of this dividend is Thursday, November 29th. Catchmark Timber Trust’s dividend payout ratio (DPR) is presently -158.82%.
In other Catchmark Timber Trust news, Director Paul S. Fisher acquired 5,000 shares of the business’s stock in a transaction on Tuesday, November 6th. The shares were bought at an average price of $9.68 per share, with a total value of $48,400.00. Following the transaction, the director now directly owns 22,766 shares of the company’s stock, valued at approximately $220,374.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Cornerstone Wealth Management LLC bought a new position in shares of Catchmark Timber Trust during the 2nd quarter worth $400,000. NEXT Financial Group Inc bought a new position in shares of Catchmark Timber Trust during the 3rd quarter worth $103,000. Stevens Capital Management LP bought a new position in shares of Catchmark Timber Trust during the 2nd quarter worth $129,000. Jane Street Group LLC bought a new position in shares of Catchmark Timber Trust during the 1st quarter worth $139,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Catchmark Timber Trust during the 1st quarter worth $160,000. 77.93% of the stock is currently owned by institutional investors.
About Catchmark Timber Trust
CatchMark Timber Trust, Inc (NYSE: CTT) is a self-administered and self-managed, publicly-traded timberland REIT that strives to deliver superior risk-adjusted returns for all stakeholders through disciplined acquisitions, sustainable harvests, well-timed real estate sales and investment management. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in approximately 1.6 million acres of timberlands located in Alabama, Florida, Georgia, Louisiana, North Carolina, South Carolina, Tennessee and Texas.
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