CatchMark Timber Trust, Inc. (NYSE:CTT) Director Paul S. Fisher bought 2,700 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were acquired at an average price of $12.84 per share, for a total transaction of $34,668.00. Following the transaction, the director now directly owns 14,918 shares in the company, valued at $191,547.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of CatchMark Timber Trust, Inc. (NYSE:CTT) traded up $0.16 during mid-day trading on Wednesday, reaching $13.17. The company’s stock had a trading volume of 225,600 shares, compared to its average volume of 158,856. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. CatchMark Timber Trust, Inc. has a 12 month low of $10.10 and a 12 month high of $13.27.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.135 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.54 dividend on an annualized basis and a yield of 4.10%. CatchMark Timber Trust’s payout ratio is currently -158.82%.
CTT has been the topic of a number of recent analyst reports. Zacks Investment Research lowered CatchMark Timber Trust from a “hold” rating to a “sell” rating in a research report on Friday, October 6th. Stifel Nicolaus decreased their target price on CatchMark Timber Trust from $13.50 to $12.50 and set a “buy” rating on the stock in a research report on Monday, October 16th. BidaskClub lowered CatchMark Timber Trust from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, ValuEngine upgraded CatchMark Timber Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $13.25.
A number of hedge funds have recently made changes to their positions in CTT. Pax World Management LLC purchased a new position in CatchMark Timber Trust in the 2nd quarter valued at $10,778,000. Bank of America Corp DE lifted its holdings in CatchMark Timber Trust by 430.8% in the 1st quarter. Bank of America Corp DE now owns 383,542 shares of the financial services provider’s stock valued at $4,418,000 after purchasing an additional 311,282 shares in the last quarter. Real Estate Management Services LLC lifted its holdings in CatchMark Timber Trust by 127.9% in the 2nd quarter. Real Estate Management Services LLC now owns 368,000 shares of the financial services provider’s stock valued at $4,184,000 after purchasing an additional 206,500 shares in the last quarter. Pictet Asset Management Ltd. lifted its holdings in CatchMark Timber Trust by 10.8% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,949,996 shares of the financial services provider’s stock valued at $24,589,000 after purchasing an additional 189,833 shares in the last quarter. Finally, Zacks Investment Management purchased a new position in CatchMark Timber Trust in the 2nd quarter valued at $2,131,000. Institutional investors own 63.13% of the company’s stock.
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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