Catchmark Timber Trust (CTT) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Catchmark Timber Trust (NYSE:CTT) from a buy rating to a hold rating in a report issued on Monday.

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 analysts also recently weighed in on the stock. Raymond James Financial reissued a buy rating on shares of Catchmark Timber Trust in a research note on Thursday, December 7th. Stifel Nicolaus lowered their price target on shares of Catchmark Timber Trust from $13.50 to $12.50 and set a buy rating for the company in a research note on Monday, October 16th. Finally, ValuEngine raised shares of Catchmark Timber Trust from a sell rating to a hold rating in a research note on Wednesday, September 20th. One analyst has rated the stock with a sell rating, one has issued 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 $13.75.

Catchmark Timber Trust (CTT) traded up $0.06 during trading on Monday, reaching $13.12. 210,734 shares of the company’s stock traded hands, compared to its average volume of 184,542. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $567.12, a P/E ratio of -37.49 and a beta of 0.69. Catchmark Timber Trust has a 1-year low of $10.10 and a 1-year high of $13.47.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Wednesday, November 29th. Catchmark Timber Trust’s dividend payout ratio is presently -154.29%.

In other Catchmark Timber Trust news, Director Paul S. Fisher purchased 2,700 shares of the stock in a transaction on Thursday, November 9th. The stock was acquired at an average cost of $12.84 per share, with a total value of $34,668.00. Following the completion of the purchase, the director now directly owns 14,918 shares of the company’s stock, valued at approximately $191,547.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CTT. Stelac Advisory Services LLC purchased a new position in shares of Catchmark Timber Trust in the third quarter valued at about $106,000. Sei Investments Co. increased its position in shares of Catchmark Timber Trust by 31.3% in the second quarter. Sei Investments Co. now owns 11,008 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 2,626 shares during the period. Raymond James Trust N.A. purchased a new position in shares of Catchmark Timber Trust in the third quarter valued at about $137,000. Sowell Financial Services LLC purchased a new position in shares of Catchmark Timber Trust in the third quarter valued at about $149,000. Finally, Susquehanna International Group LLP purchased a new position in shares of Catchmark Timber Trust in the second quarter valued at about $152,000. Hedge funds and other institutional investors own 63.71% of the company’s stock.

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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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