Zacks Investment Research downgraded shares of Catchmark Timber Trust (NYSE:CTT) from a buy rating to a hold rating in a report issued 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. “
CTT has been the subject of several other research reports. Royal Bank of Canada raised Catchmark Timber Trust from a sector perform rating to an outperform rating and set a $12.00 price target for the company in a research note on Monday. 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 note on Thursday, November 1st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $13.63.
Catchmark Timber Trust (NYSE:CTT) last released its quarterly earnings results on Friday, November 2nd. The financial services provider reported ($1.61) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.59) by $1.98. The business had revenue of $24.58 million during 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 anticipate that Catchmark Timber Trust will post -3.7 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 5.71%. The ex-dividend date is Thursday, November 29th. Catchmark Timber Trust’s dividend payout ratio (DPR) is presently -158.82%.
Several large investors have recently added to or reduced their stakes in CTT. Northern Trust Corp increased its position in Catchmark Timber Trust by 2.1% during the 1st quarter. Northern Trust Corp now owns 513,075 shares of the financial services provider’s stock worth $6,398,000 after purchasing an additional 10,551 shares in the last quarter. BlackRock Inc. increased its position in Catchmark Timber Trust by 1.6% during the 1st quarter. BlackRock Inc. now owns 3,303,201 shares of the financial services provider’s stock worth $41,191,000 after purchasing an additional 52,998 shares in the last quarter. JPMorgan Chase & Co. increased its position in Catchmark Timber Trust by 255.3% during the 1st quarter. JPMorgan Chase & Co. now owns 37,502 shares of the financial services provider’s stock worth $468,000 after purchasing an additional 26,948 shares in the last quarter. Jane Street Group LLC purchased a new stake in Catchmark Timber Trust during the 1st quarter worth about $139,000. Finally, LPL Financial LLC increased its position in Catchmark Timber Trust by 53.2% during the 1st quarter. LPL Financial LLC now owns 22,616 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 7,850 shares in the last quarter. 77.93% of the stock is owned by institutional investors and hedge funds.
Catchmark Timber Trust Company Profile
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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