Catchmark Timber Trust (CTT) Upgraded by Citigroup to Buy

Catchmark Timber Trust (NYSE:CTT) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, The Fly reports.

A number of other analysts have also commented on CTT. ValuEngine lowered Catchmark Timber Trust from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Royal Bank of Canada upgraded Catchmark Timber Trust from a “sector perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a report on Monday, November 5th. They noted that the move was a valuation call. Zacks Investment Research lowered Catchmark Timber Trust from a “buy” rating to a “hold” rating in a report on Wednesday, November 7th. TheStreet lowered Catchmark Timber Trust from a “c-” rating to a “d” rating in a report on Tuesday, November 6th. Finally, B. Riley dropped their target price on Catchmark Timber Trust to $12.00 and set a “buy” rating on the stock in a report on Wednesday, November 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Catchmark Timber Trust currently has a consensus rating of “Buy” and an average price target of $11.25.

Shares of Catchmark Timber Trust stock opened at $8.12 on Monday. The stock has a market capitalization of $392.21 million, a PE ratio of -23.88 and a beta of 0.96. Catchmark Timber Trust has a one year low of $6.71 and a one year high of $13.73. 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 (NYSE:CTT) last issued its quarterly earnings results on Friday, November 2nd. The financial services provider reported ($1.61) EPS for the quarter, beating analysts’ consensus estimates of ($3.59) by $1.98. The company had revenue of $24.58 million for the quarter, compared to analyst estimates of $23.04 million. Catchmark Timber Trust had a negative return on equity of 20.93% and a negative net margin of 90.95%. Analysts predict that Catchmark Timber Trust will post -2.46 earnings per share for the current fiscal year.

In related news, Director Henry G. Zigtema bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The shares were acquired at an average price of $7.97 per share, for a total transaction of $39,850.00. Following the completion of the acquisition, the director now owns 18,514 shares of the company’s stock, valued at approximately $147,556.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 28,731 shares of company stock worth $242,036 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTT. NEXT Financial Group Inc bought a new stake in Catchmark Timber Trust during the third quarter worth about $103,000. State of Alaska Department of Revenue bought a new stake in Catchmark Timber Trust during the third quarter worth about $179,000. Dynamic Technology Lab Private Ltd bought a new stake in Catchmark Timber Trust during the third quarter worth about $204,000. Fort Washington Investment Advisors Inc. OH raised its holdings in Catchmark Timber Trust by 51.9% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 19,600 shares of the financial services provider’s stock worth $224,000 after acquiring an additional 6,700 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Catchmark Timber Trust in the third quarter valued at approximately $251,000. Institutional investors and hedge funds own 80.57% of the company’s stock.

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, and well-timed real estate sales. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in over 1.6 million acres of timberlands located in Alabama, Florida, Georgia, Louisiana, North Carolina, Oregon, South Carolina, Tennessee and Texas.

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