Catchmark Timber Trust (CTT) Upgraded at ValuEngine

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ValuEngine upgraded shares of Catchmark Timber Trust (NYSE:CTT) from a hold rating to a buy rating in a research report released on Friday, May 10th, ValuEngine reports.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Catchmark Timber Trust from a hold rating to a buy rating and set a $9.25 price objective for the company in a research report on Tuesday, January 15th. Citigroup upgraded shares of Catchmark Timber Trust from a neutral rating to a buy rating in a research report on Monday, January 14th. B. Riley reiterated a buy rating on shares of Catchmark Timber Trust in a research report on Tuesday, May 7th. Finally, Royal Bank of Canada increased their price objective on shares of Catchmark Timber Trust from $10.00 to $11.00 and gave the stock an outperform rating in a research report on Tuesday, February 19th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $10.75.

Shares of CTT stock traded down $0.01 during trading hours on Friday, hitting $9.91. 151,300 shares of the company’s stock traded hands, compared to its average volume of 262,892. The company has a market capitalization of $491.81 million, a P/E ratio of -3.89 and a beta of 1.30. Catchmark Timber Trust has a 12 month low of $6.71 and a 12 month high of $13.21. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.40 and a current ratio of 1.40.

Catchmark Timber Trust (NYSE:CTT) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported ($0.62) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.06). Catchmark Timber Trust had a negative net margin of 154.70% and a negative return on equity of 41.60%. The business had revenue of $22.57 million for the quarter, compared to the consensus estimate of $27.30 million. As a group, sell-side analysts forecast that Catchmark Timber Trust will post -2.06 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 5.45%. The ex-dividend date is Thursday, May 30th. Catchmark Timber Trust’s dividend payout ratio (DPR) is presently -21.18%.

In related news, insider Brian M. Davis purchased 3,100 shares of Catchmark Timber Trust stock in a transaction on Wednesday, May 8th. The stock was acquired at an average cost of $10.02 per share, for a total transaction of $31,062.00. Following the completion of the acquisition, the insider now owns 105,197 shares of the company’s stock, valued at approximately $1,054,073.94. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Donald S. Moss purchased 10,000 shares of Catchmark Timber Trust stock in a transaction on Friday, March 8th. The stock was bought at an average price of $9.52 per share, with a total value of $95,200.00. Following the completion of the acquisition, the director now directly owns 57,224 shares of the company’s stock, valued at approximately $544,772.48. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc grew its holdings in Catchmark Timber Trust by 10.9% in the third quarter. Vanguard Group Inc now owns 5,032,403 shares of the financial services provider’s stock worth $57,520,000 after purchasing an additional 494,691 shares during the period. Vanguard Group Inc. grew its holdings in Catchmark Timber Trust by 10.9% in the third quarter. Vanguard Group Inc. now owns 5,032,403 shares of the financial services provider’s stock worth $57,520,000 after purchasing an additional 494,691 shares during the period. BlackRock Inc. grew its holdings in Catchmark Timber Trust by 0.7% in the fourth quarter. BlackRock Inc. now owns 3,927,777 shares of the financial services provider’s stock worth $27,887,000 after purchasing an additional 26,778 shares during the period. Deprince Race & Zollo Inc. grew its holdings in Catchmark Timber Trust by 4.8% in the fourth quarter. Deprince Race & Zollo Inc. now owns 3,553,264 shares of the financial services provider’s stock worth $25,228,000 after purchasing an additional 161,852 shares during the period. Finally, Pictet Asset Management Ltd. grew its holdings in shares of Catchmark Timber Trust by 5.3% during the first quarter. Pictet Asset Management Ltd. now owns 3,103,408 shares of the financial services provider’s stock valued at $30,475,000 after buying an additional 155,576 shares during the last quarter. Institutional investors and hedge funds own 80.79% of the company’s stock.

Catchmark Timber Trust Company Profile

CatchMark (NYSE: CTT) is a pure play timberland REIT that strives to deliver consistent and predictable per-share cash flow growth through disciplined acquisitions, active management, 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 1.6 million acres* of timberlands located in Alabama, Florida, Georgia, North Carolina, Oregon, South Carolina, Tennessee and Texas.

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