OLD National Bancorp IN cut its stake in shares of CatchMark Timber Trust, Inc. (NYSE:CTT) by 7.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,108 shares of the financial services provider’s stock after selling 2,831 shares during the period. OLD National Bancorp IN owned approximately 0.10% of CatchMark Timber Trust worth $422,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Legal & General Group Plc increased its stake in CatchMark Timber Trust by 0.7% in the first quarter. Legal & General Group Plc now owns 10,432 shares of the financial services provider’s stock valued at $120,000 after buying an additional 73 shares during the last quarter. Nine Chapters Capital Management LLC purchased a new stake in CatchMark Timber Trust during the first quarter valued at $121,000. UBS Asset Management Americas Inc. increased its stake in CatchMark Timber Trust by 6.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 13,600 shares of the financial services provider’s stock valued at $153,000 after buying an additional 882 shares during the last quarter. Stifel Financial Corp increased its stake in CatchMark Timber Trust by 4.1% in the first quarter. Stifel Financial Corp now owns 17,163 shares of the financial services provider’s stock valued at $197,000 after buying an additional 682 shares during the last quarter. Finally, NEXT Financial Group Inc increased its stake in CatchMark Timber Trust by 26.2% in the second quarter. NEXT Financial Group Inc now owns 17,237 shares of the financial services provider’s stock valued at $196,000 after buying an additional 3,581 shares during the last quarter. 69.90% of the stock is owned by institutional investors and hedge funds.
CatchMark Timber Trust, Inc. (NYSE:CTT) traded down 1.33% during midday trading on Friday, hitting $11.14. The stock had a trading volume of 75,396 shares. CatchMark Timber Trust, Inc. has a one year low of $10.05 and a one year high of $12.16. The firm’s market cap is $432.49 million. The stock has a 50-day moving average price of $11.46 and a 200 day moving average price of $11.30.
CatchMark Timber Trust (NYSE:CTT) last released its quarterly earnings results on Thursday, August 3rd. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.04. CatchMark Timber Trust had a negative return on equity of 3.26% and a negative net margin of 13.85%. The firm had revenue of $26.84 million for the quarter, compared to the consensus estimate of $22.87 million. On average, analysts predict that CatchMark Timber Trust, Inc. will post ($0.37) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 30th will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend is Monday, August 28th. CatchMark Timber Trust’s dividend payout ratio is -174.19%.
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Several research firms have recently commented on CTT. Zacks Investment Research upgraded CatchMark Timber Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. BidaskClub upgraded CatchMark Timber Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th.
CatchMark Timber Trust Company Profile
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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