BidaskClub upgraded shares of CatchMark Timber Trust, Inc. (NYSE:CTT) from a sell rating to a hold rating in a research report released on Tuesday, July 25th.
Several other equities research analysts have also recently weighed in on CTT. Zacks Investment Research upgraded CatchMark Timber Trust from a hold rating to a buy rating and set a $13.00 target price for the company in a report on Wednesday, May 10th. TheStreet upgraded CatchMark Timber Trust from a d+ rating to a c- rating in a report on Friday, April 7th.
CatchMark Timber Trust (NYSE CTT) traded down 1.33% during mid-day trading on Tuesday, hitting $11.14. The stock had a trading volume of 75,396 shares. CatchMark Timber Trust has a 52 week low of $10.05 and a 52 week high of $12.16. The company’s 50 day moving average is $11.46 and its 200-day moving average is $11.30. The stock’s market capitalization is $432.49 million.
CatchMark Timber Trust (NYSE:CTT) last posted its earnings results on Thursday, August 3rd. The financial services provider reported ($0.06) EPS for the quarter, topping 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 business had revenue of $26.84 million during the quarter, compared to analysts’ expectations of $22.87 million. On average, analysts expect that CatchMark Timber Trust will post ($0.37) EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 30th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend is Monday, August 28th. CatchMark Timber Trust’s payout ratio is -174.19%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. OLD National Bancorp IN purchased a new position in shares of CatchMark Timber Trust during the first quarter valued at about $460,000. Wells Fargo & Company MN increased its stake in CatchMark Timber Trust by 42.1% in the first quarter. Wells Fargo & Company MN now owns 370,205 shares of the financial services provider’s stock valued at $4,264,000 after buying an additional 109,697 shares during the last quarter. North Star Investment Management Corp. increased its stake in CatchMark Timber Trust by 7.6% in the first quarter. North Star Investment Management Corp. now owns 70,900 shares of the financial services provider’s stock valued at $817,000 after buying an additional 5,000 shares during the last quarter. Punch & Associates Investment Management Inc. bought a new stake in CatchMark Timber Trust during the first quarter valued at $1,285,000. Finally, Real Estate Management Services LLC bought a new stake in CatchMark Timber Trust during the first quarter valued at $1,860,000. 69.90% of the stock is owned by hedge funds and other institutional investors.
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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