Wells Fargo & Co cut shares of Corporate Capital Trust (NYSE:CCT) from an outperform rating to a market perform rating in a research note issued to investors on Thursday, Marketbeat.com reports.
A number of other brokerages have also recently weighed in on CCT. BMO Capital Markets dropped their price objective on Corporate Capital Trust from $18.00 to $17.00 and set a market perform rating for the company in a research note on Tuesday, July 24th. Zacks Investment Research cut Corporate Capital Trust from a hold rating to a sell rating in a research note on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Corporate Capital Trust presently has an average rating of Hold and a consensus price target of $19.15.
CCT stock opened at $14.94 on Thursday. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.26. The firm has a market cap of $1.89 billion and a price-to-earnings ratio of 9.70. Corporate Capital Trust has a 52-week low of $14.43 and a 52-week high of $19.00.
Corporate Capital Trust (NYSE:CCT) last issued its quarterly earnings data on Friday, August 10th. The company reported $0.40 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.40. Corporate Capital Trust had a return on equity of 7.71% and a net margin of 40.08%. The business had revenue of $103.76 million during the quarter, compared to analysts’ expectations of $101.46 million. As a group, equities research analysts anticipate that Corporate Capital Trust will post 1.6 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 9th. Stockholders of record on Friday, September 28th will be paid a $0.402 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 10.76%. Corporate Capital Trust’s payout ratio is presently 104.55%.
In related news, Director Frederick Arnold bought 7,500 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was purchased at an average cost of $16.39 per share, with a total value of $122,925.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Ryan Wilson bought 2,500 shares of the stock in a transaction that occurred on Thursday, August 23rd. The shares were bought at an average cost of $16.30 per share, with a total value of $40,750.00. The disclosure for this purchase can be found here.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PVG Asset Management Corp acquired a new position in Corporate Capital Trust during the 2nd quarter worth $1,299,000. Centaurus Financial Inc. acquired a new position in Corporate Capital Trust during the 2nd quarter worth $260,000. Krilogy Financial LLC grew its stake in Corporate Capital Trust by 4.1% during the 2nd quarter. Krilogy Financial LLC now owns 172,139 shares of the company’s stock worth $2,689,000 after purchasing an additional 6,854 shares in the last quarter. Bridgeworth LLC acquired a new position in Corporate Capital Trust during the 2nd quarter worth $126,000. Finally, AE Wealth Management LLC grew its stake in Corporate Capital Trust by 9.2% during the 2nd quarter. AE Wealth Management LLC now owns 56,402 shares of the company’s stock worth $881,000 after purchasing an additional 4,771 shares in the last quarter. 21.38% of the stock is owned by hedge funds and other institutional investors.
Corporate Capital Trust Company Profile
Corporate Capital Trust Inc is headquartered in Orlando, Florida, United States and is engaged in the financial intermediation activities. The company offers Trust. The company was founded in 2010.
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