Zacks Investment Research upgraded shares of Catchmark Timber Trust (NYSE:CTT) from a hold rating to a buy rating in a report published on Monday, Zacks.com reports. They currently have $13.00 price target on the financial services provider’s stock.
According to Zacks, “CatchMark Timber Trust Inc. is a real estate investment trust. The Company is involved in the ownership, management, acquisition and disposition of timberlands primarily in the United States. CatchMark Timber Trust Inc. is based in Norcross, Georgia. “
Other analysts have also recently issued research reports about the stock. ValuEngine cut shares of Catchmark Timber Trust from a buy rating to a hold rating in a research note on Thursday, November 14th. Royal Bank of Canada lowered shares of Catchmark Timber Trust from an outperform rating to a sector perform rating and set a $12.00 price objective on the stock. in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Catchmark Timber Trust presently has a consensus rating of Buy and an average target price of $12.00.
CTT stock opened at $11.70 on Monday. Catchmark Timber Trust has a twelve month low of $6.71 and a twelve month high of $12.54. The business has a 50 day simple moving average of $11.52 and a 200-day simple moving average of $10.48. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.90 and a quick ratio of 0.90.
Catchmark Timber Trust (NYSE:CTT) last announced its earnings results on Friday, November 1st. The financial services provider reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.13. The business had revenue of $26.38 million for the quarter, compared to analyst estimates of $29.23 million. Catchmark Timber Trust had a negative net margin of 119.09% and a negative return on equity of 48.74%. On average, equities analysts anticipate that Catchmark Timber Trust will post -2.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.62%. The ex-dividend date is Monday, November 25th. Catchmark Timber Trust’s dividend payout ratio is presently -21.18%.
Several hedge funds have recently made changes to their positions in CTT. NEXT Financial Group Inc lifted its holdings in shares of Catchmark Timber Trust by 21.8% during the second quarter. NEXT Financial Group Inc now owns 11,023 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 1,976 shares during the period. Nisa Investment Advisors LLC increased its stake in Catchmark Timber Trust by 4.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 51,133 shares of the financial services provider’s stock valued at $546,000 after buying an additional 2,066 shares during the period. Swiss National Bank raised its position in Catchmark Timber Trust by 2.4% during the 2nd quarter. Swiss National Bank now owns 91,418 shares of the financial services provider’s stock worth $955,000 after buying an additional 2,100 shares during the last quarter. MML Investors Services LLC raised its position in Catchmark Timber Trust by 22.7% during the 2nd quarter. MML Investors Services LLC now owns 15,014 shares of the financial services provider’s stock worth $157,000 after buying an additional 2,777 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in shares of Catchmark Timber Trust by 8.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 55,938 shares of the financial services provider’s stock worth $585,000 after acquiring an additional 4,232 shares during the period. Institutional investors own 81.88% 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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