Shares of CatchMark Timber Trust Inc. (NYSE:CTT) have been assigned an average broker rating score of 1.33 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and two have assigned a strong buy rating to the company.
Brokerages have set a 12 month consensus price objective of $12.67 for the company and are expecting that the company will post ($0.11) EPS for the current quarter, according to Zacks. Zacks has also given CatchMark Timber Trust an industry rank of 79 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research cut CatchMark Timber Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th.
In other news, CFO Brian M. Davis purchased 3,500 shares of CatchMark Timber Trust stock in a transaction on Monday, August 22nd. The stock was purchased at an average price of $11.70 per share, with a total value of $40,950.00. Following the transaction, the chief financial officer now directly owns 102,636 shares in the company, valued at approximately $1,200,841.20. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CTT. Bank of Montreal Can purchased a new position in CatchMark Timber Trust during the second quarter worth $13,558,000. Deprince Race & Zollo Inc. increased its position in CatchMark Timber Trust by 0.3% in the second quarter. Deprince Race & Zollo Inc. now owns 1,005,273 shares of the company’s stock worth $12,284,000 after buying an additional 2,543 shares during the period. UBS Group AG increased its position in CatchMark Timber Trust by 33.5% in the first quarter. UBS Group AG now owns 134,647 shares of the company’s stock worth $1,458,000 after buying an additional 33,771 shares during the period. Amica Mutual Insurance Co. increased its position in CatchMark Timber Trust by 18.2% in the second quarter. Amica Mutual Insurance Co. now owns 264,471 shares of the company’s stock worth $3,232,000 after buying an additional 40,744 shares during the period. Finally, Commonwealth Equity Services Inc increased its position in CatchMark Timber Trust by 2.4% in the first quarter. Commonwealth Equity Services Inc now owns 100,915 shares of the company’s stock worth $1,093,000 after buying an additional 2,324 shares during the period. 73.90% of the stock is owned by hedge funds and other institutional investors.
CatchMark Timber Trust (NYSE:CTT) opened at 10.87 on Wednesday. The stock has a 50 day moving average of $11.55 and a 200-day moving average of $11.42. CatchMark Timber Trust has a 52-week low of $9.70 and a 52-week high of $12.58. The company’s market cap is $422.08 million.
CatchMark Timber Trust (NYSE:CTT) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.07) EPS for the quarter. The company earned $16 million during the quarter, compared to the consensus estimate of $14.20 million. CatchMark Timber Trust had a negative net margin of 10.88% and a positive return on equity of 0.32%. On average, analysts forecast that CatchMark Timber Trust will post ($0.08) EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Tuesday, August 30th were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, August 26th. This represents a $0.54 dividend on an annualized basis and a yield of 4.97%. CatchMark Timber Trust’s payout ratio is -245.45%.
About CatchMark Timber Trust
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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