California State Teachers Retirement System cut its stake in shares of CatchMark Timber Trust Inc. (NYSE:CTT) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 81,445 shares of the company’s stock after selling 2,305 shares during the period. California State Teachers Retirement System owned 0.21% of CatchMark Timber Trust worth $995,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. UBS Group AG raised its stake in CatchMark Timber Trust by 33.5% in the first quarter. UBS Group AG now owns 134,647 shares of the company’s stock valued at $1,458,000 after buying an additional 33,771 shares during the last quarter. Commonwealth Equity Services Inc increased its position in shares of CatchMark Timber Trust by 2.4% in the first quarter. Commonwealth Equity Services Inc now owns 100,915 shares of the company’s stock valued at $1,093,000 after buying an additional 2,324 shares during the period. Renaissance Technologies LLC increased its position in shares of CatchMark Timber Trust by 54.3% in the first quarter. Renaissance Technologies LLC now owns 250,100 shares of the company’s stock valued at $2,709,000 after buying an additional 88,000 shares during the period. Envestnet Asset Management Inc. purchased a new position in shares of CatchMark Timber Trust during the first quarter valued at approximately $109,000. Finally, Geode Capital Management LLC increased its position in shares of CatchMark Timber Trust by 4.6% in the first quarter. Geode Capital Management LLC now owns 244,764 shares of the company’s stock valued at $2,650,000 after buying an additional 10,792 shares during the period. 73.90% of the stock is owned by institutional investors and hedge funds.
Shares of CatchMark Timber Trust Inc. (NYSE:CTT) traded down 0.34% on Tuesday, reaching $11.59. 95,278 shares of the company traded hands. The stock’s market cap is $450.04 million. CatchMark Timber Trust Inc. has a 52-week low of $9.70 and a 52-week high of $12.58. The stock has a 50 day moving average of $11.72 and a 200 day moving average of $11.40.
CatchMark Timber Trust (NYSE:CTT) last announced its earnings results on Monday, August 8th. The company reported ($0.07) EPS for the quarter. CatchMark Timber Trust had a positive return on equity of 0.32% and a negative net margin of 10.88%. The business had revenue of $16 million for the quarter, compared to analyst estimates of $14.20 million. On average, analysts expect that CatchMark Timber Trust Inc. will post ($0.08) earnings per share 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 issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.66%. The ex-dividend date was Friday, August 26th. CatchMark Timber Trust’s payout ratio is -245.45%.
Separately, Zacks Investment Research downgraded shares of CatchMark Timber Trust from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th.
In other CatchMark Timber Trust news, CFO Brian M. Davis bought 3,500 shares of CatchMark Timber Trust stock in a transaction that occurred on Monday, August 22nd. The stock was acquired at an average price of $11.70 per share, for a total transaction of $40,950.00. Following the completion of the acquisition, the chief financial officer now owns 102,636 shares of the company’s stock, valued at approximately $1,200,841.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.
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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