CatchMark Timber Trust Inc. (NYSE:CTT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
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. “
Shares of CatchMark Timber Trust (NYSE:CTT) traded down 1.28% during trading on Tuesday, hitting $10.83. The stock had a trading volume of 74,195 shares. The company’s market cap is $420.53 million. The stock has a 50-day moving average price of $11.54 and a 200 day moving average price of $11.43. CatchMark Timber Trust has a 12 month low of $9.70 and a 12 month high of $12.58.
CatchMark Timber Trust (NYSE:CTT) last released its earnings results on Monday, August 8th. The company reported ($0.07) earnings per share for the quarter. The company had revenue of $16 million for 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%. Equities analysts expect that CatchMark Timber Trust will post ($0.08) EPS for the current fiscal year.
The firm also recently disclosed 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 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date of this dividend was Friday, August 26th. CatchMark Timber Trust’s payout ratio is currently -245.45%.
In other CatchMark Timber Trust news, CFO Brian M. Davis acquired 3,500 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was bought at an average price of $11.70 per share, for a total transaction of $40,950.00. Following the acquisition, the chief financial officer now directly owns 102,636 shares in the company, valued at $1,200,841.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc boosted its position in CatchMark Timber Trust by 17.2% in the second quarter. IFP Advisors Inc now owns 8,611 shares of the company’s stock worth $105,000 after buying an additional 1,264 shares during the last quarter. Woodmont Investment Counsel LLC boosted its position in CatchMark Timber Trust by 2.9% in the second quarter. Woodmont Investment Counsel LLC now owns 88,144 shares of the company’s stock worth $1,077,000 after buying an additional 2,500 shares during the last quarter. Deprince Race & Zollo Inc. boosted 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 last quarter. Stifel Financial Corp boosted its position in CatchMark Timber Trust by 23.3% in the second quarter. Stifel Financial Corp now owns 13,953 shares of the company’s stock worth $171,000 after buying an additional 2,640 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in CatchMark Timber Trust by 0.3% in the second quarter. BlackRock Fund Advisors now owns 1,187,373 shares of the company’s stock worth $14,510,000 after buying an additional 3,303 shares during the last quarter. Institutional investors own 73.90% of the company’s stock.
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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