Swiss National Bank boosted its position in shares of CatchMark Timber Trust Inc. (NYSE:CTT) by 11.6% during the second quarter, Holdings Channel reports. The institutional investor owned 59,618 shares of the company’s stock after buying an additional 6,218 shares during the period. Swiss National Bank owned about 0.15% of CatchMark Timber Trust worth $729,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Amica Mutual Insurance Co. boosted 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 in the last quarter. Amica Retiree Medical Trust boosted its position in CatchMark Timber Trust by 20.6% in the second quarter. Amica Retiree Medical Trust now owns 27,618 shares of the company’s stock worth $337,000 after buying an additional 4,722 shares in the last quarter. Amica Pension Fund Board of Trustees boosted its position in CatchMark Timber Trust by 21.1% in the second quarter. Amica Pension Fund Board of Trustees now owns 181,184 shares of the company’s stock worth $2,214,000 after buying an additional 31,551 shares in the last quarter. Bank of New York Mellon Corp boosted its position in CatchMark Timber Trust by 9.6% in the second quarter. Bank of New York Mellon Corp now owns 219,333 shares of the company’s stock worth $2,680,000 after buying an additional 19,223 shares in the last quarter. Finally, 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 in the last quarter. 73.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of CatchMark Timber Trust Inc. (NYSE:CTT) traded up 1.20% during mid-day trading on Monday, reaching $11.00. 58,149 shares of the company’s stock traded hands. The firm’s market capitalization is $427.13 million. CatchMark Timber Trust Inc. has a 12-month low of $9.70 and a 12-month high of $12.58. The stock has a 50-day moving average price of $11.55 and a 200 day moving average price of $11.42.
CatchMark Timber Trust (NYSE:CTT) last posted its earnings results on Monday, August 8th. The company reported ($0.07) earnings per share 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 earned $16 million during the quarter, compared to the consensus estimate of $14.20 million. Analysts anticipate that CatchMark Timber Trust Inc. will post ($0.08) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Tuesday, August 30th were issued a $0.135 dividend. The ex-dividend date was Friday, August 26th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.97%. CatchMark Timber Trust’s dividend payout ratio (DPR) is presently -245.45%.
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 CatchMark Timber Trust news, CFO Brian M. Davis bought 3,500 shares of CatchMark Timber Trust stock in a transaction dated Monday, August 22nd. The shares were purchased at an average cost 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 approximately $1,200,841.20. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.
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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