CatchMark Timber Trust Inc. (CTT) Sees Unusually-High Trading Volume
Shares of CatchMark Timber Trust Inc. (NYSE:CTT) saw unusually-strong trading volume on Thursday . Approximately 109,627 shares changed hands during mid-day trading, an increase of 19% from the previous session’s volume of 92,015 shares.The stock last traded at $11.78 and had previously closed at $11.74.
A number of equities research analysts have commented on CTT shares. Stifel Nicolaus reduced their price target on CatchMark Timber Trust from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, May 6th. Zacks Investment Research downgraded CatchMark Timber Trust from a “hold” rating to a “sell” rating in a research note on Monday, May 9th.
The firm’s market cap is $458.58 million. The stock’s 50-day moving average price is $11.96 and its 200 day moving average price is $11.22.
CatchMark Timber Trust (NYSE:CTT) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm earned $16 million during the quarter, compared to analysts’ expectations of $14.20 million. On average, analysts predict that CatchMark Timber Trust Inc. will post ($0.08) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Tuesday, August 30th will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, August 26th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.57%.
In related news, CFO Brian M. Davis acquired 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, with a total value of $40,950.00. Following the completion of the purchase, the chief financial officer now owns 102,636 shares of the company’s stock, valued at $1,200,841.20. The transaction was disclosed in a document filed with the SEC, which is available through this link.
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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