CatchMark Timber Trust Inc. (CTT) Sees Strong Trading Volume
CatchMark Timber Trust Inc. (NYSE:CTT) saw unusually-high trading volume on Thursday . Approximately 109,627 shares were traded during 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.
CTT has been the subject of a number of research reports. Zacks Investment Research lowered shares of CatchMark Timber Trust from a “hold” rating to a “sell” rating in a research note on Monday, May 9th. Stifel Nicolaus cut their price objective on shares of CatchMark Timber Trust from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, May 6th.
The firm has a 50-day moving average of $11.96 and a 200 day moving average of $11.24. The stock’s market capitalization is $445.77 million.
CatchMark Timber Trust (NYSE:CTT) last announced its earnings results on Monday, August 8th. The company reported ($0.07) earnings per share for the quarter. The business had revenue of $16 million for the quarter, compared to the consensus estimate of $14.20 million. On average, analysts expect that CatchMark Timber Trust Inc. will post ($0.08) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Tuesday, August 30th will be paid a $0.135 dividend. The ex-dividend date is Friday, August 26th. This represents a $0.54 annualized dividend and a yield of 4.70%.
In other news, CFO Brian M. Davis bought 3,500 shares of the stock in a transaction on Monday, August 22nd. The stock was bought at an average cost of $11.70 per share, for a total transaction of $40,950.00. Following the completion of the purchase, the chief financial officer now directly owns 102,636 shares in the company, valued at $1,200,841.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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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