Bank of Montreal Can Acquires New Stake in CatchMark Timber Trust Inc. (CTT)
Bank of Montreal Can acquired a new position in CatchMark Timber Trust Inc. (NYSE:CTT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,109,550 shares of the company’s stock, valued at approximately $13,558,000.
Several other hedge funds have also recently bought and sold shares of the company. State Street Corp increased its stake in CatchMark Timber Trust by 4.8% in the first quarter. State Street Corp now owns 611,206 shares of the company’s stock worth $6,619,000 after buying an additional 27,801 shares in the last quarter. Renaissance Technologies LLC increased its stake in CatchMark Timber Trust by 54.3% in the first quarter. Renaissance Technologies LLC now owns 250,100 shares of the company’s stock worth $2,709,000 after buying an additional 88,000 shares in the last quarter. Geode Capital Management LLC increased its stake in CatchMark Timber Trust by 4.6% in the first quarter. Geode Capital Management LLC now owns 244,764 shares of the company’s stock worth $2,650,000 after buying an additional 10,792 shares in the last quarter. UBS Group AG increased 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 worth $1,458,000 after buying an additional 33,771 shares in the last quarter. Finally, Commonwealth Equity Services Inc increased its stake in CatchMark Timber Trust by 2.4% in the first quarter. Commonwealth Equity Services Inc now owns 100,915 shares of the company’s stock worth $1,093,000 after buying an additional 2,324 shares in the last quarter. 73.90% of the stock is currently owned by institutional investors.
Shares of CatchMark Timber Trust Inc. (NYSE:CTT) traded up 0.43% during trading on Friday, hitting $11.69. The company had a trading volume of 270,965 shares. The firm has a 50 day moving average of $11.66 and a 200 day moving average of $11.41. The stock’s market cap is $453.92 million. CatchMark Timber Trust Inc. has a 12-month low of $9.70 and a 12-month high of $12.58.
CatchMark Timber Trust (NYSE:CTT) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.07) EPS for the quarter. The business had revenue of $16 million for the quarter, compared to the consensus estimate of $14.20 million. CatchMark Timber Trust had a positive return on equity of 0.32% and a negative net margin of 10.88%. On average, analysts forecast that CatchMark Timber Trust Inc. will post ($0.08) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Tuesday, August 30th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, August 26th. This represents a $0.54 dividend on an annualized basis and a yield of 4.62%. CatchMark Timber Trust’s dividend payout ratio (DPR) is presently -245.45%.
Separately, Zacks Investment Research downgraded 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 purchased 3,500 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were acquired at an average cost of $11.70 per share, for a total transaction of $40,950.00. Following the transaction, the chief financial officer now directly owns 102,636 shares in the company, valued at $1,200,841.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% 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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