CatchMark Timber Trust Inc. (CTT) Upgraded by Zacks Investment Research to “Hold”
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) opened at 10.99 on Monday. The stock’s 50 day moving average price is $11.43 and its 200-day moving average price is $11.43. The company’s market capitalization is $426.74 million. CatchMark Timber Trust has a 1-year low of $9.70 and a 1-year high of $12.58.
CatchMark Timber Trust (NYSE:CTT) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.07) earnings per share for the quarter. The firm earned $16 million during the quarter, compared to analysts’ expectations 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, equities analysts predict that CatchMark Timber Trust will post ($0.08) EPS for the current year.
In other news, CFO Brian M. Davis purchased 3,500 shares of CatchMark Timber Trust stock in a transaction that occurred on Monday, August 22nd. The shares were bought 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 directly owns 102,636 shares in the company, valued at $1,200,841.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. California Public Employees Retirement System purchased a new stake in shares of CatchMark Timber Trust during the second quarter valued at $466,000. DIAM Co. Ltd. boosted its stake in CatchMark Timber Trust by 1.2% in the second quarter. DIAM Co. Ltd. now owns 1,613,930 shares of the company’s stock worth $19,212,000 after buying an additional 19,300 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in CatchMark Timber Trust during the second quarter worth approximately $5,462,000. Swiss National Bank boosted its stake in CatchMark Timber Trust by 11.6% in the second quarter. Swiss National Bank now owns 59,618 shares of the company’s stock worth $729,000 after buying an additional 6,218 shares in the last quarter. Finally, Amica Mutual Insurance Co. boosted its stake 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. 73.90% of the stock is currently owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CatchMark Timber Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CatchMark Timber Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.