CatchMark Timber Trust Inc. (CTT) Sees Unusually-High Trading Volume
CatchMark Timber Trust Inc. (NYSE:CTT) shares saw strong trading volume on Wednesday . 225,892 shares changed hands during trading, an increase of 164% from the previous session’s volume of 85,523 shares.The stock last traded at $11.70 and had previously closed at $11.77.
Several research analysts have recently issued reports on the company. Stifel Nicolaus lowered their price objective on 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. Zacks Investment Research cut CatchMark Timber Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th.
The stock’s 50 day moving average price is $11.95 and its 200 day moving average price is $11.28. The stock’s market capitalization is $454.31 million.
CatchMark Timber Trust (NYSE:CTT) last issued its earnings results on Monday, August 8th. The company reported ($0.07) earnings per share for the quarter. The company earned $16 million during the quarter, compared to analysts’ expectations of $14.20 million. Equities analysts anticipate that CatchMark Timber Trust Inc. will post ($0.08) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Tuesday, August 30th will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date is Friday, August 26th.
In other news, CFO Brian M. Davis bought 3,500 shares of CatchMark Timber Trust stock in a transaction that occurred on Monday, August 22nd. The shares were purchased at an average price of $11.70 per share, for a total transaction of $40,950.00. Following the completion of the acquisition, the chief financial officer now owns 102,636 shares of the company’s stock, valued at $1,200,841.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
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.