CatchMark Timber Trust, Inc. (CTT) Hits New 52-Week High at $12.08
CatchMark Timber Trust, Inc. (NYSE:CTT)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $12.08 and last traded at $12.07, with a volume of 129,611 shares changing hands. The stock had previously closed at $12.03.
CTT has been the topic of several research analyst reports. Zacks Investment Research upgraded CatchMark Timber Trust from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Tuesday, August 8th. BidaskClub raised CatchMark Timber Trust from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th.
The firm’s market capitalization is $467.43 million. The company has a 50 day moving average price of $11.48 and a 200 day moving average price of $11.40.
CatchMark Timber Trust (NYSE:CTT) last posted its earnings results on Thursday, August 3rd. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $26.84 million during the quarter, compared to analysts’ expectations of $22.87 million. CatchMark Timber Trust had a negative return on equity of 3.26% and a negative net margin of 13.85%. Equities research analysts predict that CatchMark Timber Trust, Inc. will post ($0.36) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 30th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Monday, August 28th. This represents a $0.54 annualized dividend and a yield of 4.49%. CatchMark Timber Trust’s dividend payout ratio is -174.19%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc increased its stake in CatchMark Timber Trust by 0.7% during the 1st quarter. Legal & General Group Plc now owns 10,432 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 73 shares during the period. Nine Chapters Capital Management LLC acquired a new stake in shares of CatchMark Timber Trust in the 1st quarter valued at $121,000. Sei Investments Co. boosted its holdings in shares of CatchMark Timber Trust by 31.3% in the 2nd quarter. Sei Investments Co. now owns 11,008 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 2,626 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in shares of CatchMark Timber Trust in the 2nd quarter valued at $152,000. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of CatchMark Timber Trust by 6.9% in the 4th quarter. UBS Asset Management Americas Inc. now owns 13,600 shares of the financial services provider’s stock valued at $153,000 after purchasing an additional 882 shares in the last quarter. Institutional investors own 70.15% of the company’s stock.
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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.
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