Wall Street analysts expect Catchmark Timber Trust Inc (NYSE:CTT) to report sales of $23.04 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Catchmark Timber Trust’s earnings, with the highest sales estimate coming in at $23.97 million and the lowest estimate coming in at $21.25 million. Catchmark Timber Trust posted sales of $18.61 million in the same quarter last year, which would indicate a positive year over year growth rate of 23.8%. The firm is expected to announce its next quarterly earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Catchmark Timber Trust will report full-year sales of $98.18 million for the current fiscal year, with estimates ranging from $96.77 million to $99.67 million. For the next year, analysts expect that the business will post sales of $104.56 million per share, with estimates ranging from $102.29 million to $108.90 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Catchmark Timber Trust.

Catchmark Timber Trust (NYSE:CTT) last posted its quarterly earnings data on Thursday, August 2nd. The financial services provider reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. The business had revenue of $26.25 million during the quarter, compared to the consensus estimate of $22.84 million. Catchmark Timber Trust had a negative return on equity of 3.32% and a negative net margin of 15.22%.

Several research firms have recently commented on CTT. Zacks Investment Research upgraded Catchmark Timber Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. ValuEngine upgraded Catchmark Timber Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $14.13.

Shares of CTT stock traded up $0.13 during trading hours on Thursday, hitting $12.09. The stock had a trading volume of 231,200 shares, compared to its average volume of 278,110. The company has a market capitalization of $589.39 million, a P/E ratio of -35.56 and a beta of 0.60. Catchmark Timber Trust has a twelve month low of $11.76 and a twelve month high of $13.73. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.64.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Thursday, August 30th will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Wednesday, August 29th. Catchmark Timber Trust’s dividend payout ratio (DPR) is presently -158.82%.

Institutional investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System purchased a new stake in shares of Catchmark Timber Trust during the first quarter worth approximately $348,000. Schwab Charles Investment Management Inc. raised its stake in shares of Catchmark Timber Trust by 11.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 91,276 shares of the financial services provider’s stock worth $1,139,000 after purchasing an additional 9,700 shares during the last quarter. Stifel Financial Corp raised its position in Catchmark Timber Trust by 71.8% in the first quarter. Stifel Financial Corp now owns 77,099 shares of the financial services provider’s stock worth $958,000 after acquiring an additional 32,218 shares in the last quarter. Northern Trust Corp raised its position in Catchmark Timber Trust by 2.1% in the first quarter. Northern Trust Corp now owns 513,075 shares of the financial services provider’s stock worth $6,398,000 after acquiring an additional 10,551 shares in the last quarter. Finally, Swiss National Bank raised its position in Catchmark Timber Trust by 16.1% in the first quarter. Swiss National Bank now owns 82,318 shares of the financial services provider’s stock worth $1,027,000 after acquiring an additional 11,400 shares in the last quarter. Institutional investors and hedge funds own 78.13% of the company’s stock.

Catchmark Timber Trust Company Profile

CatchMark Timber Trust, Inc (NYSE: CTT) is a self-administered and self-managed, publicly-traded timberland REIT that strives to deliver superior risk-adjusted returns for all stakeholders through disciplined acquisitions, sustainable harvests, well-timed real estate sales and investment management. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in approximately 1.6 million acres of timberlands located in Alabama, Florida, Georgia, Louisiana, North Carolina, South Carolina, Tennessee and Texas.

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Earnings History and Estimates for Catchmark Timber Trust (NYSE:CTT)

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