Granite Investment Partners LLC boosted its position in shares of Catchmark Timber Trust Inc (NYSE:CTT) by 44.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,094 shares of the financial services provider’s stock after acquiring an additional 36,815 shares during the period. Granite Investment Partners LLC’s holdings in Catchmark Timber Trust were worth $1,373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTT. BlackRock Inc. grew its holdings in Catchmark Timber Trust by 12.6% during the 2nd quarter. BlackRock Inc. now owns 3,719,374 shares of the financial services provider’s stock worth $47,349,000 after acquiring an additional 416,173 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Catchmark Timber Trust by 22.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,898,500 shares of the financial services provider’s stock worth $24,168,000 after acquiring an additional 348,100 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Catchmark Timber Trust by 65.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 676,899 shares of the financial services provider’s stock worth $8,616,000 after acquiring an additional 267,419 shares in the last quarter. Boston Partners acquired a new position in Catchmark Timber Trust during the 2nd quarter worth approximately $2,884,000. Finally, Real Estate Management Services LLC grew its holdings in Catchmark Timber Trust by 51.3% during the 3rd quarter. Real Estate Management Services LLC now owns 475,219 shares of the financial services provider’s stock worth $5,432,000 after acquiring an additional 161,119 shares in the last quarter. Institutional investors own 79.84% of the company’s stock.

In related news, Director Paul S. Fisher acquired 5,000 shares of Catchmark Timber Trust stock in a transaction dated Tuesday, November 6th. The stock was acquired at an average price of $9.68 per share, for a total transaction of $48,400.00. Following the transaction, the director now owns 22,766 shares of the company’s stock, valued at $220,374.88. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

Several research firms have commented on CTT. Royal Bank of Canada upgraded shares of Catchmark Timber Trust from a “sector perform” rating to an “outperform” rating and set a $12.00 price target for the company in a report on Monday, November 5th. They noted that the move was a valuation call. TheStreet cut shares of Catchmark Timber Trust from a “c-” rating to a “d” rating in a report on Tuesday, November 6th. B. Riley lowered their price target on shares of Catchmark Timber Trust to $12.00 and set a “buy” rating for the company in a report on Wednesday, November 14th. ValuEngine downgraded shares of Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Finally, Zacks Investment Research downgraded shares of Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $13.00.

Shares of NYSE:CTT opened at $9.09 on Tuesday. The company has a market cap of $448.10 million, a PE ratio of -26.74 and a beta of 0.89. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.48. Catchmark Timber Trust Inc has a twelve month low of $8.80 and a twelve month high of $13.73.

Catchmark Timber Trust (NYSE:CTT) last issued its quarterly earnings data on Friday, November 2nd. The financial services provider reported ($1.61) earnings per share for the quarter, topping the consensus estimate of ($3.59) by $1.98. The business had revenue of $24.58 million during the quarter, compared to the consensus estimate of $23.04 million. Catchmark Timber Trust had a negative net margin of 90.95% and a negative return on equity of 20.93%. On average, equities research analysts forecast that Catchmark Timber Trust Inc will post -2.46 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Friday, November 30th will be given a dividend of $0.135 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.54 annualized dividend and a dividend yield of 5.94%. Catchmark Timber Trust’s dividend payout ratio is presently -158.82%.

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Catchmark Timber Trust 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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Institutional Ownership by Quarter for Catchmark Timber Trust (NYSE:CTT)

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