Citigroup started coverage on shares of Catchmark Timber Trust (NYSE:CTT) in a research report sent to investors on Tuesday morning, Marketbeat reports. The brokerage issued a neutral rating and a $10.50 price target on the financial services provider’s stock.

Several other analysts have also issued reports on CTT. ValuEngine raised shares of Catchmark Timber Trust from a hold rating to a buy rating in a research report on Thursday, November 1st. Zacks Investment Research raised shares of Catchmark Timber Trust from a sell rating to a hold rating in a research report on Tuesday, July 24th. B. Riley decreased their price target on shares of Catchmark Timber Trust to $12.00 and set a buy rating on the stock in a research note on Wednesday, November 14th. TheStreet downgraded shares of Catchmark Timber Trust from a c- rating to a d rating in a research note on Tuesday, November 6th. Finally, 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 objective on the stock in a research note on Monday, November 5th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $12.50.

CTT opened at $8.78 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.48. The company has a market cap of $445.65 million, a P/E ratio of -25.82 and a beta of 0.89. Catchmark Timber Trust has a fifty-two week low of $8.76 and a fifty-two week 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of ($3.59) by $1.98. The firm had revenue of $24.58 million during the quarter, compared to analysts’ expectations 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 anticipate that Catchmark Timber Trust will post -2.46 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Friday, November 30th will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 6.15%. The ex-dividend date is Thursday, November 29th. Catchmark Timber Trust’s dividend payout ratio is currently -158.82%.

In related news, Director Paul S. Fisher acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, November 6th. The stock was purchased at an average price of $9.68 per share, with a total value of $48,400.00. Following the completion of the purchase, the director now owns 22,766 shares in the company, valued at approximately $220,374.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC boosted its stake in shares of Catchmark Timber Trust by 47.2% during the third quarter. MetLife Investment Advisors LLC now owns 34,760 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 11,140 shares during the period. Brookfield Asset Management Inc. boosted its stake in shares of Catchmark Timber Trust by 7.3% during the third quarter. Brookfield Asset Management Inc. now owns 558,694 shares of the financial services provider’s stock valued at $6,386,000 after purchasing an additional 38,000 shares during the period. Jane Street Group LLC purchased a new stake in shares of Catchmark Timber Trust during the third quarter valued at approximately $251,000. Matarin Capital Management LLC purchased a new stake in shares of Catchmark Timber Trust during the third quarter valued at approximately $2,670,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Catchmark Timber Trust during the third quarter valued at approximately $204,000. 79.84% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Catchmark Timber Trust (NYSE:CTT)

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