Catchmark Timber Trust (CTT) Downgraded to “Sell” at Zacks Investment Research
Zacks Investment Research downgraded shares of Catchmark Timber Trust (NYSE:CTT) from a hold rating to a sell rating in a report published on Thursday morning.
According to Zacks, “CatchMark Timber Trust Inc. is a real estate investment trust. The Company is involved in the ownership, management, acquisition and disposition of timberlands primarily in the United States. CatchMark Timber Trust Inc. is based in Norcross, Georgia. “
Other equities research analysts have also issued reports about the company. B. Riley dropped their price target on Catchmark Timber Trust to $12.00 and set a buy rating for the company in a research report on Wednesday, November 14th. Royal Bank of Canada upped their price target on Catchmark Timber Trust from $10.00 to $11.00 and gave the company an outperform rating in a research report on Tuesday, February 19th. ValuEngine upgraded Catchmark Timber Trust from a hold rating to a buy rating in a research report on Thursday, January 31st. Citigroup upgraded Catchmark Timber Trust from a neutral rating to a buy rating in a research report on Monday, January 14th. Finally, Raymond James set a $11.00 price target on Catchmark Timber Trust and gave the company a buy rating in a research report on Tuesday, January 8th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $11.29.
Catchmark Timber Trust (NYSE:CTT) last posted its quarterly earnings results on Friday, February 15th. The financial services provider reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.07). The company had revenue of $22.93 million during the quarter, compared to analysts’ expectations of $24.79 million. Catchmark Timber Trust had a negative net margin of 124.68% and a negative return on equity of 30.18%. Equities research analysts predict that Catchmark Timber Trust will post -2.02 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be given a $0.135 dividend. The ex-dividend date is Wednesday, February 27th. This represents a $0.54 annualized dividend and a yield of 5.54%. Catchmark Timber Trust’s payout ratio is -21.18%.
In other Catchmark Timber Trust news, Director Donald S. Moss acquired 10,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was bought at an average cost of $9.52 per share, for a total transaction of $95,200.00. Following the completion of the transaction, the director now owns 57,224 shares of the company’s stock, valued at approximately $544,772.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. MetLife Investment Advisors LLC grew its position in Catchmark Timber Trust by 47.2% in the third quarter. MetLife Investment Advisors LLC now owns 34,760 shares of the financial services provider’s stock worth $397,000 after acquiring an additional 11,140 shares during the period. Jane Street Group LLC acquired a new position in Catchmark Timber Trust during the third quarter worth $251,000. Nisa Investment Advisors LLC lifted its stake in Catchmark Timber Trust by 830.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 37,200 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 33,200 shares in the last quarter. Dalton Greiner Hartman Maher & Co. lifted its stake in Catchmark Timber Trust by 36.4% during the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 605,128 shares of the financial services provider’s stock worth $4,296,000 after purchasing an additional 161,583 shares in the last quarter. Finally, Crawford Investment Counsel Inc. lifted its stake in Catchmark Timber Trust by 7.0% during the third quarter. Crawford Investment Counsel Inc. now owns 245,555 shares of the financial services provider’s stock worth $2,807,000 after purchasing an additional 16,080 shares in the last quarter. Institutional investors own 82.29% of the company’s stock.
Catchmark Timber Trust Company Profile
CatchMark (NYSE: CTT) is a pure play timberland REIT that strives to deliver consistent and predictable per-share cash flow growth through disciplined acquisitions, active management, sustainable harvests and well-timed real estate sales. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in 1.6 million acres* of timberlands located in Alabama, Florida, Georgia, North Carolina, Oregon, South Carolina, Tennessee and Texas.
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