Catchmark Timber Trust Inc (CTT) Position Increased by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA boosted its stake in Catchmark Timber Trust Inc (NYSE:CTT) by 367.1% during the 1st quarter, HoldingsChannel reports. The fund owned 9,015 shares of the financial services provider’s stock after purchasing an additional 7,085 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Catchmark Timber Trust were worth $89,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in CTT. Lindbrook Capital LLC bought a new stake in Catchmark Timber Trust in the first quarter valued at $28,000. Legal & General Group Plc boosted its holdings in Catchmark Timber Trust by 17.5% in the fourth quarter. Legal & General Group Plc now owns 8,907 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,328 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Catchmark Timber Trust in the fourth quarter valued at $92,000. Metropolitan Life Insurance Co. NY boosted its holdings in Catchmark Timber Trust by 284.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 15,056 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 11,140 shares in the last quarter. Finally, Wiley BROS. Aintree Capital LLC bought a new stake in Catchmark Timber Trust in the fourth quarter valued at $121,000. Institutional investors and hedge funds own 81.02% of the company’s stock.
Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Catchmark Timber Trust from a “hold” rating to a “sell” rating in a report on Friday, February 22nd. B. Riley restated a “buy” rating on shares of Catchmark Timber Trust in a report on Tuesday, May 7th. ValuEngine upgraded shares of Catchmark Timber Trust from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Finally, Royal Bank of Canada boosted their target price on shares of Catchmark Timber Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Tuesday, February 19th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $10.75.
Shares of CTT stock opened at $9.57 on Tuesday. Catchmark Timber Trust Inc has a 12 month low of $6.71 and a 12 month high of $13.04. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.70.
Catchmark Timber Trust (NYSE:CTT) last announced its earnings results on Thursday, May 2nd. The financial services provider reported ($0.62) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.06). Catchmark Timber Trust had a negative net margin of 154.70% and a negative return on equity of 41.60%. The business had revenue of $22.57 million for the quarter, compared to the consensus estimate of $27.30 million. As a group, analysts expect that Catchmark Timber Trust Inc will post -2.06 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend is Thursday, May 30th. Catchmark Timber Trust’s dividend payout ratio (DPR) is presently -21.18%.
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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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