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Stifel Nicolaus initiated coverage on shares of Catchmark Timber Trust (NYSE:CTT) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $15.50 price target on the stock. Stifel Nicolaus’ price objective points to a potential upside of 11.19% from the company’s current price.

The analysts wrote, “CatchMark Timber Trust is a pure-play timber REIT that owns and harvests timber in the Southeast region of the U.S., primarily Alabama and Georgia,” the report noted. “The company currently owns 247,000 acres and leases an additional 33,000 acres.”

Separately, analysts at Raymond James initiated coverage on shares of Catchmark Timber Trust in a research note to investors on Tuesday, January 14th. They set an “outperform” rating and a $15.50 price target on the stock.

Shares of Catchmark Timber Trust (NYSE:CTT) traded up 0.36% on Tuesday, hitting $13.94. The stock had a trading volume of 111,650 shares. Catchmark Timber Trust has a 52-week low of $13.22 and a 52-week high of $14.40. The stock’s 50-day moving average is $13.78 and its 200-day moving average is $13.78. The company’s market cap is $177.2 million.

The company also recently announced a special dividend, which is scheduled for Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of 0.11 per share. The ex-dividend date is Wednesday, February 26th.

CatchMark Timber Trust, Inc is a real estate company investing in timberlands. The Company primarily engages in the ownership, management, acquisition and disposition of timberlands located in the United States.

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