CatchMark Timber Trust Inc. (CTT) Downgraded to “Sell” at Zacks Investment Research
CatchMark Timber Trust Inc. (NYSE:CTT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
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. “
CatchMark Timber Trust (NYSE:CTT) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.07) earnings per share for the quarter. CatchMark Timber Trust had a negative net margin of 10.88% and a positive return on equity of 0.32%. The business earned $16 million during the quarter, compared to analyst estimates of $14.20 million.
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The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Tuesday, August 30th were given a $0.135 dividend. The ex-dividend date of this dividend was Friday, August 26th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.99%. CatchMark Timber Trust’s payout ratio is -245.45%.
In other news, CFO Brian M. Davis acquired 3,500 shares of the stock in a transaction on Monday, August 22nd. The stock was acquired at an average cost of $11.70 per share, for a total transaction of $40,950.00. Following the completion of the transaction, the chief financial officer now directly owns 102,636 shares in the company, valued at $1,200,841.20. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc increased its position in shares of CatchMark Timber Trust by 17.2% in the second quarter. IFP Advisors Inc now owns 8,611 shares of the company’s stock valued at $105,000 after buying an additional 1,264 shares in the last quarter. Stifel Financial Corp increased its position in shares of CatchMark Timber Trust by 23.3% in the second quarter. Stifel Financial Corp now owns 13,953 shares of the company’s stock valued at $171,000 after buying an additional 2,640 shares in the last quarter. Toronto Dominion Bank increased its position in shares of CatchMark Timber Trust by 17.0% in the second quarter. Toronto Dominion Bank now owns 48,821 shares of the company’s stock valued at $597,000 after buying an additional 7,101 shares in the last quarter. Guggenheim Capital LLC purchased a new position in shares of CatchMark Timber Trust during the second quarter valued at approximately $511,000. Finally, Parametric Portfolio Associates LLC increased its position in shares of CatchMark Timber Trust by 2.7% in the second quarter. Parametric Portfolio Associates LLC now owns 294,127 shares of the company’s stock valued at $3,594,000 after buying an additional 7,629 shares in the last quarter. Institutional investors and hedge funds own 73.90% of the company’s stock.
About CatchMark Timber Trust
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. It is focused on investing in timberlands and to manage such assets to provide current income and attractive long-term returns to its stockholders.
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