Zacks Investment Research Upgrades CatchMark Timber Trust Inc. (CTT) to “Hold”
CatchMark Timber Trust Inc. (NYSE:CTT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.
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. “
Shares of CatchMark Timber Trust (NYSE:CTT) traded up 0.37% during midday trading on Monday, reaching $10.97. The company had a trading volume of 94,527 shares. The firm’s market cap is $425.97 million. CatchMark Timber Trust has a 52-week low of $9.70 and a 52-week high of $12.58. The company’s 50-day moving average is $11.43 and its 200-day moving average is $11.43.
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CatchMark Timber Trust (NYSE:CTT) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.07) earnings per share (EPS) 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 the consensus estimate of $14.20 million. Equities research analysts expect that CatchMark Timber Trust will post ($0.08) EPS for the current fiscal year.
In other news, CFO Brian M. Davis bought 3,500 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was bought at an average price 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 approximately $1,200,841.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in CTT. IFP Advisors Inc increased its stake in CatchMark Timber Trust by 17.2% in the second quarter. IFP Advisors Inc now owns 8,611 shares of the company’s stock worth $105,000 after buying an additional 1,264 shares during the last quarter. BlackRock Inc. increased its stake in CatchMark Timber Trust by 170.5% in the second quarter. BlackRock Inc. now owns 8,684 shares of the company’s stock worth $106,000 after buying an additional 5,474 shares during the last quarter. Creative Planning increased its stake in CatchMark Timber Trust by 154.7% in the second quarter. Creative Planning now owns 8,884 shares of the company’s stock worth $109,000 after buying an additional 5,396 shares during the last quarter. MSI Financial Services Inc increased its stake in CatchMark Timber Trust by 94.6% in the third quarter. MSI Financial Services Inc now owns 12,116 shares of the company’s stock worth $142,000 after buying an additional 5,891 shares during the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new stake in CatchMark Timber Trust during the second quarter worth $155,000. Institutional investors 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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