Catchmark Timber Trust Inc (CTT) Rating Increased to Buy at Zacks Investment Research
Catchmark Timber Trust Inc (NYSE:CTT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $13.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.02% from the stock’s previous close.
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. “
Separately, TheStreet upgraded Catchmark Timber Trust from a “d+” rating to a “c-” rating in a research report on Friday, April 7th.
Catchmark Timber Trust (NYSE:CTT) traded down 0.34% on Wednesday, hitting $11.71. The stock had a trading volume of 89,016 shares. The company’s 50 day moving average price is $11.54 and its 200-day moving average price is $11.03. Catchmark Timber Trust has a 12-month low of $10.05 and a 12-month high of $12.58. The company’s market cap is $454.47 million.
Catchmark Timber Trust (NYSE:CTT) last posted its earnings results on Thursday, May 4th. The financial services provider reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. Catchmark Timber Trust had a negative return on equity of 2.37% and a negative net margin of 12.00%. The firm had revenue of $23.13 million for the quarter, compared to analysts’ expectations of $25.51 million. Equities research analysts anticipate that Catchmark Timber Trust will post ($0.42) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Wednesday, May 31st will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 4.61%. The ex-dividend date is Friday, May 26th. Catchmark Timber Trust’s dividend payout ratio (DPR) is presently -225.00%.
In related news, Director Paul S. Fisher acquired 5,000 shares of Catchmark Timber Trust stock in a transaction dated Monday, February 27th. The stock was acquired at an average cost of $10.86 per share, with a total value of $54,300.00. Following the purchase, the director now directly owns 9,197 shares in the company, valued at approximately $99,879.42. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have bought 8,500 shares of company stock worth $91,805. 1.00% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Nine Chapters Capital Management LLC acquired a new stake in shares of Catchmark Timber Trust during the first quarter valued at approximately $121,000. UBS Asset Management Americas Inc. boosted its stake in shares of Catchmark Timber Trust by 6.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 13,600 shares of the financial services provider’s stock valued at $153,000 after buying an additional 882 shares during the period. Stifel Financial Corp boosted its stake in shares of Catchmark Timber Trust by 4.1% in the first quarter. Stifel Financial Corp now owns 17,163 shares of the financial services provider’s stock valued at $197,000 after buying an additional 682 shares during the period. Tudor Investment Corp Et Al boosted its stake in shares of Catchmark Timber Trust by 16.0% in the fourth quarter. Tudor Investment Corp Et Al now owns 17,656 shares of the financial services provider’s stock valued at $199,000 after buying an additional 2,440 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Catchmark Timber Trust during the third quarter valued at approximately $231,000. 72.35% of the stock is owned by institutional investors and hedge funds.
Catchmark Timber Trust Company Profile
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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