CatchMark Timber Trust, Inc. (NYSE:CTT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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. “

Separately, TheStreet raised CatchMark Timber Trust from a “d+” rating to a “c-” rating in a research note on Friday, April 7th.

Shares of CatchMark Timber Trust (NYSE CTT) traded down 1.67% during trading on Monday, reaching $11.20. The company’s stock had a trading volume of 83,879 shares. The company’s 50 day moving average price is $11.50 and its 200 day moving average price is $11.20. The firm’s market cap is $434.67 million. CatchMark Timber Trust has a 12 month low of $10.05 and a 12 month high of $12.58.

CatchMark Timber Trust (NYSE:CTT) last announced its quarterly earnings results on Thursday, May 4th. The financial services provider reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $23.13 million for the quarter, compared to analyst estimates of $25.51 million. CatchMark Timber Trust had a negative return on equity of 3.25% and a negative net margin of 16.02%. On average, equities analysts predict that CatchMark Timber Trust will post ($0.38) earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Wednesday, May 31st were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 4.82%. The ex-dividend date was Friday, May 26th. CatchMark Timber Trust’s dividend payout ratio (DPR) is presently -168.75%.

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Several hedge funds have recently modified their holdings of CTT. Russell Investments Group Ltd. bought a new stake in shares of CatchMark Timber Trust during the fourth quarter valued at approximately $1,839,000. State Street Corp increased its stake in shares of CatchMark Timber Trust by 8.7% in the fourth quarter. State Street Corp now owns 658,637 shares of the financial services provider’s stock valued at $7,419,000 after buying an additional 52,622 shares during the period. Renaissance Technologies LLC increased its stake in shares of CatchMark Timber Trust by 13.1% in the fourth quarter. Renaissance Technologies LLC now owns 507,811 shares of the financial services provider’s stock valued at $5,718,000 after buying an additional 58,771 shares during the period. GSA Capital Partners LLP increased its stake in shares of CatchMark Timber Trust by 9.5% in the fourth quarter. GSA Capital Partners LLP now owns 51,708 shares of the financial services provider’s stock valued at $582,000 after buying an additional 4,488 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of CatchMark Timber Trust by 533.1% in the fourth quarter. Two Sigma Investments LP now owns 147,574 shares of the financial services provider’s stock valued at $1,662,000 after buying an additional 124,266 shares during the period. 69.69% of the stock is owned by hedge funds and other institutional investors.

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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