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 Tuesday. The brokerage currently has a $13.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.30% from the stock’s current price.

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, BidaskClub upgraded CatchMark Timber Trust from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th.

Shares of CatchMark Timber Trust (NYSE CTT) remained flat at $11.68 during midday trading on Tuesday. The stock had a trading volume of 137,802 shares. The stock has a 50-day moving average price of $11.48 and a 200 day moving average price of $11.26. CatchMark Timber Trust has a one year low of $10.05 and a one year high of $12.58. The stock’s market capitalization is $453.30 million.

CatchMark Timber Trust (NYSE:CTT) last posted its quarterly earnings results on Thursday, August 3rd. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. The business had revenue of $26.84 million for the quarter, compared to analysts’ expectations of $22.87 million. CatchMark Timber Trust had a negative return on equity of 3.26% and a negative net margin of 13.85%. Equities analysts predict that CatchMark Timber Trust will post ($0.36) EPS for the current fiscal year.

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Institutional investors have recently bought and sold shares of the stock. Davis Selected Advisers boosted its position in CatchMark Timber Trust by 1.3% in the fourth quarter. Davis Selected Advisers now owns 2,335,874 shares of the financial services provider’s stock valued at $26,302,000 after buying an additional 29,274 shares in the last quarter. Pictet Asset Management Ltd. boosted its position in CatchMark Timber Trust by 0.3% in the first quarter. Pictet Asset Management Ltd. now owns 1,799,638 shares of the financial services provider’s stock valued at $20,732,000 after buying an additional 6,169 shares in the last quarter. Vanguard Group Inc. boosted its position in CatchMark Timber Trust by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,725,739 shares of the financial services provider’s stock valued at $19,881,000 after buying an additional 28,538 shares in the last quarter. DIAM Co. Ltd. boosted its position in CatchMark Timber Trust by 1.2% in the second quarter. DIAM Co. Ltd. now owns 1,613,930 shares of the financial services provider’s stock valued at $19,212,000 after buying an additional 19,300 shares in the last quarter. Finally, Huber Capital Management LLC boosted its position in CatchMark Timber Trust by 2.5% in the third quarter. Huber Capital Management LLC now owns 1,578,517 shares of the financial services provider’s stock valued at $18,453,000 after buying an additional 38,972 shares in the last quarter. Institutional investors and hedge funds own 69.90% 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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