Wall Street brokerages expect CatchMark Timber Trust, Inc. (NYSE:CTT) to announce sales of $20.89 million for the current quarter, Zacks reports. Two analysts have issued estimates for CatchMark Timber Trust’s earnings. The highest sales estimate is $21.70 million and the lowest is $20.08 million. CatchMark Timber Trust posted sales of $18.31 million in the same quarter last year, which suggests a positive year over year growth rate of 14.1%. The company is scheduled to report its next quarterly earnings results on Thursday, November 2nd.

According to Zacks, analysts expect that CatchMark Timber Trust will report full year sales of $20.89 million for the current fiscal year, with estimates ranging from $91.74 million to $93.90 million. For the next financial year, analysts anticipate that the business will post sales of $96.40 million per share, with estimates ranging from $94.29 million to $98.50 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow CatchMark Timber Trust.

CatchMark Timber Trust (NYSE:CTT) last posted its 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. CatchMark Timber Trust had a negative return on equity of 3.26% and a negative net margin of 13.85%. The company had revenue of $26.84 million for the quarter, compared to analyst estimates of $22.87 million.

A number of research firms have recently commented on CTT. ValuEngine upgraded CatchMark Timber Trust from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research upgraded CatchMark Timber Trust from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Tuesday, August 8th. Finally, BidaskClub upgraded CatchMark Timber Trust from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th.

CatchMark Timber Trust (NYSE:CTT) remained flat at $12.32 during trading on Wednesday. 95,650 shares of the stock were exchanged. The firm has a 50-day moving average of $11.59 and a 200 day moving average of $11.47. The stock’s market capitalization is $478.30 million. CatchMark Timber Trust has a 1-year low of $10.05 and a 1-year high of $12.42.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Wednesday, August 30th were issued a $0.135 dividend. The ex-dividend date of this dividend was Monday, August 28th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.38%. CatchMark Timber Trust’s payout ratio is currently -174.19%.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its holdings in shares of CatchMark Timber Trust by 0.7% in the 1st quarter. Legal & General Group Plc now owns 10,432 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 73 shares during the last quarter. Sei Investments Co. increased its holdings in shares of CatchMark Timber Trust by 31.3% in the 2nd quarter. Sei Investments Co. now owns 11,008 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 2,626 shares during the last quarter. Susquehanna International Group LLP purchased a new position in shares of CatchMark Timber Trust in the 2nd quarter valued at about $152,000. UBS Asset Management Americas Inc. increased its holdings in shares of CatchMark Timber Trust by 6.9% in the 4th quarter. UBS Asset Management Americas Inc. now owns 13,600 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 882 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in shares of CatchMark Timber Trust by 62.2% in the 2nd quarter. Citigroup Inc. now owns 14,604 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 5,603 shares during the last quarter. Institutional investors and hedge funds own 70.15% of the company’s stock.

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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