CatchMark Timber Trust, Inc. (NYSE:CTT) announced a quarterly dividend on Friday, November 3rd, Wall Street Journal reports. Stockholders of record on Thursday, November 30th will be paid a dividend of 0.135 per share by the financial services provider on Friday, December 15th. This represents a $0.54 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Wednesday, November 29th.

CatchMark Timber Trust has a dividend payout ratio of -150.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect CatchMark Timber Trust to earn ($0.39) per share next year, which means the company may not be able to cover its $0.54 annual dividend with an expected future payout ratio of -138.5%.

CatchMark Timber Trust (CTT) traded down $0.18 during mid-day trading on Friday, reaching $12.80. The company’s stock had a trading volume of 414,911 shares, compared to its average volume of 367,113.

CatchMark Timber Trust (NYSE:CTT) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. CatchMark Timber Trust had a negative net margin of 15.09% and a negative return on equity of 3.60%. The company had revenue of $26.84 million for the quarter, compared to analysts’ expectations of $22.87 million. equities research analysts expect that CatchMark Timber Trust will post -0.36 earnings per share for the current year.

A number of analysts have weighed in on CTT shares. Zacks Investment Research cut shares of CatchMark Timber Trust from a “buy” rating to a “hold” rating in a report on Monday, July 10th. BidaskClub raised shares of CatchMark Timber Trust from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. ValuEngine raised shares of CatchMark Timber Trust from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Finally, Stifel Nicolaus cut their price objective on shares of CatchMark Timber Trust from $13.50 to $12.50 and set a “buy” rating on the stock in a report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $12.75.

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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.

Dividend History for CatchMark Timber Trust (NYSE:CTT)

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