Catchmark Timber Trust (CTT) Lowered to Hold at Zacks Investment Research

Catchmark Timber Trust (NYSE:CTT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note 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. “

A number of other analysts also recently weighed in on CTT. Stifel Nicolaus decreased their price target on Catchmark Timber Trust from $13.50 to $12.50 and set a “buy” rating on the stock in a research note on Monday, October 16th. Raymond James Financial reaffirmed a “buy” rating on shares of Catchmark Timber Trust in a report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $13.75.

Catchmark Timber Trust (NYSE:CTT) traded down $0.53 during trading on Monday, hitting $12.19. The company had a trading volume of 295,515 shares, compared to its average volume of 205,038. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. Catchmark Timber Trust has a 12-month low of $10.47 and a 12-month high of $13.47. The stock has a market capitalization of $552.35, a P/E ratio of -34.83 and a beta of 0.65.

Catchmark Timber Trust (NYSE:CTT) last posted its quarterly earnings results on Thursday, November 2nd. The financial services provider reported ($0.10) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.02. Catchmark Timber Trust had a negative return on equity of 3.64% and a negative net margin of 15.09%. research analysts expect that Catchmark Timber Trust will post -0.33 EPS for the current fiscal year.

In other news, Director Paul S. Fisher acquired 2,700 shares of Catchmark Timber Trust stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average cost of $12.84 per share, with a total value of $34,668.00. Following the completion of the acquisition, the director now owns 14,918 shares in the company, valued at approximately $191,547.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of CTT. Acadian Asset Management LLC acquired a new position in Catchmark Timber Trust during the fourth quarter worth $104,000. Stelac Advisory Services LLC acquired a new position in Catchmark Timber Trust during the third quarter worth $106,000. SeaCrest Wealth Management LLC acquired a new position in Catchmark Timber Trust during the fourth quarter worth $117,000. Raymond James Trust N.A. acquired a new position in Catchmark Timber Trust during the third quarter worth $137,000. Finally, Sowell Financial Services LLC acquired a new position in Catchmark Timber Trust during the third quarter worth $149,000. 68.43% of the stock is owned by hedge funds and other institutional investors.

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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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