Vertex One Asset Management Inc. cut its stake in shares of Catchmark Timber Trust Inc (NYSE:CTT) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 482,690 shares of the financial services provider’s stock after selling 12,381 shares during the quarter. Catchmark Timber Trust makes up approximately 1.1% of Vertex One Asset Management Inc.’s holdings, making the stock its 29th biggest holding. Vertex One Asset Management Inc. owned about 1.11% of Catchmark Timber Trust worth $6,338,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in shares of Catchmark Timber Trust during the fourth quarter worth approximately $104,000. Stelac Advisory Services LLC acquired a new stake in Catchmark Timber Trust in the third quarter valued at approximately $106,000. SeaCrest Wealth Management LLC acquired a new stake in Catchmark Timber Trust in the fourth quarter valued at approximately $117,000. Stockman Wealth Management Inc. acquired a new stake in Catchmark Timber Trust in the fourth quarter valued at approximately $144,000. Finally, Sowell Financial Services LLC acquired a new stake in Catchmark Timber Trust in the third quarter valued at approximately $149,000. 75.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of Catchmark Timber Trust Inc (NYSE CTT) traded up $0.06 on Monday, reaching $13.61. 11,727 shares of the company’s stock traded hands, compared to its average volume of 241,717. The firm has a market capitalization of $587.77, a P/E ratio of -41.06 and a beta of 0.62. Catchmark Timber Trust Inc has a 52 week low of $10.57 and a 52 week high of $13.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.82.
Several brokerages have weighed in on CTT. Zacks Investment Research upgraded shares of Catchmark Timber Trust from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Wednesday, January 10th. Raymond James Financial restated a “buy” rating on shares of Catchmark Timber Trust in a research note on Thursday, December 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Catchmark Timber Trust has an average rating of “Hold” and a consensus target price of $13.75.
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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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