Catchmark Timber Trust (CTT) Upgraded by Citigroup to Buy

Catchmark Timber Trust (NYSE:CTT) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, The Fly reports.

A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, November 7th. Raymond James set a $11.00 price target on shares of Catchmark Timber Trust and gave the company a “buy” rating in a research note on Tuesday, January 8th. ValuEngine downgraded shares of Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, November 28th. Royal Bank of Canada raised shares of Catchmark Timber Trust from a “sector perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research note on Monday, November 5th. They noted that the move was a valuation call. Finally, TheStreet downgraded shares of Catchmark Timber Trust from a “c-” rating to a “d” rating in a research note on Tuesday, November 6th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Catchmark Timber Trust has an average rating of “Buy” and a consensus price target of $11.25.

Shares of CTT stock opened at $8.12 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.48. Catchmark Timber Trust has a 12 month low of $6.71 and a 12 month high of $13.73. The stock has a market cap of $392.21 million, a price-to-earnings ratio of -23.88 and a beta of 0.96.

Catchmark Timber Trust (NYSE:CTT) last issued its earnings results on Friday, November 2nd. The financial services provider reported ($1.61) EPS for the quarter, topping analysts’ consensus estimates of ($3.59) by $1.98. Catchmark Timber Trust had a negative net margin of 90.95% and a negative return on equity of 20.93%. The company had revenue of $24.58 million for the quarter, compared to the consensus estimate of $23.04 million. On average, research analysts anticipate that Catchmark Timber Trust will post -2.46 EPS for the current fiscal year.

In other news, Director Henry G. Zigtema purchased 5,000 shares of the stock in a transaction on Friday, December 14th. The stock was bought at an average price of $7.97 per share, for a total transaction of $39,850.00. Following the acquisition, the director now directly owns 18,514 shares of the company’s stock, valued at approximately $147,556.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 28,731 shares of company stock valued at $242,036 in the last quarter. 1.20% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of CTT. Uniplan Investment Counsel Inc. acquired a new position in shares of Catchmark Timber Trust in the 3rd quarter valued at $5,909,000. Vanguard Group Inc boosted its holdings in shares of Catchmark Timber Trust by 10.9% in the 3rd quarter. Vanguard Group Inc now owns 5,032,403 shares of the financial services provider’s stock valued at $57,520,000 after buying an additional 494,691 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Catchmark Timber Trust by 10.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,032,403 shares of the financial services provider’s stock valued at $57,520,000 after buying an additional 494,691 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Catchmark Timber Trust by 12.6% in the 2nd quarter. BlackRock Inc. now owns 3,719,374 shares of the financial services provider’s stock valued at $47,349,000 after buying an additional 416,173 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Catchmark Timber Trust by 22.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,898,500 shares of the financial services provider’s stock valued at $24,168,000 after buying an additional 348,100 shares in the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.

Catchmark Timber Trust Company Profile

CatchMark Timber Trust, Inc (NYSE: CTT) is a self-administered and self-managed, publicly-traded timberland REIT that strives to deliver superior risk-adjusted returns for all stakeholders through disciplined acquisitions, sustainable harvests, and well-timed real estate sales. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in over 1.6 million acres of timberlands located in Alabama, Florida, Georgia, Louisiana, North Carolina, Oregon, South Carolina, Tennessee and Texas.

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The Fly

Analyst Recommendations for Catchmark Timber Trust (NYSE:CTT)

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