CatchMark Timber Trust Inc. (CTT) Downgraded to “Sell” at Zacks Investment Research
CatchMark Timber Trust Inc. (NYSE:CTT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
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. “
Shares of CatchMark Timber Trust (NYSE:CTT) traded down 1.28% during trading on Tuesday, hitting $10.83. 74,195 shares of the company were exchanged. The stock’s market capitalization is $420.53 million. CatchMark Timber Trust has a 1-year low of $9.70 and a 1-year high of $12.58. The company has a 50 day moving average of $11.54 and a 200-day moving average of $11.43.
CatchMark Timber Trust (NYSE:CTT) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm earned $16 million during the quarter, compared to the consensus estimate of $14.20 million. CatchMark Timber Trust had a positive return on equity of 0.32% and a negative net margin of 10.88%. On average, analysts forecast that CatchMark Timber Trust will post ($0.08) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Tuesday, August 30th were issued a $0.135 dividend. The ex-dividend date was Friday, August 26th. This represents a $0.54 dividend on an annualized basis and a yield of 4.99%. CatchMark Timber Trust’s dividend payout ratio (DPR) is -245.45%.
In other news, CFO Brian M. Davis acquired 3,500 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was acquired at an average price of $11.70 per share, for a total transaction of $40,950.00. Following the completion of the acquisition, the chief financial officer now owns 102,636 shares in the company, valued at $1,200,841.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of CTT. BlackRock Group LTD increased its position in CatchMark Timber Trust by 4.6% in the first quarter. BlackRock Group LTD now owns 82,226 shares of the company’s stock worth $890,000 after buying an additional 3,613 shares during the period. UBS Group AG increased its position in shares of CatchMark Timber Trust by 33.5% in the first quarter. UBS Group AG now owns 134,647 shares of the company’s stock valued at $1,458,000 after buying an additional 33,771 shares during the last quarter. Creative Planning increased its position in shares of CatchMark Timber Trust by 154.7% in the second quarter. Creative Planning now owns 8,884 shares of the company’s stock valued at $109,000 after buying an additional 5,396 shares during the last quarter. Bank of Montreal Can bought a new position in shares of CatchMark Timber Trust during the second quarter valued at $13,558,000. Finally, Deprince Race & Zollo Inc. increased its position in shares of CatchMark Timber Trust by 0.3% in the second quarter. Deprince Race & Zollo Inc. now owns 1,005,273 shares of the company’s stock valued at $12,284,000 after buying an additional 2,543 shares during the last quarter. Institutional investors and hedge funds own 73.90% 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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