CatchMark Timber Trust Inc. (CTT) Upgraded to “Hold” at Zacks Investment Research
CatchMark Timber Trust Inc. (NYSE:CTT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report 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. “
Shares of CatchMark Timber Trust (NYSE:CTT) traded up 0.37% during trading on Monday, hitting $10.97. 94,527 shares of the company traded hands. The company’s market capitalization is $425.97 million. CatchMark Timber Trust has a 52 week low of $9.70 and a 52 week high of $12.58. The company has a 50 day moving average price of $11.43 and a 200 day moving average price of $11.43.
CatchMark Timber Trust (NYSE:CTT) last released its earnings results 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 expect that CatchMark Timber Trust will post ($0.08) earnings per share for the current year.
In other news, CFO Brian M. Davis bought 3,500 shares of the stock in a transaction dated Monday, August 22nd. The stock was purchased at an average price of $11.70 per share, for a total transaction of $40,950.00. Following the acquisition, the chief financial officer now owns 102,636 shares of the company’s stock, valued at $1,200,841.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in CTT. IFP Advisors Inc raised its stake in CatchMark Timber Trust by 17.2% in the second quarter. IFP Advisors Inc now owns 8,611 shares of the company’s stock valued at $105,000 after buying an additional 1,264 shares during the period. BlackRock Inc. raised its stake in CatchMark Timber Trust by 170.5% in the second quarter. BlackRock Inc. now owns 8,684 shares of the company’s stock valued at $106,000 after buying an additional 5,474 shares during the period. Creative Planning raised its stake in 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 period. MSI Financial Services Inc raised its stake in CatchMark Timber Trust by 94.6% in the third quarter. MSI Financial Services Inc now owns 12,116 shares of the company’s stock valued at $142,000 after buying an additional 5,891 shares during the period. Finally, UBS Asset Management Americas Inc. purchased a new stake in CatchMark Timber Trust during the second quarter valued at about $155,000. Hedge funds and other institutional investors own 73.90% of the company’s stock.
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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