Wells Fargo & Company MN lessened its holdings in shares of Catchmark Timber Trust Inc (NYSE:CTT) by 3.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 588,612 shares of the financial services provider’s stock after selling 23,816 shares during the period. Wells Fargo & Company MN’s holdings in Catchmark Timber Trust were worth $6,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of CTT. Westwood Holdings Group Inc. purchased a new position in Catchmark Timber Trust in the first quarter valued at $27,000. BNP Paribas Arbitrage SA increased its stake in shares of Catchmark Timber Trust by 367.1% during the first quarter. BNP Paribas Arbitrage SA now owns 9,015 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 7,085 shares in the last quarter. Corient Capital Partners LLC purchased a new stake in shares of Catchmark Timber Trust during the first quarter worth about $102,000. SG Americas Securities LLC purchased a new stake in shares of Catchmark Timber Trust during the first quarter worth about $104,000. Finally, NEXT Financial Group Inc increased its stake in shares of Catchmark Timber Trust by 21.8% during the second quarter. NEXT Financial Group Inc now owns 11,023 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 1,976 shares in the last quarter. 81.82% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently commented on CTT shares. Zacks Investment Research cut shares of Catchmark Timber Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. ValuEngine upgraded shares of Catchmark Timber Trust from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $10.75.

CTT traded up $0.02 on Monday, reaching $10.48. 7,274 shares of the company’s stock were exchanged, compared to its average volume of 172,926. The stock has a market cap of $510.16 million, a PE ratio of -4.08 and a beta of 1.25. Catchmark Timber Trust Inc has a twelve month low of $6.71 and a twelve month high of $12.08. The stock’s fifty day moving average price is $9.95 and its 200-day moving average price is $9.94. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.30 and a quick ratio of 1.30.

Catchmark Timber Trust (NYSE:CTT) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.04). The business had revenue of $28.66 million for the quarter, compared to analyst estimates of $32.30 million. Catchmark Timber Trust had a negative return on equity of 58.86% and a negative net margin of 180.35%. As a group, research analysts predict that Catchmark Timber Trust Inc will post -2.05 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.54 dividend on an annualized basis and a yield of 5.15%. Catchmark Timber Trust’s payout ratio is presently -21.18%.

Catchmark Timber Trust Company Profile

CatchMark (NYSE: CTT) is a pure play timberland REIT that strives to deliver consistent and predictable per-share cash flow growth through disciplined acquisitions, active management, 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 1.6 million acres* of timberlands located in Alabama, Florida, Georgia, North Carolina, Oregon, South Carolina, Tennessee and Texas.

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Institutional Ownership by Quarter for Catchmark Timber Trust (NYSE:CTT)

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