Analysts expect that Catchmark Timber Trust Inc (NYSE:CTT) will report $23.04 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Catchmark Timber Trust’s earnings. The lowest sales estimate is $21.25 million and the highest is $23.97 million. Catchmark Timber Trust reported sales of $18.61 million in the same quarter last year, which indicates a positive year over year growth rate of 23.8%. The business is scheduled to announce its next earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Catchmark Timber Trust will report full-year sales of $98.18 million for the current fiscal year, with estimates ranging from $96.77 million to $99.67 million. For the next financial year, analysts forecast that the firm will post sales of $104.56 million, with estimates ranging from $102.29 million to $108.90 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Catchmark Timber Trust.
Catchmark Timber Trust (NYSE:CTT) last announced its quarterly earnings results on Thursday, August 2nd. The financial services provider reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. Catchmark Timber Trust had a negative return on equity of 3.32% and a negative net margin of 15.22%. The business had revenue of $26.25 million during the quarter, compared to analysts’ expectations of $22.84 million.
Shares of CTT stock traded down $0.29 during mid-day trading on Wednesday, reaching $9.74. The stock had a trading volume of 564,431 shares, compared to its average volume of 281,185. Catchmark Timber Trust has a 12-month low of $9.74 and a 12-month high of $13.73. The stock has a market cap of $561.40 million, a P/E ratio of -28.65 and a beta of 0.61. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.64.
The company also recently declared a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Thursday, August 30th were given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date was Wednesday, August 29th. Catchmark Timber Trust’s dividend payout ratio is currently -158.82%.
Several hedge funds have recently made changes to their positions in CTT. Nuveen Asset Management LLC increased its position in Catchmark Timber Trust by 210.5% during the 1st quarter. Nuveen Asset Management LLC now owns 937,284 shares of the financial services provider’s stock worth $11,688,000 after purchasing an additional 635,413 shares in the last quarter. Millennium Management LLC increased its position in Catchmark Timber Trust by 45.2% during the 1st quarter. Millennium Management LLC now owns 1,555,844 shares of the financial services provider’s stock worth $19,401,000 after purchasing an additional 484,195 shares in the last quarter. BlackRock Inc. increased its position in Catchmark Timber Trust by 12.6% during the 2nd quarter. BlackRock Inc. now owns 3,719,374 shares of the financial services provider’s stock worth $47,349,000 after purchasing an additional 416,173 shares in the last quarter. Brookfield Asset Management Inc. increased its position in Catchmark Timber Trust by 165.1% during the 1st quarter. Brookfield Asset Management Inc. now owns 626,887 shares of the financial services provider’s stock worth $7,817,000 after purchasing an additional 390,387 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Catchmark Timber Trust by 22.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,898,500 shares of the financial services provider’s stock worth $24,168,000 after purchasing an additional 348,100 shares in the last quarter. Institutional investors and hedge funds own 78.12% of the company’s stock.
About Catchmark Timber Trust
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, well-timed real estate sales and investment management. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in approximately 1.6 million acres of timberlands located in Alabama, Florida, Georgia, Louisiana, North Carolina, South Carolina, Tennessee and Texas.
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