Catchmark Timber Trust (CTT) PT Set at $11.00 by Raymond James

Raymond James set a $11.00 price target on Catchmark Timber Trust (NYSE:CTT) in a research note published on Tuesday morning. The brokerage currently has a buy rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the company. TheStreet lowered Catchmark Timber Trust from a c- rating to a d rating in a report on Tuesday, November 6th. B. Riley lowered their price target on Catchmark Timber Trust to $12.00 and set a buy rating on the stock in a report on Wednesday, November 14th. Zacks Investment Research lowered Catchmark Timber Trust from a buy rating to a hold rating in a report on Thursday, January 3rd. ValuEngine lowered Catchmark Timber Trust from a buy rating to a hold rating in a report on Monday, October 22nd. Finally, Citigroup assumed coverage on Catchmark Timber Trust in a report on Tuesday, November 20th. They set a neutral rating and a $10.50 price target on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $11.25.

Shares of NYSE CTT traded up $0.09 during midday trading on Tuesday, reaching $8.12. 521,833 shares of the company were exchanged, compared to its average volume of 450,767. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.48. Catchmark Timber Trust has a 1 year low of $6.71 and a 1 year high of $13.73. The firm has a market cap of $392.21 million, a P/E ratio of -23.88 and a beta of 0.96.

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

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 13th. Shareholders of record on Friday, November 30th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date was Thursday, November 29th. Catchmark Timber Trust’s dividend payout ratio is presently -158.82%.

In other Catchmark Timber Trust news, Director Donald S. Moss acquired 5,000 shares of the stock in a transaction on Wednesday, November 28th. The shares were bought at an average price of $8.37 per share, with a total value of $41,850.00. Following the acquisition, the director now owns 42,224 shares of the company’s stock, valued at $353,414.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 28,731 shares of company stock worth $242,036 in the last ninety days. 1.20% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CTT. Martingale Asset Management L P lifted its position in shares of Catchmark Timber Trust by 1.3% during the 3rd quarter. Martingale Asset Management L P now owns 190,618 shares of the financial services provider’s stock valued at $2,179,000 after acquiring an additional 2,400 shares during the period. MetLife Investment Advisors LLC lifted its position in shares of Catchmark Timber Trust by 24.3% during the 2nd quarter. MetLife Investment Advisors LLC now owns 23,620 shares of the financial services provider’s stock valued at $301,000 after acquiring an additional 4,618 shares during the period. Teachers Advisors LLC lifted its position in shares of Catchmark Timber Trust by 2.2% during the 3rd quarter. Teachers Advisors LLC now owns 230,420 shares of the financial services provider’s stock valued at $2,634,000 after acquiring an additional 4,954 shares during the period. Wells Fargo & Company MN lifted its position in shares of Catchmark Timber Trust by 1.8% during the 3rd quarter. Wells Fargo & Company MN now owns 331,928 shares of the financial services provider’s stock valued at $3,794,000 after acquiring an additional 5,734 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of Catchmark Timber Trust by 16.9% during the 2nd quarter. California Public Employees Retirement System now owns 39,761 shares of the financial services provider’s stock valued at $506,000 after acquiring an additional 5,761 shares during the period. 80.57% of the stock is currently owned by institutional investors.

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.

Further Reading: Stock Symbol

Analyst Recommendations for Catchmark Timber Trust (NYSE:CTT)

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