Catchmark Timber Trust (NYSE:CTT) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Catchmark Timber Trust (NYSE:CTT) from a buy rating to a hold rating in a report released on Thursday morning, Zacks.com reports.

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. “

Other research analysts also recently issued research reports about the company. Royal Bank of Canada downgraded Catchmark Timber Trust from an outperform rating to a sector perform rating and set a $12.00 price objective on the stock. in a research note on Monday, November 4th. ValuEngine downgraded Catchmark Timber Trust from a buy rating to a hold rating in a research note on Thursday, November 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Catchmark Timber Trust presently has an average rating of Buy and a consensus target price of $12.00.

NYSE CTT opened at $11.87 on Thursday. The stock’s 50-day moving average price is $11.44 and its 200-day moving average price is $10.45. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.22. Catchmark Timber Trust has a 52 week low of $6.71 and a 52 week high of $12.54.

Catchmark Timber Trust (NYSE:CTT) last posted its quarterly earnings data on Friday, November 1st. The financial services provider reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.13. Catchmark Timber Trust had a negative return on equity of 48.74% and a negative net margin of 119.09%. The firm had revenue of $26.38 million for the quarter, compared to the consensus estimate of $29.23 million. On average, research analysts anticipate that Catchmark Timber Trust will post -2.05 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Monday, November 25th. Catchmark Timber Trust’s dividend payout ratio is currently -21.18%.

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada purchased a new stake in shares of Catchmark Timber Trust during the second quarter worth about $64,000. OneAscent Financial Services LLC purchased a new stake in shares of Catchmark Timber Trust during the second quarter worth about $110,000. NEXT Financial Group Inc grew its position 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. MML Investors Services LLC grew its position in shares of Catchmark Timber Trust by 22.7% during the second quarter. MML Investors Services LLC now owns 15,014 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 2,777 shares in the last quarter. Finally, Advisor Group Inc. grew its position in shares of Catchmark Timber Trust by 76.4% during the second quarter. Advisor Group Inc. now owns 21,564 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 9,337 shares in the last quarter. Hedge funds and other institutional investors own 81.88% of the company’s stock.

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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