Zacks Investment Research Upgrades Catchmark Timber Trust (NYSE:CTT) to “Buy”

Catchmark Timber Trust (NYSE:CTT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday, Zacks.com reports. The brokerage currently has a $13.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.21% from the stock’s current price.

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. “

CTT has been the subject of several other reports. Royal Bank of Canada cut shares of Catchmark Timber Trust from an “outperform” rating to a “sector perform” rating and set a $12.00 price target for the company. in a report on Monday, November 4th. ValuEngine lowered Catchmark Timber Trust from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Catchmark Timber Trust has an average rating of “Buy” and a consensus target price of $12.00.

Shares of CTT opened at $11.69 on Monday. The stock has a market capitalization of $573.42 million, a P/E ratio of -4.58 and a beta of 1.26. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.90 and a current ratio of 0.90. Catchmark Timber Trust has a 1 year low of $6.71 and a 1 year high of $12.54. The company’s fifty day moving average is $11.54 and its two-hundred day moving average is $10.48.

Catchmark Timber Trust (NYSE:CTT) last released its earnings results on Friday, November 1st. The financial services provider reported ($0.42) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.55) by $0.13. The company had revenue of $26.38 million during the quarter, compared to analysts’ expectations of $29.23 million. Catchmark Timber Trust had a negative net margin of 119.09% and a negative return on equity of 48.74%. Sell-side analysts predict that Catchmark Timber Trust will post -2.05 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada acquired a new stake in Catchmark Timber Trust in the second quarter valued at $64,000. OneAscent Financial Services LLC purchased a new stake in shares of Catchmark Timber Trust during the 2nd quarter worth $110,000. NEXT Financial Group Inc grew its stake in shares of Catchmark Timber Trust by 21.8% during the 2nd 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 during the period. MML Investors Services LLC grew its stake in shares of Catchmark Timber Trust by 22.7% during the 2nd 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 during the period. Finally, Advisor Group Inc. increased its holdings in shares of Catchmark Timber Trust by 76.4% in the 2nd quarter. Advisor Group Inc. now owns 21,564 shares of the financial services provider’s stock valued at $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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