CatchMark Timber Trust, Inc. (CTT) to Issue Quarterly Dividend of $0.14 on March 15th

CatchMark Timber Trust, Inc. (NYSE:CTT) announced a quarterly dividend on Thursday, February 11th, Zacks reports. Shareholders of record on Friday, February 26th will be given a dividend of 0.135 per share by the financial services provider on Monday, March 15th. This represents a $0.54 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Thursday, February 25th.

CatchMark Timber Trust has a payout ratio of -317.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect CatchMark Timber Trust to earn ($0.16) per share next year, which means the company may not be able to cover its $0.54 annual dividend with an expected future payout ratio of -337.5%.

CTT opened at $11.11 on Tuesday. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.37 and a quick ratio of 1.37. The business’s 50-day moving average price is $9.89 and its two-hundred day moving average price is $9.44. The company has a market capitalization of $541.78 million, a price-to-earnings ratio of -20.20 and a beta of 1.32. CatchMark Timber Trust has a 1 year low of $5.13 and a 1 year high of $11.43.

CatchMark Timber Trust (NYSE:CTT) last released its earnings results on Friday, February 12th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). CatchMark Timber Trust had a negative return on equity of 16.84% and a negative net margin of 25.76%. Sell-side analysts anticipate that CatchMark Timber Trust will post -0.36 earnings per share for the current fiscal year.

CTT has been the topic of a number of recent research reports. B. Riley lifted their target price on CatchMark Timber Trust from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Tuesday, February 16th. Zacks Investment Research downgraded CatchMark Timber Trust from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 17th. Robert W. Baird reiterated a “hold” rating on shares of CatchMark Timber Trust in a report on Sunday. Finally, Royal Bank of Canada cut CatchMark Timber Trust from an “outperform” rating to a “sector perform” rating and set a $11.00 price target for the company. in a report on Friday, February 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. CatchMark Timber Trust currently has an average rating of “Hold” and a consensus target price of $11.25.

About CatchMark Timber Trust

CatchMark (NYSE: CTT) seeks to deliver consistent and growing per share cash flow from disciplined acquisitions and superior management of prime timberlands located in high demand U.S. mill markets. Concentrating on maximizing cash flows throughout business cycles, the company strategically harvests its high-quality timberlands to produce durable revenue growth and takes advantage of proximate mill markets, which provide a reliable outlet for merchantable inventory.

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Dividend History for CatchMark Timber Trust (NYSE:CTT)

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