CatchMark Timber Trust, Inc. (NYSE:CTT) Cut to “Hold” at Zacks Investment Research

CatchMark Timber Trust, Inc. (NYSE:CTT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

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. “

Separately, TheStreet upgraded shares of CatchMark Timber Trust from a “d+” rating to a “c-” rating in a report on Friday, April 7th.

Shares of CatchMark Timber Trust (NYSE:CTT) traded down 1.67% during mid-day trading on Monday, reaching $11.20. 83,879 shares of the company’s stock traded hands. The stock’s market capitalization is $434.67 million. The company’s 50-day moving average price is $11.50 and its 200-day moving average price is $11.20. CatchMark Timber Trust has a 12-month low of $10.05 and a 12-month high of $12.58.

CatchMark Timber Trust (NYSE:CTT) last issued its quarterly earnings data on Thursday, May 4th. The financial services provider reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. CatchMark Timber Trust had a negative net margin of 16.02% and a negative return on equity of 3.25%. The firm had revenue of $23.13 million for the quarter, compared to analyst estimates of $25.51 million. Analysts anticipate that CatchMark Timber Trust will post ($0.38) earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Wednesday, May 31st were issued a dividend of $0.135 per share. The ex-dividend date was Friday, May 26th. This represents a $0.54 dividend on an annualized basis and a yield of 4.82%. CatchMark Timber Trust’s dividend payout ratio (DPR) is presently -168.75%.

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A number of large investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY raised its stake in CatchMark Timber Trust by 8.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 28,006 shares of the financial services provider’s stock worth $315,000 after buying an additional 2,065 shares during the period. BLB&B Advisors LLC raised its stake in CatchMark Timber Trust by 12.7% in the first quarter. BLB&B Advisors LLC now owns 24,240 shares of the financial services provider’s stock worth $279,000 after buying an additional 2,740 shares during the period. Baird Financial Group Inc. raised its stake in CatchMark Timber Trust by 3.1% in the first quarter. Baird Financial Group Inc. now owns 266,531 shares of the financial services provider’s stock worth $3,070,000 after buying an additional 7,949 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in CatchMark Timber Trust by 19.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 114,533 shares of the financial services provider’s stock worth $1,319,000 after buying an additional 18,389 shares during the period. Finally, Granite Investment Partners LLC acquired a new stake in CatchMark Timber Trust during the first quarter worth about $1,648,000. Institutional investors own 69.69% of the company’s stock.

About CatchMark Timber Trust

CatchMark Timber Trust, Inc is a real estate company investing in timberlands. The Company primarily engages in the ownership, management, acquisition and disposition of timberlands located in the United States. It is focused on investing in timberlands and to manage such assets to provide current income and attractive long-term returns to its stockholders.

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