Zacks Investment Research Downgrades CatchMark Timber Trust, Inc. (NYSE:CTT) to Hold

CatchMark Timber Trust, Inc. (NYSE:CTT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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, BidaskClub lowered shares of CatchMark Timber Trust from a “hold” rating to a “sell” rating in a report on Thursday.

Shares of CatchMark Timber Trust (CTT) opened at 11.14 on Thursday. The stock’s 50 day moving average price is $11.46 and its 200 day moving average price is $11.30. CatchMark Timber Trust has a 1-year low of $10.05 and a 1-year high of $12.07. The company’s market capitalization is $432.49 million.

CatchMark Timber Trust (NYSE:CTT) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. CatchMark Timber Trust had a negative net margin of 13.85% and a negative return on equity of 3.26%. The company had revenue of $26.84 million during the quarter, compared to analyst estimates of $22.87 million. Analysts expect that CatchMark Timber Trust will post ($0.37) EPS for the current year.

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Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of CatchMark Timber Trust by 5.1% in the second quarter. Vanguard Group Inc. now owns 1,813,987 shares of the financial services provider’s stock valued at $20,626,000 after buying an additional 88,248 shares during the period. Pictet Asset Management Ltd. raised its position in shares of CatchMark Timber Trust by 0.3% in the first quarter. Pictet Asset Management Ltd. now owns 1,799,638 shares of the financial services provider’s stock valued at $20,732,000 after buying an additional 6,169 shares during the period. Deprince Race & Zollo Inc. raised its position in shares of CatchMark Timber Trust by 1.2% in the second quarter. Deprince Race & Zollo Inc. now owns 1,508,471 shares of the financial services provider’s stock valued at $17,151,000 after buying an additional 17,276 shares during the period. Pax World Management LLC purchased a new position in shares of CatchMark Timber Trust during the second quarter valued at about $10,778,000. Finally, State Street Corp raised its position in shares of CatchMark Timber Trust by 8.7% in the fourth quarter. State Street Corp now owns 658,637 shares of the financial services provider’s stock valued at $7,419,000 after buying an additional 52,622 shares during the period. 69.90% of the stock is owned by institutional investors.

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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