Analysts expect that Catchmark Timber Trust Inc (NYSE:CTT) will post sales of $22.70 million for the current quarter, Zacks reports. Two analysts have made estimates for Catchmark Timber Trust’s earnings, with the highest sales estimate coming in at $22.90 million and the lowest estimate coming in at $22.50 million. Catchmark Timber Trust posted sales of $20.40 million during the same quarter last year, which suggests a positive year over year growth rate of 11.3%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 15th.
On average, analysts expect that Catchmark Timber Trust will report full-year sales of $22.70 million for the current financial year, with estimates ranging from $91.07 million to $91.50 million. For the next fiscal year, analysts anticipate that the firm will report sales of $100.93 million per share, with estimates ranging from $98.26 million to $103.60 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Catchmark Timber Trust.
A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Catchmark Timber Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. ValuEngine raised shares of Catchmark Timber Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. Raymond James Financial reaffirmed a “buy” rating on shares of Catchmark Timber Trust in a research report on Thursday, December 7th. Finally, Stifel Nicolaus reduced their price target on shares of Catchmark Timber Trust from $13.50 to $12.50 and set a “buy” rating for the company in a research report on Monday, October 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $13.25.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Wednesday, November 29th. Catchmark Timber Trust’s payout ratio is currently -154.29%.
In other Catchmark Timber Trust news, Director Paul S. Fisher purchased 2,700 shares of Catchmark Timber Trust stock in a transaction dated Thursday, November 9th. The stock was purchased at an average price of $12.84 per share, with a total value of $34,668.00. Following the transaction, the director now directly owns 14,918 shares of the company’s stock, valued at $191,547.12. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.20% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pictet Asset Management Ltd. increased its position in shares of Catchmark Timber Trust by 10.8% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,949,996 shares of the financial services provider’s stock valued at $24,589,000 after purchasing an additional 189,833 shares during the last quarter. Vanguard Group Inc. increased its holdings in Catchmark Timber Trust by 5.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,813,987 shares of the financial services provider’s stock worth $20,626,000 after acquiring an additional 88,248 shares in the last quarter. Deprince Race & Zollo Inc. increased its holdings in Catchmark Timber Trust by 0.8% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 1,520,420 shares of the financial services provider’s stock worth $19,172,000 after acquiring an additional 11,949 shares in the last quarter. Pax World Management LLC increased its holdings in Catchmark Timber Trust by 2.7% in the 3rd quarter. Pax World Management LLC now owns 973,442 shares of the financial services provider’s stock worth $12,275,000 after acquiring an additional 25,530 shares in the last quarter. Finally, State Street Corp increased its holdings in Catchmark Timber Trust by 4.5% in the 2nd quarter. State Street Corp now owns 802,831 shares of the financial services provider’s stock worth $9,131,000 after acquiring an additional 34,856 shares in the last quarter. 63.71% of the stock is owned by hedge funds and other institutional investors.
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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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