ValuEngine Lowers Catchmark Timber Trust (CTT) to Hold

ValuEngine downgraded shares of Catchmark Timber Trust (NYSE:CTT) from a buy rating to a hold rating in a report released on Wednesday morning.

Other analysts also recently issued reports about the stock. TheStreet downgraded shares of Catchmark Timber Trust from a c- rating to a d rating in a research report on Tuesday, November 6th. B. Riley decreased their price objective on shares of Catchmark Timber Trust to $12.00 and set a buy rating on the stock in a research report on Wednesday, November 14th. Zacks Investment Research downgraded shares of Catchmark Timber Trust from a buy rating to a hold rating in a research report on Wednesday, November 7th. Citigroup assumed coverage on shares of Catchmark Timber Trust in a research report on Tuesday, November 20th. They set a neutral rating and a $10.50 price objective on the stock. Finally, Royal Bank of Canada upgraded shares of Catchmark Timber Trust from a sector perform rating to an outperform rating and set a $12.00 price objective on the stock in a research report on Monday, November 5th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Catchmark Timber Trust has a consensus rating of Buy and a consensus target price of $12.50.

Shares of CTT stock opened at $8.29 on Wednesday. The firm has a market cap of $415.26 million, a PE ratio of -24.38 and a beta of 0.89. Catchmark Timber Trust has a one year low of $8.18 and a one year high of $13.73. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.02 and a current ratio of 1.02.

Catchmark Timber Trust (NYSE:CTT) last announced its quarterly earnings data on Friday, November 2nd. The financial services provider reported ($1.61) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.59) by $1.98. The firm had revenue of $24.58 million for the quarter, compared to the consensus estimate of $23.04 million. Catchmark Timber Trust had a negative net margin of 90.95% and a negative return on equity of 20.93%. On average, equities analysts forecast that Catchmark Timber Trust will post -2.46 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Friday, November 30th will be issued a $0.135 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.54 dividend on an annualized basis and a yield of 6.51%. Catchmark Timber Trust’s dividend payout ratio is currently -158.82%.

In related news, Director Donald S. Moss purchased 5,000 shares of Catchmark Timber Trust stock in a transaction on Wednesday, November 28th. The shares were bought at an average cost of $8.37 per share, for a total transaction of $41,850.00. Following the acquisition, the director now owns 42,224 shares in the company, valued at approximately $353,414.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders acquired 10,500 shares of company stock worth $95,085. 1.20% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CTT. Royal Bank of Canada increased its holdings in Catchmark Timber Trust by 899.4% in the 1st quarter. Royal Bank of Canada now owns 32,331 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 29,096 shares during the last quarter. Cornerstone Wealth Management LLC purchased a new position in shares of Catchmark Timber Trust in the 2nd quarter worth $400,000. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Catchmark Timber Trust in the 2nd quarter worth $164,000. Advisory Services Network LLC grew its stake in shares of Catchmark Timber Trust by 72.7% in the 2nd quarter. Advisory Services Network LLC now owns 43,769 shares of the financial services provider’s stock worth $547,000 after buying an additional 18,431 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Catchmark Timber Trust by 914.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 162,815 shares of the financial services provider’s stock worth $2,073,000 after buying an additional 146,765 shares in the last quarter. Institutional investors own 79.84% of the company’s stock.

Catchmark Timber Trust Company Profile

CatchMark Timber Trust, Inc (NYSE: CTT) is a self-administered and self-managed, publicly-traded timberland REIT that strives to deliver superior risk-adjusted returns for all stakeholders through disciplined acquisitions, sustainable harvests, well-timed real estate sales and investment management. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in approximately 1.6 million acres of timberlands located in Alabama, Florida, Georgia, Louisiana, North Carolina, South Carolina, Tennessee and Texas.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Catchmark Timber Trust (NYSE:CTT)

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