Uniplan Investment Counsel Inc. acquired a new stake in Catchmark Timber Trust Inc (NYSE:CTT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 517,046 shares of the financial services provider’s stock, valued at approximately $5,909,000.
A number of other institutional investors and hedge funds have also modified their holdings of CTT. Cornerstone Wealth Management LLC acquired a new stake in shares of Catchmark Timber Trust in the second quarter worth approximately $400,000. NEXT Financial Group Inc acquired a new stake in Catchmark Timber Trust during the 3rd quarter valued at $103,000. Stevens Capital Management LP acquired a new stake in Catchmark Timber Trust during the 2nd quarter valued at $129,000. State of Alaska Department of Revenue acquired a new stake in Catchmark Timber Trust during the 3rd quarter valued at $179,000. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in Catchmark Timber Trust by 51.9% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 19,600 shares of the financial services provider’s stock valued at $224,000 after buying an additional 6,700 shares during the last quarter. 80.57% of the stock is currently owned by institutional investors.
In other Catchmark Timber Trust news, Director Donald S. Moss acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 28th. The shares were acquired at an average price of $8.37 per share, for a total transaction of $41,850.00. Following the completion of the acquisition, the director now directly owns 42,224 shares of the company’s stock, valued at $353,414.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have bought 10,500 shares of company stock worth $95,085 in the last 90 days. Insiders own 1.20% of the company’s stock.
Catchmark Timber Trust (NYSE:CTT) last posted its quarterly earnings data on Friday, November 2nd. The financial services provider reported ($1.61) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.59) by $1.98. Catchmark Timber Trust had a negative return on equity of 20.93% and a negative net margin of 90.95%. The business had revenue of $24.58 million for the quarter, compared to analysts’ expectations of $23.04 million. As a group, equities research analysts predict that Catchmark Timber Trust Inc will post -2.46 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 6.55%. The ex-dividend date of this dividend is Thursday, November 29th. Catchmark Timber Trust’s dividend payout ratio (DPR) is -158.82%.
A number of equities research analysts have commented on the company. ValuEngine cut Catchmark Timber Trust from a “buy” rating to a “hold” rating in a report on Wednesday, November 28th. Citigroup assumed coverage on Catchmark Timber Trust in a report on Tuesday, November 20th. They set a “neutral” rating and a $10.50 target price on the stock. B. Riley lowered their target price on Catchmark Timber Trust to $12.00 and set a “buy” rating on the stock in a report on Wednesday, November 14th. TheStreet cut Catchmark Timber Trust from a “c-” rating to a “d” rating in a report on Tuesday, November 6th. Finally, Zacks Investment Research cut Catchmark Timber Trust from a “buy” rating to a “hold” rating in a report on Wednesday, November 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Catchmark Timber Trust presently has a consensus rating of “Buy” and an average price target of $12.50.
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About Catchmark Timber Trust
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, and well-timed real estate sales. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in over 1.6 million acres of timberlands located in Alabama, Florida, Georgia, Louisiana, North Carolina, Oregon, South Carolina, Tennessee and Texas.
Further Reading: Systematic Risk
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