Brokerages Expect Catchmark Timber Trust Inc (CTT) Will Post Quarterly Sales of $27.30 Million

Wall Street brokerages expect Catchmark Timber Trust Inc (NYSE:CTT) to post $27.30 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Catchmark Timber Trust’s earnings, with estimates ranging from $27.00 million to $27.85 million. Catchmark Timber Trust reported sales of $24.10 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13.3%. The company is scheduled to announce its next earnings report on Thursday, May 2nd.

According to Zacks, analysts expect that Catchmark Timber Trust will report full-year sales of $111.58 million for the current year, with estimates ranging from $109.90 million to $114.03 million. For the next financial year, analysts forecast that the business will post sales of $116.02 million, with estimates ranging from $111.75 million to $120.30 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Catchmark Timber Trust.

Catchmark Timber Trust (NYSE:CTT) last announced its earnings results on Friday, February 15th. The financial services provider reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.07). Catchmark Timber Trust had a negative net margin of 124.68% and a negative return on equity of 28.26%. The business had revenue of $22.93 million for the quarter, compared to the consensus estimate of $24.79 million.

Several brokerages recently weighed in on CTT. Zacks Investment Research downgraded Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, November 7th. ValuEngine downgraded Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, November 28th. Royal Bank of Canada raised their price objective on Catchmark Timber Trust from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 19th. Raymond James set a $11.00 price objective on Catchmark Timber Trust and gave the stock a “buy” rating in a research report on Tuesday, January 8th. Finally, TheStreet downgraded Catchmark Timber Trust from a “c-” rating to a “d” rating in a research report on Tuesday, November 6th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $11.29.

In related news, CFO Brian M. Davis bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, December 6th. The stock was acquired at an average price of $8.16 per share, for a total transaction of $40,800.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have purchased a total of 18,231 shares of company stock valued at $146,951 in the last 90 days. 1.20% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System grew its stake in Catchmark Timber Trust by 16.9% in the 2nd quarter. California Public Employees Retirement System now owns 39,761 shares of the financial services provider’s stock valued at $506,000 after buying an additional 5,761 shares in the last quarter. Northern Trust Corp raised its position in Catchmark Timber Trust by 13.5% in the second quarter. Northern Trust Corp now owns 582,413 shares of the financial services provider’s stock worth $7,414,000 after acquiring an additional 69,338 shares during the period. Securian Asset Management Inc raised its position in Catchmark Timber Trust by 53.9% in the third quarter. Securian Asset Management Inc now owns 81,700 shares of the financial services provider’s stock worth $934,000 after acquiring an additional 28,600 shares during the period. Russell Investments Group Ltd. raised its position in Catchmark Timber Trust by 3.5% in the third quarter. Russell Investments Group Ltd. now owns 700,496 shares of the financial services provider’s stock worth $8,008,000 after acquiring an additional 23,597 shares during the period. Finally, OLD National Bancorp IN raised its position in Catchmark Timber Trust by 31.8% in the third quarter. OLD National Bancorp IN now owns 44,776 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 10,792 shares during the period. Institutional investors and hedge funds own 81.94% of the company’s stock.

NYSE:CTT traded up $0.01 during mid-day trading on Tuesday, hitting $9.56. 128,245 shares of the company’s stock traded hands, compared to its average volume of 291,636. Catchmark Timber Trust has a 12 month low of $6.71 and a 12 month high of $13.73. The company has a market cap of $480.95 million, a price-to-earnings ratio of -3.75 and a beta of 1.25. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.48.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $0.54 annualized dividend and a dividend yield of 5.65%. Catchmark Timber Trust’s dividend payout ratio (DPR) is presently -21.18%.

Catchmark Timber Trust Company Profile

CatchMark (NYSE: CTT) is a pure play timberland REIT that strives to deliver consistent and predictable per-share cash flow growth through disciplined acquisitions, active management, 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 1.6 million acres* of timberlands located in Alabama, Florida, Georgia, North Carolina, Oregon, South Carolina, Tennessee and Texas.

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Earnings History and Estimates for Catchmark Timber Trust (NYSE:CTT)

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