Catchmark Timber Trust (CTT) Lowered to “D” at TheStreet

TheStreet downgraded shares of Catchmark Timber Trust (NYSE:CTT) from a c- rating to a d rating in a research report sent to investors on Tuesday.

Several other brokerages have also commented on CTT. Zacks Investment Research upgraded Catchmark Timber Trust from a sell rating to a hold rating in a report on Tuesday, July 24th. Royal Bank of Canada upgraded Catchmark Timber Trust from a sector perform rating to an outperform rating and set a $12.00 price objective for the company in a report on Monday, November 5th. They noted that the move was a valuation call. Finally, ValuEngine lowered Catchmark Timber Trust from a buy rating to a hold rating in a report on Monday, October 22nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $13.63.

Catchmark Timber Trust stock opened at $9.28 on Tuesday. 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 firm has a market cap of $477.03 million, a price-to-earnings ratio of -27.29 and a beta of 0.89. Catchmark Timber Trust has a twelve month low of $8.80 and a twelve month high of $13.73.

Catchmark Timber Trust (NYSE:CTT) last posted its earnings results on Friday, November 2nd. The financial services provider reported ($1.61) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.59) by $1.98. The company had revenue of $24.58 million during the quarter, compared to analyst estimates of $23.04 million. Catchmark Timber Trust had a negative return on equity of 20.93% and a negative net margin of 90.95%. Analysts anticipate that Catchmark Timber Trust will post -3.05 earnings per share 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. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.54 annualized dividend and a dividend yield of 5.82%. Catchmark Timber Trust’s dividend payout ratio is presently -158.82%.

In other Catchmark Timber Trust news, Director Paul S. Fisher acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The stock was purchased at an average price of $9.68 per share, for a total transaction of $48,400.00. Following the acquisition, the director now owns 22,766 shares in the company, valued at approximately $220,374.88. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of Catchmark Timber Trust by 15.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 105,576 shares of the financial services provider’s stock valued at $1,344,000 after purchasing an additional 14,300 shares during the last quarter. Real Estate Management Services LLC lifted its holdings in shares of Catchmark Timber Trust by 51.3% during the 3rd quarter. Real Estate Management Services LLC now owns 475,219 shares of the financial services provider’s stock valued at $5,432,000 after purchasing an additional 161,119 shares during the last quarter. North Star Investment Management Corp. raised its stake in Catchmark Timber Trust by 54.3% in the 3rd quarter. North Star Investment Management Corp. now owns 169,965 shares of the financial services provider’s stock worth $1,943,000 after acquiring an additional 59,782 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Catchmark Timber Trust in the 2nd quarter worth $340,000. Finally, Bank of America Corp DE raised its stake in Catchmark Timber Trust by 12.1% in the 2nd quarter. Bank of America Corp DE now owns 867,540 shares of the financial services provider’s stock worth $11,044,000 after acquiring an additional 93,640 shares during the last quarter. Hedge funds and other institutional investors own 77.93% of the company’s stock.

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, 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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