Kennedy Capital Management Inc. decreased its position in shares of Catchmark Timber Trust Inc (NYSE:CTT) by 20.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 342,882 shares of the financial services provider’s stock after selling 86,013 shares during the period. Kennedy Capital Management Inc.’s holdings in Catchmark Timber Trust were worth $3,367,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC acquired a new position in Catchmark Timber Trust during the 1st quarter worth $28,000. Federated Investors Inc. PA grew its holdings in Catchmark Timber Trust by 378.8% during the 1st quarter. Federated Investors Inc. PA now owns 5,080 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 4,019 shares in the last quarter. Legal & General Group Plc grew its holdings in Catchmark Timber Trust by 17.5% during the 4th quarter. Legal & General Group Plc now owns 8,907 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 1,328 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Catchmark Timber Trust by 367.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,015 shares of the financial services provider’s stock worth $89,000 after acquiring an additional 7,085 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Catchmark Timber Trust during the 4th quarter worth $92,000. 81.02% of the stock is currently owned by hedge funds and other institutional investors.
In other Catchmark Timber Trust news, insider Brian M. Davis purchased 3,100 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average cost of $10.02 per share, with a total value of $31,062.00. Following the acquisition, the insider now owns 105,197 shares of the company’s stock, valued at approximately $1,054,073.94. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.
NYSE CTT opened at $10.35 on Friday. Catchmark Timber Trust Inc has a one year low of $6.71 and a one year high of $13.04. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.70.
Catchmark Timber Trust (NYSE:CTT) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported ($0.62) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.06). Catchmark Timber Trust had a negative net margin of 154.70% and a negative return on equity of 41.60%. The business had revenue of $22.57 million during the quarter, compared to analyst estimates of $27.30 million. As a group, analysts anticipate that Catchmark Timber Trust Inc will post -2.06 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 5.22%. The ex-dividend date is Thursday, May 30th. Catchmark Timber Trust’s dividend payout ratio (DPR) is presently -21.18%.
Several research analysts have weighed in on CTT shares. Royal Bank of Canada raised their price objective on shares of Catchmark Timber Trust from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Tuesday, February 19th. Zacks Investment Research raised shares of Catchmark Timber Trust from a “sell” rating to a “hold” rating in a report on Friday, April 19th. B. Riley reissued a “buy” rating on shares of Catchmark Timber Trust in a report on Tuesday, May 7th. Finally, ValuEngine raised shares of Catchmark Timber Trust from a “hold” rating to a “buy” rating in a report on Friday, May 10th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $10.75.
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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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