Catchmark Timber Trust (NYSE:CTT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.
According to Zacks, “CatchMark Timber Trust Inc. is a real estate investment trust. The Company is involved in the ownership, management, acquisition and disposition of timberlands primarily in the United States. CatchMark Timber Trust Inc. is based in Norcross, Georgia. “
A number of other equities research analysts have also commented on the stock. Royal Bank of Canada lowered shares of Catchmark Timber Trust from an “outperform” rating to a “sector perform” rating and set a $12.00 price objective on the stock. in a research note on Monday, November 4th. ValuEngine lowered shares of Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $12.00.
NYSE CTT traded up $0.07 on Wednesday, hitting $11.76. The company’s stock had a trading volume of 122,300 shares, compared to its average volume of 219,483. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.22. Catchmark Timber Trust has a 1-year low of $6.71 and a 1-year high of $12.54. The company’s 50-day moving average is $11.56 and its 200 day moving average is $10.49. The firm has a market cap of $581.72 million, a PE ratio of -4.61 and a beta of 1.26.
Catchmark Timber Trust (NYSE:CTT) last posted its quarterly earnings data on Friday, November 1st. The financial services provider reported ($0.42) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.55) by $0.13. Catchmark Timber Trust had a negative net margin of 119.09% and a negative return on equity of 48.74%. The company had revenue of $26.38 million for the quarter, compared to analyst estimates of $29.23 million. On average, equities analysts expect that Catchmark Timber Trust will post -2.05 EPS for the current year.
Large investors have recently bought and sold shares of the company. Royal Bank of Canada bought a new stake in shares of Catchmark Timber Trust in the 2nd quarter valued at $64,000. OneAscent Financial Services LLC bought a new position in Catchmark Timber Trust during the second quarter worth $110,000. NEXT Financial Group Inc boosted its stake in Catchmark Timber Trust by 21.8% during the second quarter. NEXT Financial Group Inc now owns 11,023 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 1,976 shares in the last quarter. MML Investors Services LLC boosted its stake in Catchmark Timber Trust by 22.7% during the second quarter. MML Investors Services LLC now owns 15,014 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 2,777 shares in the last quarter. Finally, Advisor Group Inc. boosted its stake in Catchmark Timber Trust by 76.4% during the second quarter. Advisor Group Inc. now owns 21,564 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 9,337 shares in the last quarter. 81.88% of the stock is currently owned by institutional investors.
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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