CatchMark Timber Trust, Inc. (NYSE:CTT) Receives $10.83 Consensus Target Price from Analysts

CatchMark Timber Trust, Inc. (NYSE:CTT) has been given an average recommendation of “Hold” by the eight brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $10.83.

CTT has been the subject of several research analyst reports. Royal Bank of Canada dropped their price objective on CatchMark Timber Trust from $12.00 to $9.00 and set a “sector perform” rating for the company in a report on Monday, October 18th. Raymond James lowered CatchMark Timber Trust from an “outperform” rating to an “underperform” rating in a research report on Friday, October 15th. B. Riley lowered CatchMark Timber Trust from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $13.50 to $10.00 in a research report on Friday, October 15th. Citigroup lowered CatchMark Timber Trust from a “buy” rating to a “neutral” rating in a research report on Friday, October 15th. Finally, Zacks Investment Research lowered CatchMark Timber Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday.

NYSE CTT opened at $8.61 on Wednesday. CatchMark Timber Trust has a fifty-two week low of $7.18 and a fifty-two week high of $12.78. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a 50 day simple moving average of $8.33 and a two-hundred day simple moving average of $10.23. The stock has a market cap of $420.94 million, a P/E ratio of 19.13 and a beta of 1.20.

CatchMark Timber Trust (NYSE:CTT) last released its quarterly earnings data on Thursday, November 4th. The financial services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.11. CatchMark Timber Trust had a return on equity of 15.68% and a net margin of 19.08%. During the same period in the previous year, the company posted ($0.09) earnings per share. Sell-side analysts predict that CatchMark Timber Trust will post 1.23 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Tuesday, November 30th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, November 29th. This represents a $0.30 annualized dividend and a yield of 3.48%. CatchMark Timber Trust’s dividend payout ratio is 66.67%.

Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in CatchMark Timber Trust by 308.8% during the second quarter. Russell Investments Group Ltd. now owns 129,147 shares of the financial services provider’s stock valued at $1,508,000 after purchasing an additional 97,557 shares in the last quarter. Advisory Services Network LLC purchased a new position in CatchMark Timber Trust during the second quarter valued at $27,000. Punch & Associates Investment Management Inc. lifted its position in CatchMark Timber Trust by 35.7% during the second quarter. Punch & Associates Investment Management Inc. now owns 530,098 shares of the financial services provider’s stock valued at $6,202,000 after purchasing an additional 139,381 shares in the last quarter. Formidable Asset Management LLC purchased a new position in CatchMark Timber Trust during the second quarter valued at $735,000. Finally, Goldman Sachs Group Inc. raised its holdings in CatchMark Timber Trust by 8.1% during the second quarter. Goldman Sachs Group Inc. now owns 38,020 shares of the financial services provider’s stock valued at $445,000 after acquiring an additional 2,835 shares during the period. Hedge funds and other institutional investors own 79.16% of the company’s stock.

About CatchMark Timber Trust

CatchMark Timber Trust, Inc engages in the ownership, management, acquisition, and disposition of timberlands. It operates through the following business segments: Harvest, Real Estate and Investment Management. The Harvest segment includes wholly-owned timber assets and associated timber sales, other revenues and related expenses.

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Analyst Recommendations for CatchMark Timber Trust (NYSE:CTT)

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