CatchMark Timber Trust, Inc. Plans Quarterly Dividend of $0.08 (NYSE:CTT)

CatchMark Timber Trust, Inc. (NYSE:CTTGet Rating) declared a quarterly dividend on Friday, May 6th, Wall Street Journal reports. Investors of record on Tuesday, May 31st will be paid a dividend of 0.075 per share by the financial services provider on Wednesday, June 15th. This represents a $0.30 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Friday, May 27th.

CatchMark Timber Trust has decreased its dividend payment by an average of 3.9% per year over the last three years. CatchMark Timber Trust has a dividend payout ratio of -375.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect CatchMark Timber Trust to earn ($0.11) per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of -272.7%.

Shares of CTT opened at $8.40 on Friday. CatchMark Timber Trust has a 12-month low of $7.18 and a 12-month high of $12.78. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $413.70 million, a price-to-earnings ratio of 6.51 and a beta of 1.12. The stock’s 50-day moving average price is $8.23 and its 200 day moving average price is $8.26.

CatchMark Timber Trust (NYSE:CTTGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.08. CatchMark Timber Trust had a return on equity of 38.68% and a net margin of 57.03%. During the same quarter last year, the business earned ($0.01) EPS. Equities research analysts expect that CatchMark Timber Trust will post -0.12 EPS for the current year.

Several equities analysts recently issued reports on the company. StockNews.com began coverage on CatchMark Timber Trust in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research lowered CatchMark Timber Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, April 19th. Finally, Robert W. Baird upgraded CatchMark Timber Trust from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $9.00 to $10.00 in a research note on Monday, April 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, CatchMark Timber Trust currently has an average rating of “Hold” and an average target price of $10.92.

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its holdings in shares of CatchMark Timber Trust by 57.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 70,003 shares of the financial services provider’s stock worth $610,000 after acquiring an additional 25,629 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of CatchMark Timber Trust by 1.9% in the 4th quarter. California State Teachers Retirement System now owns 67,605 shares of the financial services provider’s stock worth $589,000 after acquiring an additional 1,280 shares in the last quarter. Barclays PLC lifted its holdings in CatchMark Timber Trust by 181.1% during the 4th quarter. Barclays PLC now owns 59,374 shares of the financial services provider’s stock worth $517,000 after buying an additional 38,254 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in CatchMark Timber Trust during the 4th quarter worth $443,000. Finally, Public Employees Retirement System of Ohio acquired a new position in CatchMark Timber Trust during the 4th quarter worth $269,000. 79.43% of the stock is currently owned by institutional investors and hedge funds.

CatchMark Timber Trust Company Profile (Get Rating)

CatchMark (NYSE: CTT) seeks to deliver consistent and growing per share cash flow from disciplined acquisitions and superior management of prime timberlands located in high demand U.S. mill markets. Concentrating on maximizing cash flows throughout business cycles, the company strategically harvests its high-quality timberlands to produce durable revenue growth and takes advantage of proximate mill markets, which provide a reliable outlet for merchantable inventory.

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Dividend History for CatchMark Timber Trust (NYSE:CTT)

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