CatchMark Timber Trust, Inc. (NYSE:CTT) Receives Consensus Rating of “Hold” from Analysts

CatchMark Timber Trust, Inc. (NYSE:CTTGet Rating) has received an average rating of “Hold” from the seven brokerages that are currently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $10.90.

A number of equities analysts have issued reports on the company. Stifel Nicolaus cut CatchMark Timber Trust from a “buy” rating to a “hold” rating and increased their target price for the stock from $10.00 to $12.00 in a report on Wednesday, June 1st. Raymond James upgraded CatchMark Timber Trust from an “underperform” rating to a “market perform” rating in a report on Tuesday, May 31st. Citigroup increased their target price on CatchMark Timber Trust to $11.50 in a report on Thursday, June 9th. Finally, Robert W. Baird cut CatchMark Timber Trust from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $10.00 to $12.00 in a report on Thursday, June 2nd.

Institutional Investors Weigh In On CatchMark Timber Trust

Several hedge funds have recently bought and sold shares of CTT. Russell Investments Group Ltd. lifted its stake in CatchMark Timber Trust by 85.7% in the 4th quarter. Russell Investments Group Ltd. now owns 350,067 shares of the financial services provider’s stock valued at $3,046,000 after purchasing an additional 161,572 shares during the last quarter. New York State Teachers Retirement System bought a new position in shares of CatchMark Timber Trust during the fourth quarter worth approximately $37,000. Allspring Global Investments Holdings LLC bought a new position in shares of CatchMark Timber Trust during the fourth quarter worth approximately $345,000. Commonwealth Equity Services LLC increased its holdings in shares of CatchMark Timber Trust by 6.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 102,019 shares of the financial services provider’s stock worth $888,000 after purchasing an additional 5,914 shares during the period. Finally, Peregrine Capital Management LLC bought a new position in shares of CatchMark Timber Trust during the fourth quarter worth approximately $6,737,000. 79.43% of the stock is currently owned by institutional investors and hedge funds.

CatchMark Timber Trust Price Performance

CTT opened at $11.24 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.48. CatchMark Timber Trust has a 12 month low of $7.18 and a 12 month high of $12.41. The company has a fifty day simple moving average of $10.36 and a 200 day simple moving average of $8.94. The stock has a market cap of $553.55 million, a P/E ratio of 8.71 and a beta of 1.12.

CatchMark Timber Trust (NYSE:CTTGet Rating) last released its earnings results on Thursday, May 5th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. CatchMark Timber Trust had a return on equity of 37.28% and a net margin of 61.12%. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. On average, research analysts expect that CatchMark Timber Trust will post -0.08 EPS for the current year.

CatchMark Timber Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were paid a dividend of $0.075 per share. The ex-dividend date was Friday, May 27th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.67%. CatchMark Timber Trust’s dividend payout ratio is 23.26%.

About CatchMark Timber Trust

(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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Analyst Recommendations for CatchMark Timber Trust (NYSE:CTT)

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