Catchmark Timber Trust’s (CTT) “Buy” Rating Reaffirmed at B. Riley

B. Riley reissued their buy rating on shares of Catchmark Timber Trust (NYSE:CTT) in a report released on Tuesday, May 7th, Zacks.com reports. B. Riley also issued estimates for Catchmark Timber Trust’s Q2 2019 earnings at ($0.55) EPS, Q3 2019 earnings at ($0.48) EPS, FY2019 earnings at ($2.00) EPS, Q1 2020 earnings at ($0.06) EPS, Q2 2020 earnings at ($0.05) EPS, Q3 2020 earnings at ($0.03) EPS and FY2020 earnings at ($0.18) EPS.

A number of other brokerages have also recently issued reports on CTT. Zacks Investment Research raised shares of Catchmark Timber Trust from a sell rating to a hold rating in a report on Thursday, April 11th. Royal Bank of Canada boosted their target price on shares of Catchmark Timber Trust from $10.00 to $11.00 and gave the company an outperform rating in a report on Tuesday, February 19th. Finally, ValuEngine raised shares of Catchmark Timber Trust from a hold rating to a buy rating in a report on Thursday, January 31st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $10.75.

Catchmark Timber Trust stock traded up $0.12 during trading on Tuesday, hitting $9.41. The stock had a trading volume of 154,165 shares, compared to its average volume of 255,821. 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 has a 1 year low of $6.71 and a 1 year high of $13.04. The company has a market cap of $455.95 million, a price-to-earnings ratio of -3.69 and a beta of 1.30.

Catchmark Timber Trust (NYSE:CTT) last issued its earnings results on Thursday, May 2nd. The financial services provider reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $27.30 million. As a group, equities research analysts forecast that Catchmark Timber Trust will post -2.06 earnings per share for the current fiscal year.

The company 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. The ex-dividend date is Thursday, May 30th. This represents a $0.54 annualized dividend and a dividend yield of 5.74%. Catchmark Timber Trust’s payout ratio is currently -21.18%.

In other Catchmark Timber Trust news, Director Donald S. Moss purchased 10,000 shares of the business’s stock in a transaction on Friday, March 8th. The stock was acquired at an average cost of $9.52 per share, for a total transaction of $95,200.00. Following the completion of the transaction, the director now directly owns 57,224 shares in the company, valued at approximately $544,772.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian M. Davis purchased 3,100 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were acquired at an average price of $10.02 per share, with a total value of $31,062.00. Following the completion of the transaction, the insider now owns 105,197 shares of the company’s stock, valued at $1,054,073.94. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its holdings in shares of Catchmark Timber Trust by 1.3% during the first quarter. Commonwealth Equity Services LLC now owns 83,088 shares of the financial services provider’s stock worth $815,000 after purchasing an additional 1,105 shares during the period. SEI Investments Co boosted its holdings in shares of Catchmark Timber Trust by 66.6% during the first quarter. SEI Investments Co now owns 2,809 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 1,123 shares during the period. Legal & General Group Plc boosted its holdings in shares of Catchmark Timber Trust by 17.5% during the fourth quarter. Legal & General Group Plc now owns 8,907 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 1,328 shares during the period. Advisor Group Inc. boosted its holdings in shares of Catchmark Timber Trust by 13.9% during the first quarter. Advisor Group Inc. now owns 12,227 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 1,490 shares during the period. Finally, Advisory Services Network LLC boosted its holdings in shares of Catchmark Timber Trust by 4.9% during the first quarter. Advisory Services Network LLC now owns 44,743 shares of the financial services provider’s stock worth $439,000 after purchasing an additional 2,071 shares during the period. Institutional investors own 81.02% of the company’s stock.

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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