Brokerages expect that Catchmark Timber Trust Inc (NYSE:CTT) will announce sales of $32.30 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Catchmark Timber Trust’s earnings, with the highest sales estimate coming in at $32.65 million and the lowest estimate coming in at $31.76 million. Catchmark Timber Trust reported sales of $26.25 million during the same quarter last year, which would suggest a positive year over year growth rate of 23%. The company is scheduled to issue its next earnings report on Thursday, August 1st.
On average, analysts expect that Catchmark Timber Trust will report full-year sales of $110.96 million for the current year, with estimates ranging from $109.02 million to $113.06 million. For the next year, analysts anticipate that the company will report sales of $116.21 million, with estimates ranging from $113.10 million to $118.26 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Catchmark Timber Trust.
Catchmark Timber Trust (NYSE:CTT) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported ($0.62) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.06). The company had revenue of $22.57 million during the quarter, compared to analysts’ expectations of $27.30 million. Catchmark Timber Trust had a negative return on equity of 41.60% and a negative net margin of 154.70%.
Shares of NYSE:CTT opened at $10.59 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $522.58 million, a P/E ratio of -4.15 and a beta of 1.26. Catchmark Timber Trust has a fifty-two week low of $6.71 and a fifty-two week high of $13.01.
The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend was Thursday, May 30th. Catchmark Timber Trust’s dividend payout ratio (DPR) is currently -21.18%.
In related news, insider Brian M. Davis purchased 3,100 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average cost of $10.02 per share, with a total value of $31,062.00. Following the acquisition, the insider now owns 105,197 shares of the company’s stock, valued at $1,054,073.94. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Catchmark Timber Trust by 0.7% during the fourth quarter. BlackRock Inc. now owns 3,927,777 shares of the financial services provider’s stock valued at $27,887,000 after purchasing an additional 26,778 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in Catchmark Timber Trust by 4.8% during the fourth quarter. Deprince Race & Zollo Inc. now owns 3,553,264 shares of the financial services provider’s stock valued at $25,228,000 after purchasing an additional 161,852 shares during the last quarter. Pictet Asset Management Ltd. lifted its holdings in Catchmark Timber Trust by 5.3% during the first quarter. Pictet Asset Management Ltd. now owns 3,103,408 shares of the financial services provider’s stock valued at $30,475,000 after purchasing an additional 155,576 shares during the last quarter. Investment Counselors of Maryland LLC lifted its holdings in Catchmark Timber Trust by 2.0% during the fourth quarter. Investment Counselors of Maryland LLC now owns 1,463,185 shares of the financial services provider’s stock valued at $10,389,000 after purchasing an additional 28,791 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in Catchmark Timber Trust by 1.2% during the first quarter. Bank of Montreal Can now owns 1,373,805 shares of the financial services provider’s stock valued at $13,491,000 after purchasing an additional 15,674 shares during the last quarter. 81.00% of the stock is currently owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Catchmark Timber Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Catchmark Timber Trust and related companies with MarketBeat.com's FREE daily email newsletter.