Analysts Set Catchmark Timber Trust Inc (NYSE:CTT) Price Target at $12.00

Shares of Catchmark Timber Trust Inc (NYSE:CTT) have received a consensus recommendation of “Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $12.00.

Several research firms recently weighed in on CTT. ValuEngine cut shares of Catchmark Timber Trust from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Zacks Investment Research upgraded shares of Catchmark Timber Trust from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Monday. Finally, Royal Bank of Canada cut shares of Catchmark Timber Trust from an “outperform” rating to a “sector perform” rating and set a $12.00 price target on the stock. in a report on Monday, November 4th.

NYSE:CTT traded up $0.07 during trading hours on Wednesday, hitting $11.76. The company had a trading volume of 122,300 shares, compared to its average volume of 219,483. The company has a market capitalization of $581.72 million, a PE ratio of -4.61 and a beta of 1.26. The stock has a 50-day moving average price of $11.56 and a 200 day moving average price of $10.49. Catchmark Timber Trust has a 52 week low of $6.71 and a 52 week high of $12.54. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.90 and a quick ratio of 0.90.

Catchmark Timber Trust (NYSE:CTT) last released its quarterly earnings results on Friday, November 1st. The financial services provider reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.13. The business had revenue of $26.38 million for the quarter, compared to analysts’ expectations of $29.23 million. Catchmark Timber Trust had a negative net margin of 119.09% and a negative return on equity of 48.74%. Analysts anticipate that Catchmark Timber Trust will post -2.05 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.59%. The ex-dividend date is Monday, November 25th. Catchmark Timber Trust’s dividend payout ratio is currently -21.18%.

A number of institutional investors have recently made changes to their positions in CTT. Nisa Investment Advisors LLC lifted its position in Catchmark Timber Trust by 41.0% during the second quarter. Nisa Investment Advisors LLC now owns 49,067 shares of the financial services provider’s stock valued at $513,000 after buying an additional 14,272 shares during the period. OLD National Bancorp IN raised its position in shares of Catchmark Timber Trust by 10.4% in the 2nd quarter. OLD National Bancorp IN now owns 43,990 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 4,161 shares during the last quarter. NEXT Financial Group Inc raised its position in shares of Catchmark Timber Trust by 21.8% in the 2nd quarter. NEXT Financial Group Inc now owns 11,023 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 1,976 shares during the last quarter. AMG National Trust Bank purchased a new position in shares of Catchmark Timber Trust in the 2nd quarter worth about $760,000. Finally, Advisor Group Inc. raised its position in shares of Catchmark Timber Trust by 76.4% in the 2nd quarter. Advisor Group Inc. now owns 21,564 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 9,337 shares during the last quarter. 81.88% of the stock is owned by institutional investors and hedge funds.

About Catchmark Timber Trust

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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