CatchMark Timber Trust, Inc. (NYSE:CTT) announced its quarterly earnings data on Thursday, August 3rd. The financial services provider reported ($0.06) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.04, Morningstar.com reports. The company had revenue of $26.84 million during the quarter, compared to analyst estimates of $22.87 million. CatchMark Timber Trust had a negative net margin of 13.85% and a negative return on equity of 3.26%.
CatchMark Timber Trust (CTT) traded up 3.32% on Monday, hitting $11.51. 77,851 shares of the stock were exchanged. The stock’s market cap is $446.85 million. CatchMark Timber Trust has a 1-year low of $10.05 and a 1-year high of $12.06. The company’s 50 day moving average is $11.46 and its 200 day moving average is $11.32.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 30th will be given a $0.135 dividend. The ex-dividend date is Monday, August 28th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.69%. CatchMark Timber Trust’s payout ratio is currently -174.19%.
Hedge funds have recently made changes to their positions in the stock. Metropolitan Life Insurance Co. NY raised its position in CatchMark Timber Trust by 8.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 28,006 shares of the financial services provider’s stock worth $315,000 after buying an additional 2,065 shares in the last quarter. BLB&B Advisors LLC raised its position in CatchMark Timber Trust by 12.7% in the first quarter. BLB&B Advisors LLC now owns 24,240 shares of the financial services provider’s stock worth $279,000 after buying an additional 2,740 shares in the last quarter. Karp Capital Management Corp bought a new position in CatchMark Timber Trust during the first quarter worth approximately $286,000. Baird Financial Group Inc. raised its position in CatchMark Timber Trust by 3.1% in the first quarter. Baird Financial Group Inc. now owns 266,531 shares of the financial services provider’s stock worth $3,070,000 after buying an additional 7,949 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in CatchMark Timber Trust by 19.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 114,533 shares of the financial services provider’s stock worth $1,319,000 after buying an additional 18,389 shares in the last quarter. 70.82% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on CTT shares. 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 research report on Wednesday, May 10th. BidaskClub upgraded shares of CatchMark Timber Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th.
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About CatchMark Timber Trust
CatchMark Timber Trust, Inc is a real estate company investing in timberlands. The Company primarily engages in the ownership, management, acquisition and disposition of timberlands located in the United States. It is focused on investing in timberlands and to manage such assets to provide current income and attractive long-term returns to its stockholders.
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