Zacks Investment Research upgraded shares of Catchmark Timber Trust (NYSE:CTT) from a sell rating to a hold rating in a report published on Friday morning, Zacks.com reports.

According to Zacks, “CatchMark Timber Trust Inc. is a real estate investment trust. The Company is involved in the ownership, management, acquisition and disposition of timberlands primarily in the United States. CatchMark Timber Trust Inc. is based in Norcross, Georgia. “

A number of other equities analysts have also recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Catchmark Timber Trust from $10.00 to $11.00 and gave the stock an outperform rating in a report on Tuesday, February 19th. ValuEngine raised shares of Catchmark Timber Trust from a hold rating to a buy rating in a report on Thursday, January 31st. Citigroup raised shares of Catchmark Timber Trust from a neutral rating to a buy rating in a report on Monday, January 14th. Finally, Raymond James set a $11.00 target price on shares of Catchmark Timber Trust and gave the stock a buy rating in a report on Tuesday, January 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $10.75.

Shares of CTT stock opened at $9.83 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.47. Catchmark Timber Trust has a one year low of $6.71 and a one year high of $13.29. The stock has a market cap of $482.49 million, a PE ratio of -3.85 and a beta of 1.31.

Catchmark Timber Trust (NYSE:CTT) last issued its quarterly earnings results on Friday, February 15th. The financial services provider reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.07). Catchmark Timber Trust had a negative return on equity of 30.18% and a negative net margin of 124.68%. The company had revenue of $22.93 million for the quarter, compared to the consensus estimate of $24.79 million. As a group, analysts anticipate that Catchmark Timber Trust will post -2.02 EPS for the current year.

In other Catchmark Timber Trust news, Director Donald S. Moss bought 10,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were purchased at an average price of $9.52 per share, with a total value of $95,200.00. Following the completion of the acquisition, the director now directly owns 57,224 shares of the company’s stock, valued at approximately $544,772.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc increased its stake in shares of Catchmark Timber Trust by 17.5% in the fourth quarter. Legal & General Group Plc now owns 8,907 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,328 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Catchmark Timber Trust in the fourth quarter valued at approximately $92,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Catchmark Timber Trust by 284.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 15,056 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 11,140 shares during the period. Wiley BROS. Aintree Capital LLC acquired a new stake in shares of Catchmark Timber Trust in the fourth quarter valued at approximately $121,000. Finally, Actinver Wealth Management Inc. acquired a new stake in shares of Catchmark Timber Trust in the fourth quarter valued at approximately $125,000. 82.28% of the stock is currently owned by hedge funds and other institutional investors.

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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