Catchmark Timber Trust Inc (NYSE:CTT) Shares Bought by Granite Investment Partners LLC
Granite Investment Partners LLC boosted its holdings in Catchmark Timber Trust Inc (NYSE:CTT) by 68.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 213,144 shares of the financial services provider’s stock after acquiring an additional 86,577 shares during the quarter. Granite Investment Partners LLC’s holdings in Catchmark Timber Trust were worth $2,093,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its position in shares of Catchmark Timber Trust by 1.3% in the first quarter. Commonwealth Equity Services LLC now owns 83,088 shares of the financial services provider’s stock valued at $815,000 after buying an additional 1,105 shares in the last quarter. Legal & General Group Plc boosted its stake 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 valued at $63,000 after acquiring an additional 1,328 shares during the last quarter. Advisor Group Inc. boosted its stake 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 valued at $120,000 after acquiring an additional 1,490 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV boosted its stake in shares of Catchmark Timber Trust by 20.3% during the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 13,505 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 2,275 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Catchmark Timber Trust by 2.9% during the first quarter. Swiss National Bank now owns 89,318 shares of the financial services provider’s stock valued at $877,000 after acquiring an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 81.02% of the company’s stock.
CTT has been the topic of a number of analyst reports. Zacks Investment Research lowered Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Royal Bank of Canada increased their price objective on Catchmark Timber Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, February 19th. Finally, B. Riley reissued a “buy” rating on shares of Catchmark Timber Trust in a research note on Tuesday, May 7th. 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 a consensus target price of $10.75.
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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). Catchmark Timber Trust had a negative return on equity of 41.60% and a negative net margin of 154.70%. The business had revenue of $22.57 million during the quarter, compared to analyst estimates of $27.30 million. As a group, research analysts forecast that Catchmark Timber Trust Inc will post -2.06 earnings per share for the current fiscal year.
The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 5.37%. Catchmark Timber Trust’s dividend payout ratio (DPR) is -21.18%.
In other news, insider Brian M. Davis acquired 3,100 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were bought at an average cost of $10.02 per share, for a total transaction of $31,062.00. Following the acquisition, the insider now directly owns 105,197 shares in the company, valued at approximately $1,054,073.94. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.98% of the company’s stock.
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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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