Zacks Investment Research upgraded shares of Catchmark Timber Trust (NYSE:CTT) from a hold rating to a buy rating in a research report released on Thursday, Zacks.com reports. Zacks Investment Research currently has $8.00 price objective on the financial services provider’s stock.

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. “

Separately, ValuEngine upgraded shares of Catchmark Timber Trust from a hold rating to a buy rating in a research note on Wednesday, March 18th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $10.50.

NYSE:CTT opened at $7.80 on Thursday. The firm has a market cap of $380.19 million, a P/E ratio of -5.69 and a beta of 1.25. The company has a debt-to-equity ratio of 2.79, a quick ratio of 2.23 and a current ratio of 0.80. Catchmark Timber Trust has a fifty-two week low of $5.13 and a fifty-two week high of $12.54. The firm has a 50-day simple moving average of $7.03 and a two-hundred day simple moving average of $9.93.

Catchmark Timber Trust (NYSE:CTT) last released its quarterly earnings data on Monday, May 4th. The financial services provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The firm had revenue of $26.97 million for the quarter, compared to the consensus estimate of $25.97 million. Catchmark Timber Trust had a negative net margin of 60.46% and a negative return on equity of 37.69%. On average, equities research analysts predict that Catchmark Timber Trust will post -0.22 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date is Thursday, May 28th. Catchmark Timber Trust’s payout ratio is presently -26.34%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Teachers Insurance & Annuity Association of America boosted its holdings in shares of Catchmark Timber Trust by 30.7% during the 1st quarter. Teachers Insurance & Annuity Association of America now owns 19,068 shares of the financial services provider’s stock valued at $137,000 after acquiring an additional 4,476 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Catchmark Timber Trust by 8.3% in the first quarter. Rhumbline Advisers now owns 94,957 shares of the financial services provider’s stock worth $686,000 after buying an additional 7,270 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Catchmark Timber Trust by 62.5% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 40,800 shares of the financial services provider’s stock worth $295,000 after buying an additional 15,700 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Catchmark Timber Trust by 9.7% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 252,175 shares of the financial services provider’s stock worth $1,821,000 after buying an additional 22,225 shares during the last quarter. Finally, Arizona State Retirement System purchased a new position in shares of Catchmark Timber Trust in the first quarter worth approximately $83,000. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Return On Assets

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