Wall Street analysts expect that Catchmark Timber Trust Inc (NYSE:CTT) will announce sales of $23.04 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Catchmark Timber Trust’s earnings, with the lowest sales estimate coming in at $21.25 million and the highest estimate coming in at $23.97 million. Catchmark Timber Trust reported sales of $18.61 million in the same quarter last year, which would suggest a positive year over year growth rate of 23.8%. The company is expected to issue its next quarterly earnings results on Thursday, November 1st.
On average, analysts expect that Catchmark Timber Trust will report full year sales of $98.18 million for the current fiscal year, with estimates ranging from $96.77 million to $99.67 million. For the next year, analysts anticipate that the company will post sales of $104.56 million, with estimates ranging from $102.29 million to $108.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Catchmark Timber Trust.
Catchmark Timber Trust (NYSE:CTT) last issued its earnings results on Thursday, August 2nd. The financial services provider reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. The business had revenue of $26.25 million for the quarter, compared to analyst estimates of $22.84 million. Catchmark Timber Trust had a negative net margin of 15.22% and a negative return on equity of 3.32%.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Catchmark Timber Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. ValuEngine lowered shares of Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, June 13th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $14.13.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTT. Nuveen Asset Management LLC raised its stake in Catchmark Timber Trust by 210.5% during the first quarter. Nuveen Asset Management LLC now owns 937,284 shares of the financial services provider’s stock worth $11,688,000 after acquiring an additional 635,413 shares during the period. Millennium Management LLC raised its stake in Catchmark Timber Trust by 45.2% during the first quarter. Millennium Management LLC now owns 1,555,844 shares of the financial services provider’s stock worth $19,401,000 after acquiring an additional 484,195 shares during the period. BlackRock Inc. raised its stake in Catchmark Timber Trust by 12.6% during the second quarter. BlackRock Inc. now owns 3,719,374 shares of the financial services provider’s stock worth $47,349,000 after acquiring an additional 416,173 shares during the period. Brookfield Asset Management Inc. raised its stake in Catchmark Timber Trust by 165.1% during the first quarter. Brookfield Asset Management Inc. now owns 626,887 shares of the financial services provider’s stock worth $7,817,000 after acquiring an additional 390,387 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Catchmark Timber Trust by 22.5% in the second quarter. Renaissance Technologies LLC now owns 1,898,500 shares of the financial services provider’s stock valued at $24,168,000 after purchasing an additional 348,100 shares during the period. Hedge funds and other institutional investors own 78.12% of the company’s stock.
Shares of Catchmark Timber Trust stock opened at $10.74 on Wednesday. The stock has a market capitalization of $561.40 million, a PE ratio of -31.59 and a beta of 0.61. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.64. Catchmark Timber Trust has a 1 year low of $10.67 and a 1 year high of $13.73.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Thursday, August 30th were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Wednesday, August 29th. This represents a $0.54 annualized dividend and a yield of 5.03%. Catchmark Timber Trust’s dividend payout ratio (DPR) is -158.82%.
Catchmark Timber Trust Company Profile
CatchMark Timber Trust, Inc (NYSE: CTT) is a self-administered and self-managed, publicly-traded timberland REIT that strives to deliver superior risk-adjusted returns for all stakeholders through disciplined acquisitions, sustainable harvests, well-timed real estate sales and investment management. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in approximately 1.6 million acres of timberlands located in Alabama, Florida, Georgia, Louisiana, North Carolina, South Carolina, Tennessee and Texas.
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