Catchmark Timber Trust Inc (NYSE:CTT) insider Brian M. Davis acquired 3,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was bought at an average price of $10.02 per share, for a total transaction of $31,062.00. Following the completion of the transaction, the insider now owns 105,197 shares of the company’s stock, valued at approximately $1,054,073.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of CTT opened at $10.01 on Friday. The company has a market capitalization of $491.32 million, a price-to-earnings ratio of -3.93 and a beta of 1.30. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.70. Catchmark Timber Trust Inc has a 1 year low of $6.71 and a 1 year high of $13.21.
Catchmark Timber Trust (NYSE:CTT) last issued its earnings results on Thursday, May 2nd. The financial services provider reported ($0.62) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.06). The firm had revenue of $22.57 million during the quarter, compared to analysts’ expectations of $27.30 million. Catchmark Timber Trust had a negative return on equity of 41.60% and a negative net margin of 154.70%. Sell-side analysts anticipate that Catchmark Timber Trust Inc will post -2.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 5.39%. The ex-dividend date is Thursday, May 30th. Catchmark Timber Trust’s dividend payout ratio is currently -21.18%.
Several research firms recently weighed in on CTT. Zacks Investment Research upgraded shares of Catchmark Timber Trust from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. B. Riley restated a “buy” rating on shares of Catchmark Timber Trust in a research report on Tuesday. Finally, ValuEngine upgraded shares of Catchmark Timber Trust from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $10.75.
Institutional investors and hedge funds have recently modified their holdings of the business. MetLife Investment Advisors LLC boosted its stake in Catchmark Timber Trust by 47.2% in the third quarter. MetLife Investment Advisors LLC now owns 34,760 shares of the financial services provider’s stock worth $397,000 after buying an additional 11,140 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Catchmark Timber Trust during the third quarter valued at approximately $251,000. Nisa Investment Advisors LLC boosted its stake in shares of Catchmark Timber Trust by 830.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 37,200 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 33,200 shares during the period. Dalton Greiner Hartman Maher & Co. boosted its stake in shares of Catchmark Timber Trust by 36.4% during the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 605,128 shares of the financial services provider’s stock valued at $4,296,000 after purchasing an additional 161,583 shares during the period. Finally, Wiley BROS. Aintree Capital LLC purchased a new stake in shares of Catchmark Timber Trust during the fourth quarter valued at approximately $121,000. 80.65% of the stock is owned by institutional investors and hedge funds.
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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