Stephens Inc. AR purchased a new stake in shares of Catchmark Timber Trust Inc (NYSE:CTT) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 37,298 shares of the financial services provider’s stock, valued at approximately $366,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lindbrook Capital LLC acquired a new position in Catchmark Timber Trust in the first quarter worth approximately $28,000. Legal & General Group Plc grew its position in Catchmark Timber Trust by 17.5% during the 4th quarter. Legal & General Group Plc now owns 8,907 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 1,328 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Catchmark Timber Trust by 367.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,015 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 7,085 shares in the last quarter. SG Americas Securities LLC purchased a new position in Catchmark Timber Trust during the 1st quarter worth approximately $104,000. Finally, Actinver Wealth Management Inc. purchased a new position in Catchmark Timber Trust during the 4th quarter worth approximately $125,000. 79.71% of the stock is currently owned by institutional investors.
CTT has been the topic of several research analyst reports. Zacks Investment Research cut shares of Catchmark Timber Trust from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. Royal Bank of Canada lifted their price objective on shares of Catchmark Timber Trust from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 19th. ValuEngine upgraded shares of Catchmark Timber Trust from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Finally, B. Riley reiterated a “buy” rating on shares of Catchmark Timber Trust in a research report on Tuesday, May 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $10.75.
In related news, insider Brian M. Davis bought 3,100 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was bought at an average price of $10.02 per share, with a total value of $31,062.00. Following the purchase, the insider now directly owns 105,197 shares of the company’s stock, valued at approximately $1,054,073.94. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Donald S. Moss bought 10,000 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were bought at an average cost of $9.52 per share, with a total value of $95,200.00. Following the purchase, the director now directly owns 57,224 shares in the company, valued at $544,772.48. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.
Shares of NYSE:CTT traded up $0.02 during trading on Friday, reaching $9.74. 15,191 shares of the company traded hands, compared to its average volume of 232,220. The firm has a market capitalization of $482.95 million, a P/E ratio of -3.82 and a beta of 1.30. Catchmark Timber Trust Inc has a 1-year low of $6.71 and a 1-year high of $13.12. 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 (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 analysts’ consensus estimates of ($0.56) by ($0.06). The company had revenue of $22.57 million for the quarter, compared to analyst estimates of $27.30 million. Catchmark Timber Trust had a negative net margin of 154.70% and a negative return on equity of 41.60%. Equities research analysts expect that Catchmark Timber Trust Inc will post -2.06 earnings per share for the current fiscal year.
The business 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 dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend is Thursday, May 30th. Catchmark Timber Trust’s dividend payout ratio (DPR) is currently -21.18%.
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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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