Catchmark Timber Trust (NYSE:CTT) was downgraded by equities research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report issued on Monday, January 6th, The Fly reports. They presently have a $12.00 price objective on the financial services provider’s stock. Robert W. Baird’s price objective would suggest a potential upside of 8.40% from the company’s current price.
Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Catchmark Timber Trust from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Friday, January 3rd. ValuEngine cut shares of Catchmark Timber Trust from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada lowered shares of Catchmark Timber Trust from an “outperform” rating to a “sector perform” rating and set a $12.00 price objective on the stock. in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $12.00.
Shares of NYSE CTT opened at $11.07 on Monday. The firm has a fifty day simple moving average of $11.41 and a 200 day simple moving average of $10.79. Catchmark Timber Trust has a twelve month low of $8.18 and a twelve month high of $12.54. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.22. The company has a market capitalization of $534.67 million, a PE ratio of -4.34 and a beta of 1.25.
Catchmark Timber Trust (NYSE:CTT) last announced its quarterly earnings data on Friday, November 1st. The financial services provider reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.13. Catchmark Timber Trust had a negative return on equity of 48.74% and a negative net margin of 119.09%. The company had revenue of $26.38 million for the quarter, compared to the consensus estimate of $29.23 million. As a group, equities analysts expect that Catchmark Timber Trust will post -2.05 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the company. Swiss National Bank lifted its position in Catchmark Timber Trust by 2.4% in the 2nd quarter. Swiss National Bank now owns 91,418 shares of the financial services provider’s stock valued at $955,000 after acquiring an additional 2,100 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Catchmark Timber Trust by 4.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 120,244 shares of the financial services provider’s stock valued at $1,257,000 after acquiring an additional 5,430 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Catchmark Timber Trust by 9.0% during the second quarter. Renaissance Technologies LLC now owns 2,906,432 shares of the financial services provider’s stock valued at $30,372,000 after purchasing an additional 241,000 shares in the last quarter. Northern Trust Corp boosted its holdings in Catchmark Timber Trust by 2.1% during the second quarter. Northern Trust Corp now owns 601,393 shares of the financial services provider’s stock worth $6,286,000 after purchasing an additional 12,481 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in Catchmark Timber Trust by 22.7% during the second quarter. MML Investors Services LLC now owns 15,014 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 2,777 shares during the last quarter. 81.90% of the stock is owned by 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.
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