Catchmark Timber Trust (CTT) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Catchmark Timber Trust (NYSE:CTT) from a hold rating to a buy rating in a research note issued to investors on Friday, ValuEngine reports.

CTT has been the subject of several other research reports. Zacks Investment Research downgraded shares of Catchmark Timber Trust from a hold rating to a sell rating in a report on Thursday, March 21st. Citigroup raised shares of Catchmark Timber Trust from a neutral rating to a buy rating in a report on Monday, January 14th. Royal Bank of Canada increased their price objective on shares of Catchmark Timber Trust from $10.00 to $11.00 and gave the company an outperform rating in a report on Tuesday, February 19th. Finally, B. Riley reissued a buy rating on shares of Catchmark Timber Trust in a report on Tuesday, May 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $10.75.

Shares of Catchmark Timber Trust stock opened at $10.19 on Friday. The firm has a market capitalization of $500.13 million, a P/E ratio of -4.00 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 has a fifty-two week low of $6.71 and a fifty-two week 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 for the quarter, missing the consensus estimate of ($0.56) by ($0.06). The firm had revenue of $22.57 million during the quarter, compared to the consensus estimate of $27.30 million. Catchmark Timber Trust had a negative return on equity of 41.60% and a negative net margin of 154.70%. On average, sell-side analysts forecast that Catchmark Timber Trust will post -2.06 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 5.30%. The ex-dividend date is Thursday, May 30th. Catchmark Timber Trust’s dividend payout ratio (DPR) is presently -21.18%.

In other Catchmark Timber Trust news, Director Donald S. Moss bought 10,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were purchased at an average cost of $9.52 per share, for a total transaction of $95,200.00. Following the transaction, the director now owns 57,224 shares of the company’s stock, valued at $544,772.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian M. Davis bought 3,100 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were acquired 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 directly owns 105,197 shares in the company, valued at approximately $1,054,073.94. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CTT. Lindbrook Capital LLC purchased a new stake in shares of Catchmark Timber Trust during the 1st quarter valued at about $28,000. Federated Investors Inc. PA raised its position in shares of Catchmark Timber Trust by 378.8% during the 1st quarter. Federated Investors Inc. PA now owns 5,080 shares of the financial services provider’s stock valued at $50,000 after buying an additional 4,019 shares in the last quarter. Legal & General Group Plc raised its position in shares of 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 valued at $63,000 after buying an additional 1,328 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of 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 valued at $89,000 after buying an additional 7,085 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Catchmark Timber Trust during the 4th quarter valued at about $92,000. Hedge funds and other institutional investors own 80.65% of the company’s stock.

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: Systematic Risk and Investors

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