Millennium Management LLC trimmed its holdings in Catchmark Timber Trust Inc (NYSE:CTT) by 86.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,756 shares of the financial services provider’s stock after selling 82,945 shares during the period. Millennium Management LLC’s holdings in Catchmark Timber Trust were worth $91,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of CTT. Real Estate Management Services LLC boosted its stake in Catchmark Timber Trust by 135.8% in the 4th quarter. Real Estate Management Services LLC now owns 1,120,500 shares of the financial services provider’s stock worth $7,956,000 after buying an additional 645,281 shares during the last quarter. Vanguard Group Inc boosted its stake in Catchmark Timber Trust by 10.9% in the 3rd quarter. Vanguard Group Inc now owns 5,032,403 shares of the financial services provider’s stock worth $57,520,000 after buying an additional 494,691 shares during the last quarter. Vanguard Group Inc. boosted its stake in Catchmark Timber Trust by 10.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,032,403 shares of the financial services provider’s stock worth $57,520,000 after buying an additional 494,691 shares during the last quarter. Peregrine Capital Management LLC lifted its stake in shares of Catchmark Timber Trust by 134.2% in the 4th quarter. Peregrine Capital Management LLC now owns 823,692 shares of the financial services provider’s stock valued at $5,848,000 after purchasing an additional 472,001 shares in the last quarter. Finally, Royce & Associates LP acquired a new position in shares of Catchmark Timber Trust in the 4th quarter valued at about $1,155,000. 80.79% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the company. ValuEngine raised Catchmark Timber Trust from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. B. Riley reaffirmed a “buy” rating on shares of Catchmark Timber Trust in a research note on Tuesday, May 7th. Zacks Investment Research raised Catchmark Timber Trust from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Finally, Royal Bank of Canada lifted their price objective on Catchmark Timber Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, February 19th. One equities 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.
Catchmark Timber Trust (NYSE:CTT) last released its quarterly earnings data 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 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%. Sell-side analysts expect that Catchmark Timber Trust Inc will post -2.06 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 5.44%. The ex-dividend date of this dividend is Thursday, May 30th. Catchmark Timber Trust’s dividend payout ratio is currently -21.18%.
In related news, Director Donald S. Moss bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were acquired at an average cost of $9.52 per share, for a total transaction of $95,200.00. Following the acquisition, the director now owns 57,224 shares in the company, valued at approximately $544,772.48. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian M. Davis bought 3,100 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average price of $10.02 per share, for a total transaction of $31,062.00. Following the completion of the acquisition, the insider now owns 105,197 shares in the company, valued at approximately $1,054,073.94. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.
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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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