Catchmark Timber Trust (NYSE:CTT) Releases Earnings Results, Misses Estimates By $0.04 EPS

Catchmark Timber Trust (NYSE:CTT) posted its quarterly earnings data on Thursday. The financial services provider reported ($0.62) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($0.04), Fidelity Earnings reports. The firm had revenue of $28.66 million for the quarter, compared to the consensus estimate of $32.30 million. Catchmark Timber Trust had a negative return on equity of 54.78% and a negative net margin of 180.35%.

NYSE CTT traded down $0.55 during trading hours on Friday, hitting $9.66. 236,693 shares of the company traded hands, compared to its average volume of 178,234. The stock has a 50-day simple moving average of $10.27. Catchmark Timber Trust has a twelve month low of $6.71 and a twelve month high of $12.98. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.40 and a current ratio of 1.40.

A number of research firms recently issued reports on CTT. ValuEngine upgraded Catchmark Timber Trust from a “hold” rating to a “buy” rating in a report on Friday, May 10th. B. Riley reiterated a “buy” rating on shares of Catchmark Timber Trust in a report on Tuesday, May 7th. Finally, Zacks Investment Research downgraded Catchmark Timber Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $10.75.

In related news, insider Brian M. Davis purchased 3,100 shares of Catchmark Timber Trust stock in a transaction that occurred on Wednesday, May 8th. The stock was purchased at an average cost of $10.02 per share, with a total value 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 purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

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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Earnings History for Catchmark Timber Trust (NYSE:CTT)

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