CatchMark Timber Trust, Inc. (NYSE:CTT) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
A number of other brokerages have also recently issued reports on CTT. Zacks Investment Research cut shares of CatchMark Timber Trust from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. BidaskClub cut shares of CatchMark Timber Trust from a “hold” rating to a “sell” rating in a report on Thursday, August 10th.
CatchMark Timber Trust (CTT) opened at 12.33 on Wednesday. The firm’s market cap is $478.69 million. The company’s 50 day moving average is $11.59 and its 200-day moving average is $11.47. CatchMark Timber Trust has a 1-year low of $10.05 and a 1-year high of $12.42.
CatchMark Timber Trust (NYSE:CTT) last announced its earnings results on Thursday, August 3rd. The financial services provider reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.04. CatchMark Timber Trust had a negative net margin of 13.85% and a negative return on equity of 3.26%. The company had revenue of $26.84 million during the quarter, compared to the consensus estimate of $22.87 million. On average, analysts predict that CatchMark Timber Trust will post ($0.36) EPS for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in CTT. Legal & General Group Plc increased its position in CatchMark Timber Trust by 0.7% during the first quarter. Legal & General Group Plc now owns 10,432 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 73 shares during the period. Sei Investments Co. grew its stake in CatchMark Timber Trust by 31.3% during the second quarter. Sei Investments Co. now owns 11,008 shares of the financial services provider’s stock worth $125,000 after buying an additional 2,626 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in CatchMark Timber Trust during the second quarter worth about $152,000. UBS Asset Management Americas Inc. grew its stake in CatchMark Timber Trust by 6.9% during the fourth quarter. UBS Asset Management Americas Inc. now owns 13,600 shares of the financial services provider’s stock worth $153,000 after buying an additional 882 shares in the last quarter. Finally, Citigroup Inc. grew its stake in CatchMark Timber Trust by 62.2% during the second quarter. Citigroup Inc. now owns 14,604 shares of the financial services provider’s stock worth $166,000 after buying an additional 5,603 shares in the last quarter. 70.15% of the stock is currently owned by institutional investors and hedge funds.
CatchMark Timber Trust Company Profile
CatchMark Timber Trust, Inc is a real estate company investing in timberlands. The Company primarily engages in the ownership, management, acquisition and disposition of timberlands located in the United States. It is focused on investing in timberlands and to manage such assets to provide current income and attractive long-term returns to its stockholders.
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