Shares of CatchMark Timber Trust, Inc. (NYSE:CTT) reached a new 52-week high during mid-day trading on Tuesday following insider buying activity. The company traded as high as $13.25 and last traded at $13.01, with a volume of 242100 shares traded. The stock had previously closed at $13.00.
Specifically, Director Paul S. Fisher bought 2,700 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were purchased at an average cost of $12.84 per share, with a total value of $34,668.00. Following the acquisition, the director now owns 14,918 shares of the company’s stock, valued at $191,547.12. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by insiders.
CTT has been the topic of several research analyst reports. BidaskClub upgraded CatchMark Timber Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded CatchMark Timber Trust from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Tuesday, August 8th. ValuEngine raised shares of CatchMark Timber Trust from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Finally, Stifel Nicolaus lowered their target price on shares of CatchMark Timber Trust from $13.50 to $12.50 and set a “buy” rating on the stock in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. CatchMark Timber Trust has a consensus rating of “Hold” and an average target price of $13.25.
The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Wednesday, November 29th. CatchMark Timber Trust’s payout ratio is currently -158.82%.
Hedge funds have recently added to or reduced their stakes in the stock. Stelac Advisory Services LLC bought a new position in CatchMark Timber Trust in the third quarter worth about $106,000. Legal & General Group Plc boosted its holdings in CatchMark Timber Trust by 0.7% in the first quarter. Legal & General Group Plc now owns 10,432 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 73 shares during the last quarter. Sei Investments Co. boosted its holdings in CatchMark Timber Trust by 31.3% in the second quarter. Sei Investments Co. now owns 11,008 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 2,626 shares during the last quarter. Raymond James Trust N.A. purchased a new position in shares of CatchMark Timber Trust during the 3rd quarter worth $137,000. Finally, Sowell Financial Services LLC purchased a new position in shares of CatchMark Timber Trust during the 3rd quarter worth $149,000. 63.13% of the stock is owned by institutional investors.
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About CatchMark Timber Trust
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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