Catchmark Timber Trust (CTT) Cut to “Hold” at Zacks Investment Research

Catchmark Timber Trust (NYSE:CTT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “CatchMark Timber Trust Inc. is a real estate investment trust. The Company is involved in the ownership, management, acquisition and disposition of timberlands primarily in the United States. CatchMark Timber Trust Inc. is based in Norcross, Georgia. “

A number of other research firms have also recently weighed in on CTT. Stifel Nicolaus lowered their price target 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. Raymond James Financial restated a “buy” rating on shares of Catchmark Timber Trust in a report on Thursday, December 7th. Finally, ValuEngine upgraded shares of Catchmark Timber Trust from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $13.25.

Catchmark Timber Trust (NYSE CTT) traded up $0.06 during trading hours on Monday, hitting $13.32. 211,100 shares of the stock were exchanged, compared to its average volume of 187,940. Catchmark Timber Trust has a twelve month low of $10.10 and a twelve month high of $13.47. The company has a market cap of $574.07, a PE ratio of -38.06 and a beta of 0.69. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93.

In related news, Director Paul S. Fisher bought 2,700 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was bought at an average cost of $12.84 per share, for a total transaction of $34,668.00. Following the purchase, the director now directly owns 14,918 shares of the company’s stock, valued at $191,547.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in CTT. Sei Investments Co. boosted its stake in Catchmark Timber Trust by 31.3% in the 2nd 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 in the last quarter. Rhumbline Advisers boosted its stake in Catchmark Timber Trust by 0.3% in the 2nd quarter. Rhumbline Advisers now owns 52,017 shares of the financial services provider’s stock worth $591,000 after purchasing an additional 175 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Catchmark Timber Trust by 8.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 293,693 shares of the financial services provider’s stock worth $3,339,000 after purchasing an additional 23,636 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Catchmark Timber Trust by 10.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 31,562 shares of the financial services provider’s stock worth $359,000 after purchasing an additional 2,954 shares in the last quarter. Finally, Kennedy Capital Management Inc. boosted its stake in Catchmark Timber Trust by 3.2% in the 2nd quarter. Kennedy Capital Management Inc. now owns 109,425 shares of the financial services provider’s stock worth $1,244,000 after purchasing an additional 3,418 shares in the last quarter. Institutional investors own 63.71% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece of content was first published by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://transcriptdaily.com/2018/01/09/catchmark-timber-trust-ctt-cut-to-hold-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Catchmark Timber Trust (CTT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Catchmark Timber Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Catchmark Timber Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply