Zacks: Brokerages Anticipate CatchMark Timber Trust, Inc. (NYSE:CTT) Will Announce Quarterly Sales of $23.31 Million

Equities analysts expect that CatchMark Timber Trust, Inc. (NYSE:CTT) will post sales of $23.31 million for the current quarter, Zacks reports. Three analysts have provided estimates for CatchMark Timber Trust’s earnings, with estimates ranging from $21.60 million to $24.61 million. CatchMark Timber Trust posted sales of $30.95 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 24.7%. The business is expected to issue its next earnings results after the market closes on Thursday, February 10th.

On average, analysts expect that CatchMark Timber Trust will report full year sales of $105.74 million for the current financial year, with estimates ranging from $105.42 million to $106.31 million. For the next financial year, analysts forecast that the company will report sales of $84.27 million, with estimates ranging from $82.42 million to $86.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow CatchMark Timber Trust.

CatchMark Timber Trust (NYSE:CTT) last announced its earnings results on Thursday, November 4th. The financial services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.11. CatchMark Timber Trust had a net margin of 19.08% and a return on equity of 15.68%. During the same quarter in the prior year, the company posted ($0.09) EPS.

Several equities research analysts recently weighed in on the stock. B. Riley downgraded shares of CatchMark Timber Trust from a “buy” rating to a “neutral” rating and cut their target price for the stock from $13.50 to $10.00 in a research note on Friday, October 15th. Raymond James downgraded shares of CatchMark Timber Trust from an “outperform” rating to an “underperform” rating in a research note on Friday, October 15th. Royal Bank of Canada cut their target price on shares of CatchMark Timber Trust from $12.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Monday, October 18th. Citigroup downgraded shares of CatchMark Timber Trust from a “buy” rating to a “neutral” rating in a research report on Friday, October 15th. Finally, Zacks Investment Research downgraded shares of CatchMark Timber Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.85.

Shares of CTT opened at $8.61 on Wednesday. CatchMark Timber Trust has a fifty-two week low of $7.18 and a fifty-two week high of $12.78. The firm’s 50 day moving average price is $8.33 and its 200 day moving average price is $10.23. The company has a market cap of $420.94 million, a P/E ratio of 19.13 and a beta of 1.20. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 2.25.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Tuesday, November 30th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, November 29th. CatchMark Timber Trust’s dividend payout ratio is presently 66.67%.

Several large investors have recently made changes to their positions in the business. William Blair Investment Management LLC grew its position in shares of CatchMark Timber Trust by 47,886.4% in the 3rd quarter. William Blair Investment Management LLC now owns 2,617,656 shares of the financial services provider’s stock valued at $31,072,000 after buying an additional 2,612,201 shares during the last quarter. Ranger Global Real Estate Advisors LLC grew its position in shares of CatchMark Timber Trust by 46.6% in the 3rd quarter. Ranger Global Real Estate Advisors LLC now owns 3,327,365 shares of the financial services provider’s stock valued at $39,496,000 after buying an additional 1,058,117 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new position in shares of CatchMark Timber Trust in the 2nd quarter valued at $4,861,000. Impax Asset Management Group plc grew its position in shares of CatchMark Timber Trust by 27.8% in the 3rd quarter. Impax Asset Management Group plc now owns 1,196,169 shares of the financial services provider’s stock valued at $14,199,000 after buying an additional 260,000 shares during the last quarter. Finally, Real Estate Management Services LLC grew its position in shares of CatchMark Timber Trust by 24.2% in the 4th quarter. Real Estate Management Services LLC now owns 779,400 shares of the financial services provider’s stock valued at $6,789,000 after buying an additional 152,000 shares during the last quarter. 79.16% of the stock is currently owned by institutional investors.

About CatchMark Timber Trust

CatchMark Timber Trust, Inc engages in the ownership, management, acquisition, and disposition of timberlands. It operates through the following business segments: Harvest, Real Estate and Investment Management. The Harvest segment includes wholly-owned timber assets and associated timber sales, other revenues and related expenses.

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