Wall Street brokerages expect CatchMark Timber Trust, Inc. (NYSE:CTT) to announce sales of $20.89 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for CatchMark Timber Trust’s earnings, with the highest sales estimate coming in at $21.70 million and the lowest estimate coming in at $20.08 million. CatchMark Timber Trust reported sales of $18.31 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.1%. The firm is expected to report its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that CatchMark Timber Trust will report full-year sales of $20.89 million for the current fiscal year, with estimates ranging from $91.74 million to $93.90 million. For the next fiscal year, analysts forecast that the firm will report sales of $96.40 million per share, with estimates ranging from $94.29 million to $98.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow CatchMark Timber Trust.
CatchMark Timber Trust (NYSE:CTT) last released its quarterly earnings results on Thursday, August 3rd. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, beating 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 business had revenue of $26.84 million for the quarter, compared to analyst estimates of $22.87 million.
Several research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of CatchMark Timber Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. BidaskClub lowered shares of CatchMark Timber Trust from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th.
Several hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc increased its stake in shares of 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 buying an additional 73 shares in the last quarter. Nine Chapters Capital Management LLC purchased a new stake in shares of CatchMark Timber Trust during the first quarter worth $121,000. Sei Investments Co. increased its stake in shares of 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 buying an additional 2,626 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in shares of CatchMark Timber Trust during the second quarter worth $152,000. Finally, UBS Asset Management Americas Inc. increased its stake in shares of CatchMark Timber Trust by 6.9% in 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. Institutional investors and hedge funds own 70.15% of the company’s stock.
Shares of CatchMark Timber Trust (NYSE:CTT) opened at 11.53 on Friday. The stock’s 50 day moving average is $11.44 and its 200-day moving average is $11.37. The firm’s market cap is $447.63 million. CatchMark Timber Trust has a 12-month low of $10.05 and a 12-month high of $12.06.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 30th will be given a $0.135 dividend. The ex-dividend date of this dividend is Monday, August 28th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.68%. CatchMark Timber Trust’s dividend payout ratio is -174.19%.
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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