Zacks Investment Research upgraded shares of CatchMark Timber Trust, Inc. (NYSE:CTT) from a hold rating to a buy rating in a research report sent to investors on Tuesday, November 7th. The firm currently has $14.00 target price on the financial services provider’s stock.
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. “
Several other equities research analysts also recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of CatchMark Timber Trust from $13.50 to $12.50 and set a buy rating for the company in a research report on Monday, October 16th. ValuEngine raised shares of CatchMark Timber Trust from a sell rating to a hold rating in a report on Wednesday, September 20th. Finally, BidaskClub cut shares of CatchMark Timber Trust from a hold rating to a sell rating in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $13.25.
CatchMark Timber Trust (CTT) opened at $13.21 on Tuesday. CatchMark Timber Trust has a 1-year low of $10.10 and a 1-year high of $13.37. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.54 annualized dividend and a yield of 4.09%. CatchMark Timber Trust’s payout ratio is -158.82%.
In related news, Director Paul S. Fisher acquired 2,700 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were purchased at an average price of $12.84 per share, for a total transaction of $34,668.00. Following the completion of the acquisition, the director now owns 14,918 shares of the company’s stock, valued at $191,547.12. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the company. Pax World Management LLC bought a new stake in CatchMark Timber Trust in the 2nd quarter worth about $10,778,000. Bank of America Corp DE lifted its stake in CatchMark Timber Trust by 430.8% in the 1st quarter. Bank of America Corp DE now owns 383,542 shares of the financial services provider’s stock worth $4,418,000 after purchasing an additional 311,282 shares in the last quarter. Real Estate Management Services LLC increased its holdings in shares of CatchMark Timber Trust by 127.9% in the 2nd quarter. Real Estate Management Services LLC now owns 368,000 shares of the financial services provider’s stock worth $4,184,000 after buying an additional 206,500 shares during the last quarter. Pictet Asset Management Ltd. increased its holdings in shares of CatchMark Timber Trust by 10.8% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,949,996 shares of the financial services provider’s stock worth $24,589,000 after buying an additional 189,833 shares during the last quarter. Finally, Zacks Investment Management bought a new position in shares of CatchMark Timber Trust in the 2nd quarter worth $2,131,000. 63.74% of the stock is owned by institutional investors.
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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