CatchMark Timber Trust, Inc. (CTT) Stock Rating Lowered by BidaskClub

CatchMark Timber Trust, Inc. (NYSE:CTT) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Separately, Zacks Investment Research lowered shares of CatchMark Timber Trust from a “buy” rating to a “hold” rating in a research note on Monday, July 10th.

CatchMark Timber Trust (CTT) traded down 1.33% during mid-day trading on Thursday, reaching $11.14. 75,396 shares of the company’s stock traded hands. The company’s market capitalization is $432.49 million. The company has a 50-day moving average of $11.46 and a 200-day moving average of $11.30. CatchMark Timber Trust has a 52-week low of $10.05 and a 52-week high of $12.07.

CatchMark Timber Trust (NYSE:CTT) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.04. The firm had revenue of $26.84 million for the quarter, compared to analyst estimates of $22.87 million. CatchMark Timber Trust had a negative net margin of 13.85% and a negative return on equity of 3.26%. Equities research analysts expect that CatchMark Timber Trust will post ($0.37) EPS for the current year.

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Hedge funds have recently modified their holdings of the stock. State Street Corp increased its stake in shares of CatchMark Timber Trust by 8.7% in the fourth quarter. State Street Corp now owns 658,637 shares of the financial services provider’s stock worth $7,419,000 after buying an additional 52,622 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of CatchMark Timber Trust by 8.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 28,006 shares of the financial services provider’s stock worth $315,000 after buying an additional 2,065 shares during the period. Guggenheim Capital LLC increased its stake in shares of CatchMark Timber Trust by 6.2% in the fourth quarter. Guggenheim Capital LLC now owns 40,027 shares of the financial services provider’s stock worth $450,000 after buying an additional 2,339 shares during the period. 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 during the period. Finally, BLB&B Advisors LLC increased its stake in shares of CatchMark Timber Trust by 12.7% in the first quarter. BLB&B Advisors LLC now owns 24,240 shares of the financial services provider’s stock worth $279,000 after buying an additional 2,740 shares during the period. 69.90% of the stock is owned by hedge funds and other institutional investors.

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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