Pictet Asset Management Ltd. Sells 39,475 Shares of CatchMark Timber Trust, Inc. (CTT)

Pictet Asset Management Ltd. lowered its stake in shares of CatchMark Timber Trust, Inc. (NYSE:CTT) by 2.2% during the second quarter, Holdings Channel reports. The firm owned 1,760,163 shares of the financial services provider’s stock after selling 39,475 shares during the period. Pictet Asset Management Ltd.’s holdings in CatchMark Timber Trust were worth $19,925,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Legal & General Group Plc boosted 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 valued at $120,000 after buying an additional 73 shares during the period. Nine Chapters Capital Management LLC bought a new stake in shares of CatchMark Timber Trust during the first quarter valued at about $121,000. Sei Investments Co. boosted 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 valued at $125,000 after buying an additional 2,626 shares during the period. UBS Asset Management Americas Inc. boosted 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 valued at $153,000 after buying an additional 882 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of CatchMark Timber Trust by 4.1% in the first quarter. Stifel Financial Corp now owns 17,163 shares of the financial services provider’s stock valued at $197,000 after buying an additional 682 shares during the period. 69.90% of the stock is currently owned by institutional investors and hedge funds.

Shares of CatchMark Timber Trust, Inc. (NYSE:CTT) opened at 11.14 on Friday. The stock has a 50 day moving average price of $11.46 and a 200-day moving average price of $11.30. The firm’s market cap is $432.49 million. CatchMark Timber Trust, Inc. has a 52-week low of $10.05 and a 52-week high of $12.07.

CatchMark Timber Trust (NYSE:CTT) last issued its earnings results on Thursday, August 3rd. The financial services provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $26.84 million during the quarter, compared to the consensus estimate of $22.87 million. CatchMark Timber Trust had a negative net margin of 13.85% and a negative return on equity of 3.26%. On average, equities analysts anticipate that CatchMark Timber Trust, Inc. will post ($0.37) EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 30th will be paid a dividend of $0.135 per share. 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 4.85%. CatchMark Timber Trust’s payout ratio is currently -174.19%.

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Several brokerages have issued reports on CTT. Zacks Investment Research cut CatchMark Timber Trust from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub cut CatchMark Timber Trust from a “hold” rating to a “sell” rating in a research report on Thursday.

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.

Want to see what other hedge funds are holding CTT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CatchMark Timber Trust, Inc. (NYSE:CTT).

Institutional Ownership by Quarter for CatchMark Timber Trust (NYSE:CTT)

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