Catchmark Timber Trust Inc (NYSE:CTT) – B. Riley boosted their Q3 2020 earnings estimates for shares of Catchmark Timber Trust in a report issued on Thursday, June 25th. B. Riley analyst C. Kucera now expects that the financial services provider will post earnings per share of ($0.04) for the quarter, up from their previous estimate of ($0.05). B. Riley has a “Buy” rating and a $10.00 price objective on the stock. B. Riley also issued estimates for Catchmark Timber Trust’s Q4 2020 earnings at ($0.04) EPS, FY2020 earnings at ($0.23) EPS, Q1 2021 earnings at ($0.05) EPS, Q2 2021 earnings at ($0.05) EPS, Q3 2021 earnings at ($0.06) EPS, Q4 2021 earnings at ($0.06) EPS and FY2021 earnings at ($0.22) EPS.
Catchmark Timber Trust (NYSE:CTT) last posted its earnings results on Monday, May 4th. The financial services provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The firm had revenue of $26.97 million during the quarter, compared to analysts’ expectations of $25.97 million. Catchmark Timber Trust had a negative return on equity of 37.69% and a negative net margin of 60.46%.
CTT has been the topic of a number of other reports. ValuEngine upgraded Catchmark Timber Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, March 18th. Zacks Investment Research cut Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Catchmark Timber Trust has an average rating of “Hold” and an average price target of $10.94.
NYSE:CTT opened at $8.74 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 2.79. The company has a market capitalization of $410.41 million, a P/E ratio of -6.38 and a beta of 1.24. Catchmark Timber Trust has a 12 month low of $5.13 and a 12 month high of $12.54. The business’s 50-day moving average is $8.09 and its 200 day moving average is $8.99.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CTT. AXA purchased a new stake in shares of Catchmark Timber Trust in the first quarter valued at approximately $92,000. Advisor Group Holdings Inc. purchased a new stake in shares of Catchmark Timber Trust in the first quarter valued at approximately $391,000. Engineers Gate Manager LP purchased a new stake in shares of Catchmark Timber Trust in the first quarter valued at approximately $117,000. Two Sigma Advisers LP boosted its holdings in shares of Catchmark Timber Trust by 23.8% in the first quarter. Two Sigma Advisers LP now owns 60,300 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 11,600 shares during the period. Finally, Chilton Capital Management LLC boosted its holdings in shares of Catchmark Timber Trust by 7.6% in the first quarter. Chilton Capital Management LLC now owns 832,213 shares of the financial services provider’s stock valued at $6,009,000 after purchasing an additional 58,894 shares during the period. 82.13% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.18%. Catchmark Timber Trust’s dividend payout ratio is -26.34%.
About Catchmark Timber Trust
CatchMark (NYSE: CTT) is a pure play timberland REIT that strives to deliver consistent and predictable per-share cash flow growth through disciplined acquisitions, active management, sustainable harvests and well-timed real estate sales. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in 1.6 million acres* of timberlands located in Alabama, Florida, Georgia, North Carolina, Oregon, South Carolina, Tennessee and Texas.
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