NEXT Financial Group Inc increased its stake in Catchmark Timber Trust Inc (NYSE:CTT) by 21.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,023 shares of the financial services provider’s stock after purchasing an additional 1,976 shares during the quarter. NEXT Financial Group Inc’s holdings in Catchmark Timber Trust were worth $116,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Westwood Holdings Group Inc. bought a new position in Catchmark Timber Trust in the 1st quarter worth $27,000. Lindbrook Capital LLC bought a new position in Catchmark Timber Trust in the 1st quarter worth $28,000. Legal & General Group Plc raised its holdings in Catchmark Timber Trust by 17.5% in the 4th quarter. Legal & General Group Plc now owns 8,907 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 1,328 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Catchmark Timber Trust by 367.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,015 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 7,085 shares during the period. Finally, Corient Capital Partners LLC bought a new position in Catchmark Timber Trust in the 1st quarter worth $102,000. 80.62% of the stock is currently owned by institutional investors.
NYSE:CTT traded down $0.02 on Thursday, reaching $9.71. 12,048 shares of the company’s stock traded hands, compared to its average volume of 187,929. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.30 and a current ratio of 1.30. The stock’s 50-day moving average is $10.18. The stock has a market capitalization of $476.87 million, a price-to-earnings ratio of -3.81 and a beta of 1.25. Catchmark Timber Trust Inc has a 12 month low of $6.71 and a 12 month high of $12.60.
Catchmark Timber Trust (NYSE:CTT) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported ($0.62) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($0.04). The business had revenue of $28.66 million for the quarter, compared to the consensus estimate of $32.30 million. Catchmark Timber Trust had a negative net margin of 180.35% and a negative return on equity of 58.86%. As a group, sell-side analysts expect that Catchmark Timber Trust Inc will post -2.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.135 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.54 dividend on an annualized basis and a yield of 5.56%. Catchmark Timber Trust’s dividend payout ratio is presently -21.18%.
A number of equities research analysts have commented on the company. B. Riley reissued a “buy” rating on shares of Catchmark Timber Trust in a report on Tuesday, May 7th. ValuEngine raised Catchmark Timber Trust from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Finally, Zacks Investment Research cut Catchmark Timber Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Catchmark Timber Trust presently has an average rating of “Buy” and a consensus price target of $10.75.
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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