Brokerages expect Catchmark Timber Trust Inc (NYSE:CTT) to report $23.14 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Catchmark Timber Trust’s earnings, with the lowest sales estimate coming in at $21.89 million and the highest estimate coming in at $23.80 million. Catchmark Timber Trust posted sales of $26.38 million in the same quarter last year, which suggests a negative year over year growth rate of 12.3%. The business is scheduled to report its next earnings report on Thursday, October 29th.
On average, analysts expect that Catchmark Timber Trust will report full year sales of $98.90 million for the current fiscal year, with estimates ranging from $97.88 million to $99.80 million. For the next fiscal year, analysts expect that the business will post sales of $105.17 million, with estimates ranging from $103.60 million to $107.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Catchmark Timber Trust.
Catchmark Timber Trust (NYSE:CTT) last posted its quarterly earnings data on Monday, August 3rd. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). Catchmark Timber Trust had a negative return on equity of 28.72% and a negative net margin of 41.07%.
Several research analysts have recently issued reports on CTT shares. Royal Bank of Canada downgraded shares of Catchmark Timber Trust from an “outperform” rating to a “sector perform” rating and set a $10.00 target price on the stock. in a research note on Tuesday, August 4th. B. Riley reiterated a “buy” rating and issued a $10.00 target price on shares of Catchmark Timber Trust in a research note on Thursday, June 25th. Raymond James reiterated a “buy” rating on shares of Catchmark Timber Trust in a research note on Thursday, August 20th. Zacks Investment Research downgraded shares of Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Citigroup upped their target price on shares of Catchmark Timber Trust from $10.00 to $11.50 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $10.79.
It’s the story of an intrepid 56-year mining veteran and his stalwart belief in the underground riches of a historic gold mining district not far from the original Sin City. He raised the money for drilling…and as this story unfolds…he’s now surrounded on all sides by big-name mining companies.
NYSE:CTT opened at $10.14 on Friday. Catchmark Timber Trust has a one year low of $5.13 and a one year high of $12.54. The company has a debt-to-equity ratio of 3.10, a current ratio of 0.97 and a quick ratio of 0.97. The company’s 50-day simple moving average is $9.73 and its 200 day simple moving average is $8.58. The firm has a market capitalization of $494.97 million, a P/E ratio of -11.52 and a beta of 1.28.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend is Friday, August 28th. Catchmark Timber Trust’s payout ratio is currently -26.34%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Newman Dignan & Sheerar Inc. increased its holdings in shares of Catchmark Timber Trust by 2.6% in the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 49,923 shares of the financial services provider’s stock valued at $499,000 after acquiring an additional 1,255 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Catchmark Timber Trust by 9.1% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,472 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 1,454 shares during the last quarter. Stephens Inc. AR increased its holdings in shares of Catchmark Timber Trust by 14.9% in the 2nd quarter. Stephens Inc. AR now owns 11,933 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 1,544 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Catchmark Timber Trust by 37.6% in the 2nd quarter. Federated Hermes Inc. now owns 6,694 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 1,830 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Catchmark Timber Trust by 2.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 125,110 shares of the financial services provider’s stock worth $1,108,000 after buying an additional 2,617 shares during the last quarter. 81.43% of the stock is owned by hedge funds and other institutional investors.
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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