Wall Street analysts forecast that Catchmark Timber Trust Inc (NYSE:CTT) will post ($3.59) earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Catchmark Timber Trust’s earnings, with the highest EPS estimate coming in at ($3.32) and the lowest estimate coming in at ($4.12). Catchmark Timber Trust reported earnings of ($0.10) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 3,490%. The business is expected to announce its next earnings results on Thursday, November 1st.
On average, analysts expect that Catchmark Timber Trust will report full-year earnings of ($4.36) per share for the current financial year, with EPS estimates ranging from ($4.44) to ($4.27). For the next financial year, analysts anticipate that the firm will report earnings of ($0.14) per share, with EPS estimates ranging from ($0.21) to ($0.10). Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Catchmark Timber Trust.
Catchmark Timber Trust (NYSE:CTT) last released its quarterly earnings data on Thursday, August 2nd. The financial services provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.03. Catchmark Timber Trust had a negative return on equity of 3.32% and a negative net margin of 15.22%. The firm had revenue of $26.25 million during the quarter, compared to the consensus estimate of $22.84 million.
Several analysts recently weighed in on CTT shares. Zacks Investment Research raised Catchmark Timber Trust from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. ValuEngine raised Catchmark Timber Trust from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Catchmark Timber Trust currently has a consensus rating of “Buy” and an average price target of $14.13.
Shares of CTT stock traded down $0.03 during mid-day trading on Friday, hitting $11.85. 2,822 shares of the company’s stock were exchanged, compared to its average volume of 162,931. Catchmark Timber Trust has a fifty-two week low of $11.67 and a fifty-two week high of $13.73. The stock has a market capitalization of $578.10 million, a price-to-earnings ratio of -34.85 and a beta of 0.60. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.64.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Thursday, August 30th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend was Wednesday, August 29th. Catchmark Timber Trust’s dividend payout ratio (DPR) is presently -158.82%.
Several large investors have recently bought and sold shares of CTT. Northern Trust Corp boosted its position in shares of Catchmark Timber Trust by 13.5% during the second quarter. Northern Trust Corp now owns 582,413 shares of the financial services provider’s stock worth $7,414,000 after buying an additional 69,338 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Catchmark Timber Trust by 8.2% during the second quarter. Bank of New York Mellon Corp now owns 309,750 shares of the financial services provider’s stock worth $3,943,000 after buying an additional 23,437 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Catchmark Timber Trust during the second quarter worth approximately $340,000. California Public Employees Retirement System boosted its position in shares of Catchmark Timber Trust by 16.9% during the second quarter. California Public Employees Retirement System now owns 39,761 shares of the financial services provider’s stock worth $506,000 after buying an additional 5,761 shares during the period. Finally, MetLife Investment Advisors LLC boosted its position in shares of Catchmark Timber Trust by 24.3% during the second quarter. MetLife Investment Advisors LLC now owns 23,620 shares of the financial services provider’s stock worth $301,000 after buying an additional 4,618 shares during the period. 78.13% of the stock is owned by institutional investors.
Catchmark Timber Trust Company Profile
CatchMark Timber Trust, Inc (NYSE: CTT) is a self-administered and self-managed, publicly-traded timberland REIT that strives to deliver superior risk-adjusted returns for all stakeholders through disciplined acquisitions, sustainable harvests, well-timed real estate sales and investment management. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in approximately 1.6 million acres of timberlands located in Alabama, Florida, Georgia, Louisiana, North Carolina, South Carolina, Tennessee and Texas.
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