Catchmark Timber Trust (NYSE:CTT) Stock Rating Upgraded by Zacks Investment Research

Catchmark Timber Trust (NYSE:CTT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, Zacks.com reports. The brokerage presently has a $13.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.95% from the stock’s current price.

According to Zacks, “CatchMark Timber Trust Inc. is a real estate investment trust. The Company is involved in the ownership, management, acquisition and disposition of timberlands primarily in the United States. CatchMark Timber Trust Inc. is based in Norcross, Georgia. “

Several other research firms also recently weighed in on CTT. ValuEngine downgraded shares of Catchmark Timber Trust from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Royal Bank of Canada downgraded shares of Catchmark Timber Trust from an “outperform” rating to a “sector perform” rating and set a $12.00 target price for the company. in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $12.00.

Shares of NYSE CTT traded down $0.12 during midday trading on Friday, reaching $11.51. 232,100 shares of the stock were exchanged, compared to its average volume of 217,820. The company has a 50 day simple moving average of $11.62 and a 200 day simple moving average of $10.58. The stock has a market capitalization of $569.99 million, a P/E ratio of -4.51 and a beta of 1.26. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.90 and a current ratio of 0.90. Catchmark Timber Trust has a twelve month low of $6.71 and a twelve month high of $12.54.

Catchmark Timber Trust (NYSE:CTT) last announced its quarterly earnings results on Friday, November 1st. The financial services provider reported ($0.42) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.55) by $0.13. The business had revenue of $26.38 million during the quarter, compared to the consensus estimate of $29.23 million. Catchmark Timber Trust had a negative net margin of 119.09% and a negative return on equity of 48.74%. On average, research analysts expect that Catchmark Timber Trust will post -2.05 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada acquired a new stake in Catchmark Timber Trust in the 2nd quarter valued at approximately $64,000. OneAscent Financial Services LLC acquired a new position in shares of Catchmark Timber Trust in the second quarter worth $110,000. MML Investors Services LLC grew its stake in shares of Catchmark Timber Trust by 22.7% in the second quarter. MML Investors Services LLC now owns 15,014 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 2,777 shares in the last quarter. Advisor Group Inc. grew its stake in shares of Catchmark Timber Trust by 76.4% in the second quarter. Advisor Group Inc. now owns 21,564 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 9,337 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Catchmark Timber Trust in the second quarter worth $268,000. Hedge funds and other institutional investors own 81.88% of the company’s stock.

Catchmark Timber Trust Company Profile

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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