Equities research analysts expect Catchmark Timber Trust Inc (NYSE:CTT) to announce $24.79 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Catchmark Timber Trust’s earnings, with estimates ranging from $22.70 million to $26.75 million. Catchmark Timber Trust reported sales of $22.72 million during the same quarter last year, which would suggest a positive year over year growth rate of 9.1%. The company is expected to issue its next earnings report after the market closes on Thursday, February 14th.
According to Zacks, analysts expect that Catchmark Timber Trust will report full-year sales of $99.71 million for the current financial year, with estimates ranging from $97.60 million to $101.68 million. For the next year, analysts expect that the company will post sales of $106.99 million, with estimates ranging from $105.52 million to $109.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Catchmark Timber Trust.
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CTT has been the subject of several research analyst reports. ValuEngine downgraded Catchmark Timber Trust from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Royal Bank of Canada upgraded Catchmark Timber Trust from a “sector perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research note on Monday, November 5th. They noted that the move was a valuation call. Zacks Investment Research downgraded Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, November 7th. TheStreet downgraded Catchmark Timber Trust from a “c-” rating to a “d” rating in a research note on Tuesday, November 6th. Finally, B. Riley cut their price target on Catchmark Timber Trust to $12.00 and set a “buy” rating for the company in a research note on Wednesday, November 14th. Seven analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of $11.46.
In related news, CFO Brian M. Davis acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, December 6th. The stock was bought at an average cost of $8.16 per share, for a total transaction of $40,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have purchased 23,231 shares of company stock valued at $188,801. 1.20% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. NEXT Financial Group Inc purchased a new position in Catchmark Timber Trust in the 3rd quarter worth approximately $103,000. Wiley BROS. Aintree Capital LLC purchased a new position in Catchmark Timber Trust in the 4th quarter worth approximately $121,000. State of Alaska Department of Revenue purchased a new position in Catchmark Timber Trust in the 3rd quarter worth approximately $179,000. Meeder Asset Management Inc. purchased a new position in Catchmark Timber Trust in the 4th quarter worth approximately $199,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Catchmark Timber Trust in the 3rd quarter worth approximately $204,000. Institutional investors own 82.92% of the company’s stock.
Shares of NYSE CTT traded down $0.13 during trading on Monday, reaching $9.19. The company had a trading volume of 187,018 shares, compared to its average volume of 319,097. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.48. The stock has a market cap of $456.93 million, a P/E ratio of -27.03 and a beta of 1.25. Catchmark Timber Trust has a 12-month low of $6.71 and a 12-month high of $13.73.
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, 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 over 1.6 million acres of timberlands located in Alabama, Florida, Georgia, Louisiana, North Carolina, Oregon, South Carolina, Tennessee and Texas.
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