Analysts expect Catchmark Timber Trust Inc (NYSE:CTT) to report sales of $23.04 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Catchmark Timber Trust’s earnings. The highest sales estimate is $23.97 million and the lowest is $21.25 million. Catchmark Timber Trust reported sales of $18.61 million during the same quarter last year, which indicates a positive year-over-year growth rate of 23.8%. The company is scheduled to issue its next quarterly earnings results on Thursday, November 1st.
On average, analysts expect that Catchmark Timber Trust will report full year sales of $98.18 million for the current year, with estimates ranging from $96.77 million to $99.67 million. For the next fiscal year, analysts expect that the company will report sales of $104.56 million per share, with estimates ranging from $102.29 million to $108.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Catchmark Timber Trust.
Catchmark Timber Trust (NYSE:CTT) last issued its quarterly earnings data on Thursday, August 2nd. The financial services provider reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. Catchmark Timber Trust had a negative net margin of 15.22% and a negative return on equity of 3.32%. The firm had revenue of $26.25 million during the quarter, compared to the consensus estimate of $22.84 million.
A number of research firms have recently weighed in on CTT. Zacks Investment Research upgraded shares of Catchmark Timber Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, June 20th. ValuEngine upgraded shares of Catchmark Timber Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.13.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTT. SG Americas Securities LLC acquired a new stake in shares of Catchmark Timber Trust in the first quarter valued at approximately $104,000. Stelac Advisory Services LLC acquired a new stake in shares of Catchmark Timber Trust in the first quarter valued at approximately $110,000. Stevens Capital Management LP acquired a new stake in shares of Catchmark Timber Trust in the second quarter valued at approximately $129,000. Jane Street Group LLC acquired a new stake in shares of Catchmark Timber Trust in the first quarter valued at approximately $139,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Catchmark Timber Trust during the first quarter valued at approximately $160,000. Institutional investors own 78.13% of the company’s stock.
Shares of NYSE CTT traded up $0.13 during midday trading on Thursday, reaching $12.09. The company’s stock had a trading volume of 231,200 shares, compared to its average volume of 278,110. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.64. Catchmark Timber Trust has a fifty-two week low of $11.76 and a fifty-two week high of $13.73. The company has a market cap of $589.39 million, a price-to-earnings ratio of -35.56 and a beta of 0.60.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Thursday, August 30th will be given a $0.135 dividend. The ex-dividend date of this dividend is Wednesday, August 29th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.47%. Catchmark Timber Trust’s payout ratio is -158.82%.
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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