Martingale Asset Management L P lifted its stake in Catchmark Timber Trust Inc (NYSE:CTT) by 17.1% during the 4th quarter, Holdings Channel reports. The fund owned 285,700 shares of the financial services provider’s stock after purchasing an additional 41,739 shares during the quarter. Martingale Asset Management L P’s holdings in Catchmark Timber Trust were worth $3,752,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in shares of Catchmark Timber Trust in the 4th quarter worth approximately $104,000. Stelac Advisory Services LLC acquired a new position in shares of Catchmark Timber Trust in the 3rd quarter worth approximately $106,000. SeaCrest Wealth Management LLC acquired a new position in shares of Catchmark Timber Trust in the 4th quarter worth approximately $117,000. Sowell Financial Services LLC acquired a new position in shares of Catchmark Timber Trust in the 3rd quarter worth approximately $149,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Catchmark Timber Trust in the 4th quarter worth approximately $195,000. Hedge funds and other institutional investors own 73.03% of the company’s stock.
Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Catchmark Timber Trust from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Wednesday, January 10th. Raymond James Financial reaffirmed a “buy” rating on shares of Catchmark Timber Trust in a research note on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Catchmark Timber Trust currently has an average rating of “Hold” and a consensus price target of $13.75.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Wednesday, February 28th will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.13%. The ex-dividend date is Tuesday, February 27th. Catchmark Timber Trust’s payout ratio is currently -163.63%.
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Catchmark Timber Trust Company Profile
CatchMark Timber Trust, Inc is a real estate company investing in timberlands. The Company primarily engages in the ownership, management, acquisition and disposition of timberlands located in the United States. It is focused on investing in timberlands and to manage such assets to provide current income and attractive long-term returns to its stockholders.
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