Raymond James & Associates Sells 85,097 Shares of Catchmark Timber Trust Inc (CTT)

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Raymond James & Associates lowered its position in Catchmark Timber Trust Inc (NYSE:CTT) by 19.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 344,201 shares of the financial services provider’s stock after selling 85,097 shares during the period. Raymond James & Associates owned approximately 0.70% of Catchmark Timber Trust worth $2,444,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MetLife Investment Advisors LLC boosted its position in Catchmark Timber Trust by 47.2% in the third quarter. MetLife Investment Advisors LLC now owns 34,760 shares of the financial services provider’s stock valued at $397,000 after buying an additional 11,140 shares during the last quarter. Jane Street Group LLC purchased a new stake in Catchmark Timber Trust in the third quarter valued at approximately $251,000. Nisa Investment Advisors LLC boosted its position in Catchmark Timber Trust by 830.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 37,200 shares of the financial services provider’s stock valued at $264,000 after buying an additional 33,200 shares during the last quarter. Dalton Greiner Hartman Maher & Co. boosted its position in Catchmark Timber Trust by 36.4% in the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 605,128 shares of the financial services provider’s stock valued at $4,296,000 after buying an additional 161,583 shares during the last quarter. Finally, Crawford Investment Counsel Inc. boosted its position in Catchmark Timber Trust by 7.0% in the third quarter. Crawford Investment Counsel Inc. now owns 245,555 shares of the financial services provider’s stock valued at $2,807,000 after buying an additional 16,080 shares during the last quarter. Hedge funds and other institutional investors own 82.16% of the company’s stock.

Shares of NYSE:CTT opened at $9.74 on Friday. Catchmark Timber Trust Inc has a 12-month low of $6.71 and a 12-month high of $13.29. The company has a market capitalization of $477.09 million, a price-to-earnings ratio of -3.82 and a beta of 1.31. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.49 and a quick ratio of 1.49.

Catchmark Timber Trust (NYSE:CTT) last announced its quarterly earnings results on Friday, February 15th. The financial services provider reported ($0.78) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.07). Catchmark Timber Trust had a negative net margin of 124.68% and a negative return on equity of 30.18%. The company had revenue of $22.93 million during the quarter, compared to analyst estimates of $24.79 million. On average, sell-side analysts anticipate that Catchmark Timber Trust Inc will post -2.02 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 28th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend was Wednesday, February 27th. Catchmark Timber Trust’s payout ratio is presently -21.18%.

A number of brokerages recently commented on CTT. Zacks Investment Research lowered Catchmark Timber Trust from a “hold” rating to a “sell” rating in a research report on Friday, February 22nd. ValuEngine raised Catchmark Timber Trust from a “hold” rating to a “buy” rating in a report on Thursday, January 31st. Royal Bank of Canada boosted their price target on Catchmark Timber Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Tuesday, February 19th. Raymond James set a $11.00 price target on Catchmark Timber Trust and gave the company a “buy” rating in a report on Tuesday, January 8th. Finally, Citigroup raised Catchmark Timber Trust from a “neutral” rating to a “buy” rating in a report on Monday, January 14th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $11.29.

In related news, Director Donald S. Moss purchased 10,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was bought at an average cost of $9.52 per share, with a total value of $95,200.00. Following the completion of the acquisition, the director now owns 57,224 shares of the company’s stock, valued at approximately $544,772.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company’s stock.

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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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Institutional Ownership by Quarter for Catchmark Timber Trust (NYSE:CTT)

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