Short Interest in Catchmark Timber Trust Inc (NYSE:CTT) Declines By 7.6%

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Catchmark Timber Trust Inc (NYSE:CTT) saw a significant decline in short interest in November. As of November 29th, there was short interest totalling 567,200 shares, a decline of 7.6% from the November 14th total of 614,100 shares. Approximately 1.2% of the company’s stock are sold short. Based on an average trading volume of 196,600 shares, the short-interest ratio is currently 2.9 days.

CTT has been the subject of several recent research reports. ValuEngine downgraded shares of Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research 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 research report on Monday, November 4th. Finally, Zacks Investment Research raised shares of Catchmark Timber Trust from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Friday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Catchmark Timber Trust currently has a consensus rating of “Buy” and an average price target of $12.00.

Shares of NYSE:CTT traded down $0.12 during midday trading on Friday, hitting $11.51. 232,181 shares of the company’s stock were exchanged, compared to its average volume of 139,258. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a 50 day moving average price of $11.62 and a 200-day moving average price of $10.58. The company has a market cap of $579.76 million, a PE ratio of -4.51 and a beta of 1.26. Catchmark Timber Trust has a 12 month low of $6.71 and a 12 month high of $12.54.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th were given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date was Monday, November 25th. Catchmark Timber Trust’s payout ratio is -21.18%.

A number of hedge funds have recently modified their holdings of the business. Millennium Management LLC grew its position in Catchmark Timber Trust by 4,165.6% in the 3rd quarter. Millennium Management LLC now owns 503,474 shares of the financial services provider’s stock worth $5,372,000 after purchasing an additional 491,671 shares in the last quarter. Squarepoint Ops LLC grew its position in Catchmark Timber Trust by 39.9% in the 3rd quarter. Squarepoint Ops LLC now owns 101,687 shares of the financial services provider’s stock worth $1,085,000 after purchasing an additional 29,025 shares in the last quarter. Chilton Capital Management LLC grew its position in Catchmark Timber Trust by 9.8% in the 3rd quarter. Chilton Capital Management LLC now owns 781,631 shares of the financial services provider’s stock worth $8,340,000 after purchasing an additional 69,618 shares in the last quarter. Stifel Financial Corp grew its position in Catchmark Timber Trust by 80.6% in the 3rd quarter. Stifel Financial Corp now owns 51,720 shares of the financial services provider’s stock worth $551,000 after purchasing an additional 23,090 shares in the last quarter. Finally, State Street Corp grew its position in Catchmark Timber Trust by 1.5% in the 3rd quarter. State Street Corp now owns 993,963 shares of the financial services provider’s stock worth $10,606,000 after purchasing an additional 15,157 shares in the last quarter. 81.88% of the stock is owned by institutional investors and hedge funds.

About Catchmark Timber Trust

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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