Shares of Catchmark Timber Trust Inc (NYSE:CTT) have received a consensus rating of “Buy” from the eight brokerages that are presently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $11.65.
CTT has been the subject of several recent research reports. Citigroup upgraded Catchmark Timber Trust from a “neutral” rating to a “buy” rating in a research report on Monday, January 14th. ValuEngine downgraded Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Zacks Investment Research downgraded Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. B. Riley reduced their target price on Catchmark Timber Trust to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, November 14th. Finally, TheStreet cut Catchmark Timber Trust from a “c-” rating to a “d” rating in a research note on Tuesday, November 6th.
CTT stock traded down $0.17 during midday trading on Thursday, hitting $9.32. The company had a trading volume of 382,741 shares, compared to its average volume of 364,052. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.02 and a current ratio of 1.02. Catchmark Timber Trust has a 52 week low of $6.71 and a 52 week high of $13.73. The company has a market capitalization of $457.42 million, a P/E ratio of -27.41 and a beta of 1.25.
Several institutional investors and hedge funds have recently bought and sold shares of CTT. NEXT Financial Group Inc purchased a new stake in Catchmark Timber Trust in the third quarter worth $103,000. Wiley BROS. Aintree Capital LLC purchased a new stake in Catchmark Timber Trust in the fourth quarter worth $121,000. State of Alaska Department of Revenue purchased a new stake in Catchmark Timber Trust in the third quarter worth $179,000. Meeder Asset Management Inc. purchased a new stake in Catchmark Timber Trust in the fourth quarter worth $199,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Catchmark Timber Trust in the third quarter worth $204,000. 82.92% of the stock is currently owned by hedge funds and other institutional investors.
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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