IndexIQ Advisors LLC Trims Stock Position in Catchmark Timber Trust Inc (NYSE:CTT)

IndexIQ Advisors LLC cut its holdings in shares of Catchmark Timber Trust Inc (NYSE:CTT) by 6.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,717 shares of the financial services provider’s stock after selling 1,785 shares during the period. IndexIQ Advisors LLC owned about 0.05% of Catchmark Timber Trust worth $178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of CTT. Rhumbline Advisers grew its position in Catchmark Timber Trust by 8.3% during the 1st quarter. Rhumbline Advisers now owns 94,957 shares of the financial services provider’s stock worth $686,000 after purchasing an additional 7,270 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Catchmark Timber Trust by 62.5% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 40,800 shares of the financial services provider’s stock valued at $295,000 after buying an additional 15,700 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Catchmark Timber Trust by 9.7% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 252,175 shares of the financial services provider’s stock worth $1,821,000 after buying an additional 22,225 shares during the last quarter. Arizona State Retirement System acquired a new stake in Catchmark Timber Trust during the first quarter worth about $83,000. Finally, Beach Investment Counsel Inc. PA grew its holdings in Catchmark Timber Trust by 45.8% during the first quarter. Beach Investment Counsel Inc. PA now owns 17,500 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 5,500 shares during the period. 82.13% of the stock is currently owned by institutional investors.

Shares of CTT stock opened at $8.31 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 2.79. Catchmark Timber Trust Inc has a 12-month low of $5.13 and a 12-month high of $12.54. The business’s 50 day moving average is $7.28 and its two-hundred day moving average is $9.55. The company has a market capitalization of $377.75 million, a P/E ratio of -6.07 and a beta of 1.25.

Catchmark Timber Trust (NYSE:CTT) last announced its earnings results on Monday, May 4th. The financial services provider reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.02). Catchmark Timber Trust had a negative return on equity of 37.69% and a negative net margin of 60.46%. The business had revenue of $26.97 million for the quarter, compared to analyst estimates of $25.97 million. On average, research analysts predict that Catchmark Timber Trust Inc will post -0.23 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date is Thursday, May 28th. Catchmark Timber Trust’s dividend payout ratio is presently -26.34%.

Several research firms have commented on CTT. Zacks Investment Research upgraded Catchmark Timber Trust from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research report on Friday, May 22nd. ValuEngine raised shares of Catchmark Timber Trust from a “hold” rating to a “buy” rating in a report on Wednesday, March 18th. Finally, B. Riley cut their price objective on shares of Catchmark Timber Trust from $13.00 to $10.00 and set a “buy” rating for the company in a report on Friday, May 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $10.63.

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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