Securian Asset Management Inc increased its position in shares of Catchmark Timber Trust Inc (NYSE:CTT) by 53.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,700 shares of the financial services provider’s stock after acquiring an additional 28,600 shares during the period. Securian Asset Management Inc’s holdings in Catchmark Timber Trust were worth $934,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CTT. Real Estate Management Services LLC lifted its stake in Catchmark Timber Trust by 51.3% in the 3rd quarter. Real Estate Management Services LLC now owns 475,219 shares of the financial services provider’s stock valued at $5,432,000 after purchasing an additional 161,119 shares during the last quarter. North Star Investment Management Corp. lifted its stake in Catchmark Timber Trust by 54.3% in the 3rd quarter. North Star Investment Management Corp. now owns 169,965 shares of the financial services provider’s stock valued at $1,943,000 after purchasing an additional 59,782 shares during the last quarter. NEXT Financial Group Inc bought a new position in Catchmark Timber Trust in the 3rd quarter valued at approximately $103,000. State of Alaska Department of Revenue bought a new position in Catchmark Timber Trust in the 3rd quarter valued at approximately $179,000. Finally, Covenant Asset Management LLC lifted its stake in Catchmark Timber Trust by 41.5% in the 3rd quarter. Covenant Asset Management LLC now owns 39,348 shares of the financial services provider’s stock valued at $450,000 after purchasing an additional 11,550 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.
Several equities analysts have recently issued reports on the stock. ValuEngine downgraded shares of Catchmark Timber Trust from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Zacks Investment Research raised shares of Catchmark Timber Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $14.13.
Catchmark Timber Trust (NYSE:CTT) last released its quarterly earnings results on Thursday, August 2nd. The financial services provider reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. The firm had revenue of $26.25 million during the quarter, compared to the consensus estimate of $22.84 million. Catchmark Timber Trust had a negative net margin of 15.22% and a negative return on equity of 3.32%. On average, research analysts predict that Catchmark Timber Trust Inc will post -4.36 EPS for the current year.
Catchmark Timber Trust 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, well-timed real estate sales and investment management. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in approximately 1.6 million acres of timberlands located in Alabama, Florida, Georgia, Louisiana, North Carolina, South Carolina, Tennessee and Texas.
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