In a report issued on February 11, Dave Rodgers from Robert W. Baird maintained a Hold rating on CatchMark Timber (CTT – Research Report), with a price target of $9.00. The company’s shares closed last Tuesday at $8.06, close to its 52-week low of $7.19.
According to TipRanks.com, Rodgers is a 4-star analyst with an average return of 7.7% and a 62.1% success rate. Rodgers covers the Financial sector, focusing on stocks such as Corporate Office Properties, Franklin Street Properties, and Hudson Pacific Properties.
CatchMark Timber has an analyst consensus of Hold, with a price target consensus of $8.67, which is an 8.9% upside from current levels. In a report issued on February 10, RBC Capital also maintained a Hold rating on the stock with a $8.00 price target.
Based on CatchMark Timber’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $22.07 million and net profit of $23.25 million. In comparison, last year the company earned revenue of $24.61 million and had a GAAP net loss of $4.15 million.
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CatchMark Timber Trust, Inc. engages in the ownership, management, acquisition, and disposition of timberlands. It operates through the following business segments: Harvest, Real Estate and Investment Management. The Harvest segment includes wholly-owned timber assets and associated timber sales, other revenues and related expenses. The Real Estate segment includes timberland sales, cost of timberland sales and large dispositions. The Investment Management segment includes investments in and income/loss from unconsolidated joint ventures and asset management fee revenues earned for management of these joint ventures. The company was founded on September 27, 2005 and is headquartered in Atlanta, GA.
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