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CatchMark Timber Trust

NYSE:CTT
Snowflake Description

Slightly overvalued unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CTT
NYSE
$478M
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

CatchMark (NYSE: CTT) seeks to deliver consistent and growing per share cash flow from disciplined acquisitions and superior management of prime timberlands located in high demand U.S. The last earnings update was 24 days ago. More info.


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CTT Share Price and Events
7 Day Returns
-1.7%
NYSE:CTT
0.1%
US REITs
-1.4%
US Market
1 Year Returns
-24.8%
NYSE:CTT
13.9%
US REITs
1.6%
US Market
CTT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CatchMark Timber Trust (CTT) -1.7% -1.5% -1.8% -24.8% -10.4% -26.4%
US REITs 0.1% 2.1% 3.4% 13.9% 11.4% 25.6%
US Market -1.4% -3.9% 0.2% 1.6% 33.2% 38.2%
1 Year Return vs Industry and Market
  • CTT underperformed the REITs industry which returned 13.9% over the past year.
  • CTT underperformed the Market in United States of America which returned 1.6% over the past year.
Price Volatility
CTT
Industry
5yr Volatility vs Market

Value

 Is CatchMark Timber Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of CatchMark Timber Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for CatchMark Timber Trust.

NYSE:CTT Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:CTT
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.529 (1 + (1- 21%) (100.87%))
0.967
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.97
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.967 * 5.96%)
8.49%

Discounted Cash Flow Calculation for NYSE:CTT using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for CatchMark Timber Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

CatchMark Timber Trust is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:CTT DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 8.49%)
2019 33.50 Analyst x2 30.88
2020 34.68 Analyst x2 29.47
2021 36.03 Est @ 3.89% 28.22
2022 37.31 Est @ 3.54% 26.93
2023 38.54 Est @ 3.3% 25.64
2024 39.74 Est @ 3.13% 24.37
2025 40.94 Est @ 3.01% 23.14
2026 42.13 Est @ 2.92% 21.95
2027 43.34 Est @ 2.87% 20.81
2028 44.57 Est @ 2.83% 19.73
Present value of next 10 years cash flows $251.13
NYSE:CTT DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $44.57 × (1 + 2.73%) ÷ (8.49% – 2.73%)
$794.61
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $794.61 ÷ (1 + 8.49%)10
$351.71
NYSE:CTT Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $251.13 + $351.71
$602.84
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $602.84 / 49.08
$12.28
NYSE:CTT Discount to Share Price
Calculation Result
Value per share (USD) From above. $12.28
Current discount Discount to share price of $9.74
= -1 x ($9.74 - $12.28) / $12.28
20.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price CatchMark Timber Trust is available for.
Intrinsic value
21%
Share price is $9.74 vs Future cash flow value of $12.28
Current Discount Checks
For CatchMark Timber Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • CatchMark Timber Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • CatchMark Timber Trust's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for CatchMark Timber Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CatchMark Timber Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:CTT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-3.03
NYSE:CTT Share Price ** NYSE (2019-05-24) in USD $9.74
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.61x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 17.44x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of CatchMark Timber Trust.

NYSE:CTT PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CTT Share Price ÷ EPS (both in USD)

= 9.74 ÷ -3.03

-3.21x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CatchMark Timber Trust is loss making, we can't compare its value to the US REITs industry average.
  • CatchMark Timber Trust is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does CatchMark Timber Trust's expected growth come at a high price?
Raw Data
NYSE:CTT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.21x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
95.9%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.41x
United States of America Market PEG Ratio Median Figure of 2,121 Publicly-Listed Companies 1.51x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for CatchMark Timber Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on CatchMark Timber Trust's assets?
Raw Data
NYSE:CTT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $5.71
NYSE:CTT Share Price * NYSE (2019-05-24) in USD $9.74
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.89x
United States of America Market PB Ratio Median Figure of 5,207 Publicly-Listed Companies 1.8x
NYSE:CTT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CTT Share Price ÷ Book Value per Share (both in USD)

= 9.74 ÷ 5.71

1.71x

* Primary Listing of CatchMark Timber Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CatchMark Timber Trust is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess CatchMark Timber Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. CatchMark Timber Trust has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is CatchMark Timber Trust expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
95.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CatchMark Timber Trust expected to grow at an attractive rate?
  • Unable to compare CatchMark Timber Trust's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare CatchMark Timber Trust's earnings growth to the United States of America market average as it is expected to be loss making during the next 1-3 years.
  • CatchMark Timber Trust's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:CTT Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:CTT Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 95.9%
NYSE:CTT Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 6.8%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:CTT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:CTT Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31
2020-12-31 114 35 -10 4
2019-12-31 110 35 -101 4
NYSE:CTT Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 97 24 -149
2018-12-31 100 30 -122
2018-09-30 24 31 -89
2018-06-30 95 25 -14
2018-03-31 95 30 -15
2017-12-31 92 27 -14
2017-09-30 89 29 -13
2017-06-30 89 31 -12
2017-03-31 78 24 -12
2016-12-31 82 31 -11
2016-09-30 79 32 -9
2016-06-30 78 35 -8

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • CatchMark Timber Trust is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • CatchMark Timber Trust's revenue is expected to grow by 6.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:CTT Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from CatchMark Timber Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CTT Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 -0.20 -0.11 -0.31 3.00
2019-12-31 -2.06 -2.00 -2.11 3.00
NYSE:CTT Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -3.03
2018-12-31 -2.55
2018-09-30 -1.92
2018-06-30 -0.32
2018-03-31 -0.36
2017-12-31 -0.34
2017-09-30 -0.35
2017-06-30 -0.32
2017-03-31 -0.32
2016-12-31 -0.29
2016-09-30 -0.24
2016-06-30 -0.22

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if CatchMark Timber Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess CatchMark Timber Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
CatchMark Timber Trust has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has CatchMark Timber Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare CatchMark Timber Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • CatchMark Timber Trust does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare CatchMark Timber Trust's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare CatchMark Timber Trust's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
CatchMark Timber Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from CatchMark Timber Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CTT Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 97.32 -149.02 13.48
2018-12-31 100.49 -122.01 13.09
2018-09-30 24.32 -88.81 13.44
2018-06-30 95.08 -13.96 13.21
2018-03-31 94.83 -14.92 12.76
2017-12-31 92.03 -13.51 12.28
2017-09-30 88.80 -13.43 10.82
2017-06-30 88.54 -12.28 10.79
2017-03-31 77.80 -12.46 10.34
2016-12-31 81.86 -11.07 9.93
2016-09-30 78.53 -9.43 9.69
2016-06-30 77.85 -8.47 9.17
2016-03-31 76.06 -8.16 8.75
2015-12-31 69.12 -8.39 8.40
2015-09-30 72.93 -2.93 7.94
2015-06-30 67.96 -1.75 7.74
2015-03-31 65.69 0.23 7.36
2014-12-31 54.31 0.66 7.42
2014-09-30 40.97 -7.70 9.33
2014-06-30 36.18 -9.56 10.47
2014-03-31 33.53 -11.87 11.51
2013-12-31 32.05 -13.56 11.84
2013-09-30 33.58 -10.08 7.75
2013-06-30 34.66 -10.08 6.00
2013-03-31 43.70 -7.98 4.37
2012-12-31 44.20 -9.24 7.50
2012-09-30 45.43 -9.62 4.13
2012-06-30 45.96 -9.22 4.14

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if CatchMark Timber Trust has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if CatchMark Timber Trust has efficiently used its assets last year compared to the US REITs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if CatchMark Timber Trust improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess CatchMark Timber Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
CatchMark Timber Trust has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is CatchMark Timber Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up CatchMark Timber Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CatchMark Timber Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • CatchMark Timber Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of CatchMark Timber Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from CatchMark Timber Trust Company Filings, last reported 1 month ago.

NYSE:CTT Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 280.03 482.22 4.85
2018-12-31 321.66 475.88 9.26
2018-09-30 373.57 551.93 22.37
2018-06-30 457.73 293.11 18.09
2018-03-31 463.99 263.41 13.03
2017-12-31 402.38 330.65 10.74
2017-09-30 356.61 333.87 14.09
2017-06-30 365.68 333.57 19.76
2017-03-31 372.76 322.28 10.51
2016-12-31 381.07 321.64 11.74
2016-09-30 385.80 297.74 13.82
2016-06-30 393.49 299.05 15.62
2016-03-31 401.95 196.21 14.31
2015-12-31 411.04 182.47 8.03
2015-09-30 419.92 139.85 11.37
2015-06-30 432.42 138.55 14.20
2015-03-31 438.24 133.75 20.55
2014-12-31 444.69 115.03 17.37
2014-09-30 448.22 0.00 45.96
2014-06-30 290.23 118.49 8.50
2014-03-31 296.52 34.00 3.44
2013-12-31 279.93 52.16 8.88
2013-09-30 203.69 132.36 11.62
2013-06-30 206.80 132.36 14.22
2013-03-31 207.97 132.95 10.02
2012-12-31 210.09 133.17 11.22
2012-09-30 213.41 133.31 11.60
2012-06-30 216.12 118.92 18.31
  • CatchMark Timber Trust's level of debt (172.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (11.8% vs 172.2% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • CatchMark Timber Trust has less than a year of cash runway based on current free cash flow.
  • CatchMark Timber Trust has less than a year of cash runway if free cash flow continues to reduce at historical rates of -15.8% each year.
X
Financial health checks
We assess CatchMark Timber Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. CatchMark Timber Trust has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is CatchMark Timber Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.54%
Current annual income from CatchMark Timber Trust dividends. Estimated to be 5.54% next year.
If you bought $2,000 of CatchMark Timber Trust shares you are expected to receive $111 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • CatchMark Timber Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • CatchMark Timber Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.75%).
Upcoming dividend payment

Purchase CatchMark Timber Trust before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:CTT Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2007 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:CTT Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.54 1.00
2020-12-31 0.54 6.00
2019-12-31 0.54 6.00
NYSE:CTT Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-02 0.540 5.438
2019-03-01 0.540 5.525
2019-02-14 0.540 5.580
2018-11-01 0.540 6.436
2018-08-02 0.540 4.841
2018-05-03 0.540 4.216
2018-03-01 0.540 4.188
2018-02-15 0.540 4.169
2017-08-03 0.540 4.306
2017-02-16 0.540 4.750
2016-11-03 0.540 4.958
2016-08-08 0.540 4.754
2016-05-05 0.540 4.692
2016-02-18 0.500 4.618
2015-11-02 0.500 4.571
2015-08-03 0.500 4.757
2015-02-20 0.500 4.291
2014-11-13 0.500 4.417
2014-06-02 0.500 4.179
2013-12-19 0.440 3.258

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, CatchMark Timber Trust has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but CatchMark Timber Trust only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of CatchMark Timber Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.9x coverage).
Future Payout to shareholders
  • The company is expected to pay a dividend in 3 years whilst incurring a loss, therefore the dividend is not expected to be well covered.
X
Income/ dividend checks
We assess CatchMark Timber Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can CatchMark Timber Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CatchMark Timber Trust has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of CatchMark Timber Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jerry Barag
COMPENSATION $1,729,632
AGE 59
TENURE AS CEO 5.6 years
CEO Bio

Mr. Jerrold Barag, also known as Jerry, has been the Chief Executive Officer and has been its Director since December 2013. Mr. Barag served as President of CatchMark Timber Trust, Inc. (“Trust”) since October 2013. Mr. Barag has over 30 years of real estate, timberland and investment experience, including expertise in acquisitions, divestitures, asset management, property management and financing. Mr. Barag served as Trust’s Consultant from August 2013 to October 2013. Since September 2011, Mr. Barag has served as a Principal with Mr. Rasor of TimberStar Advisors, an Atlanta-based timberland investment consulting firm, where he specialized in acquiring and managing timberlands in the United States. From 2004 to September 2011, he served as Managing Director of TimberStar Operating Partnership, a timberland investment joint venture among himself, Mr. Rasor, iStar Financial, Inc. and other institutional investors. From 2003 to 2004, he served as Chief Investment Officer of TimberVest, LLC, or TimberVest, an investment manager specializing in timberland investment planning. Prior to joining TimberVest, Mr. Barag served as Chief Investment Officer for Lend Lease. Mr. Barag received his Bachelor of Science from The University of Pennsylvania, Wharton School.

CEO Compensation
  • Jerry's compensation has increased whilst company is loss making.
  • Jerry's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the CatchMark Timber Trust management team in years:

1
Average Tenure
49
Average Age
  • The average tenure for the CatchMark Timber Trust management team is less than 2 years, this suggests a new team.
Management Team

Jerry Barag

TITLE
CEO & Director
COMPENSATION
$2M
AGE
59
TENURE
5.6 yrs

Brian Davis

TITLE
President & CFO
COMPENSATION
$1M
AGE
49
TENURE
0.1 yrs

Todd Reitz

TITLE
Senior VP of Forest Resources & Principal Operating Officer
COMPENSATION
$442K
AGE
47
TENURE
0.6 yrs

Lesley Solomon

TITLE
General Counsel & Corporate Secretary
COMPENSATION
$476K
AGE
46
TENURE
0.7 yrs

John Rasor

TITLE
President of Triple T Timberlands
COMPENSATION
$891K
AGE
75
TENURE
1 yrs

Glen Smith

TITLE
Chief Accounting Office
TENURE
1.3 yrs

Ursula Godoy-Arbelaez

TITLE
VP & Treasurer
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the CatchMark Timber Trust board of directors in years:

5.4
Average Tenure
62
Average Age
  • The tenure for the CatchMark Timber Trust board of directors is about average.
Board of Directors

Willis Potts

TITLE
Chairman of the Board
COMPENSATION
$149K
AGE
72
TENURE
5.5 yrs

Jerry Barag

TITLE
CEO & Director
COMPENSATION
$2M
AGE
59
TENURE
5.4 yrs

Don Moss

TITLE
Independent Director
COMPENSATION
$116K
AGE
82
TENURE
13.3 yrs

Henry Zigtema

TITLE
Independent Director
COMPENSATION
$119K
AGE
66
TENURE
6.7 yrs

Doug Rubenstein

TITLE
Independent Director
COMPENSATION
$116K
AGE
55
TENURE
5.4 yrs

Paul Fisher

TITLE
Independent Director
COMPENSATION
$110K
AGE
62
TENURE
3.3 yrs

Mary McBride

TITLE
Independent Director
COMPENSATION
$121K
AGE
62
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by CatchMark Timber Trust insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
10. May 19 Buy Brian Davis Individual 07. May 19 08. May 19 3,100 $10.05 $31,059
11. Mar 19 Buy Donald Moss Individual 08. Mar 19 08. Mar 19 10,000 $9.52 $95,200
18. Dec 18 Buy Henry Zigtema Individual 14. Dec 18 14. Dec 18 5,000 $7.97 $39,850
17. Dec 18 Buy Jerrold Barag Individual 14. Dec 18 14. Dec 18 2,000 $7.94 $15,880
13. Dec 18 Buy Todd Reitz Individual 13. Dec 18 13. Dec 18 5,000 $7.84 $39,200
13. Dec 18 Buy Donald Moss Individual 12. Dec 18 12. Dec 18 5,000 $8.04 $40,200
12. Dec 18 Buy Paul Fisher Individual 12. Dec 18 12. Dec 18 5,000 $8.04 $40,200
11. Dec 18 Buy Lesley Solomon Individual 06. Dec 18 06. Dec 18 175 $8.32 $1,457
06. Dec 18 Buy Brian Davis Individual 06. Dec 18 06. Dec 18 5,000 $8.16 $40,800
06. Dec 18 Buy Douglas Rubenstein Individual 03. Dec 18 03. Dec 18 1,056 $8.30 $8,765
29. Nov 18 Buy Donald Moss Individual 28. Nov 18 28. Nov 18 5,000 $8.37 $41,850
08. Nov 18 Buy Jerrold Barag Individual 06. Nov 18 06. Nov 18 500 $9.67 $4,835
08. Nov 18 Buy Paul Fisher Individual 06. Nov 18 06. Nov 18 5,000 $9.68 $48,400
03. Oct 18 Buy Northern Trust Group Limited Company 02. Oct 18 02. Oct 18 101 $14.44 $1,459
01. Oct 18 Buy Northern Trust Group Limited Company 28. Sep 18 28. Sep 18 1,736 $11.43 $19,842
24. Sep 18 Sell BMO Global Asset Management Company 21. Sep 18 21. Sep 18 -6 $11.85 $-71
24. Sep 18 Sell Bank of America Corporation, Asset Management Arm Company 21. Sep 18 21. Sep 18 -6,799 $11.90 $-80,675
24. Sep 18 Buy Bank of America Corporation, Asset Management Arm Company 21. Sep 18 21. Sep 18 21,090 $11.99 $250,121
24. Sep 18 Sell State Street Global Advisors, Inc. Company 21. Sep 18 21. Sep 18 -500 $11.80 $-5,900
24. Sep 18 Buy State Street Global Advisors, Inc. Company 21. Sep 18 21. Sep 18 232 $11.80 $2,738
24. Sep 18 Sell BlackRock, Inc. Company 21. Sep 18 21. Sep 18 -7,953 $11.80 $-93,845
24. Sep 18 Buy BlackRock, Inc. Company 21. Sep 18 21. Sep 18 210,445 $11.87 $2,488,279
24. Sep 18 Sell Northern Trust Group Limited Company 21. Sep 18 21. Sep 18 -425 $11.80 $-5,015
21. Sep 18 Sell Bank of America Corporation, Asset Management Arm Company 20. Sep 18 20. Sep 18 -1,699 $11.91 $-20,188
21. Sep 18 Buy Bank of America Corporation, Asset Management Arm Company 20. Sep 18 20. Sep 18 7,125 $11.93 $84,288
12. Sep 18 Sell Bank of America Corporation, Asset Management Arm Company 11. Sep 18 11. Sep 18 -3,797 $12.11 $-45,518
12. Sep 18 Buy Bank of America Corporation, Asset Management Arm Company 11. Sep 18 11. Sep 18 1,741 $12.11 $20,985
21. Sep 18 Buy BlackRock, Inc. Company 20. Sep 18 20. Sep 18 14,714 $11.87 $174,642
21. Sep 18 Buy BMO Global Asset Management Company 20. Sep 18 20. Sep 18 34 $11.74 $399
21. Sep 18 Buy Northern Trust Group Limited Company 20. Sep 18 20. Sep 18 202 $11.88 $2,400
20. Sep 18 Buy Bank of America Corporation, Asset Management Arm Company 19. Sep 18 19. Sep 18 40,026 $11.89 $473,241
20. Sep 18 Buy BlackRock, Inc. Company 19. Sep 18 19. Sep 18 11,410 $11.84 $134,997
19. Sep 18 Buy Northern Trust Group Limited Company 18. Sep 18 18. Sep 18 871 $11.83 $10,304
19. Sep 18 Sell BlackRock, Inc. Company 18. Sep 18 18. Sep 18 -2,173 $11.84 $-25,735
19. Sep 18 Sell State Street Global Advisors, Inc. Company 18. Sep 18 18. Sep 18 -1,300 $11.83 $-15,379
19. Sep 18 Buy BrightSphere Investment Group plc Company 10. Sep 18 14. Sep 18 465 $12.18 $5,638
19. Sep 18 Sell Bank of America Corporation, Asset Management Arm Company 18. Sep 18 18. Sep 18 -1,896 $11.86 $-22,485
19. Sep 18 Buy Bank of America Corporation, Asset Management Arm Company 18. Sep 18 18. Sep 18 32,685 $11.89 $387,370
18. Sep 18 Sell Bank of America Corporation, Asset Management Arm Company 17. Sep 18 17. Sep 18 -917 $11.98 $-10,841
18. Sep 18 Buy Bank of America Corporation, Asset Management Arm Company 17. Sep 18 17. Sep 18 825 $12.00 $9,793
18. Sep 18 Sell BlackRock, Inc. Company 17. Sep 18 17. Sep 18 -248 $11.83 $-2,934
17. Sep 18 Sell BMO Global Asset Management Company 14. Sep 18 14. Sep 18 -5 $11.99 $-60
17. Sep 18 Sell BlackRock, Inc. Company 14. Sep 18 14. Sep 18 -124 $11.98 $-1,486
17. Sep 18 Sell Bank of America Corporation, Asset Management Arm Company 14. Sep 18 14. Sep 18 -499 $12.01 $-5,993
17. Sep 18 Buy Bank of America Corporation, Asset Management Arm Company 14. Sep 18 14. Sep 18 84 $12.06 $1,012
14. Sep 18 Buy BlackRock, Inc. Company 13. Sep 18 13. Sep 18 637 $12.09 $7,701
14. Sep 18 Sell Bank of America Corporation, Asset Management Arm Company 13. Sep 18 13. Sep 18 -2,196 $12.09 $-26,461
14. Sep 18 Buy Bank of America Corporation, Asset Management Arm Company 13. Sep 18 13. Sep 18 238 $12.04 $2,864
13. Sep 18 Buy BMO Global Asset Management Company 12. Sep 18 12. Sep 18 5,484 $11.99 $65,759
12. Sep 18 Buy State Street Global Advisors, Inc. Company 11. Sep 18 11. Sep 18 10,000 $12.00 $119,997
13. Sep 18 Sell Bank of America Corporation, Asset Management Arm Company 12. Sep 18 12. Sep 18 -582 $11.96 $-6,957
13. Sep 18 Buy Bank of America Corporation, Asset Management Arm Company 12. Sep 18 12. Sep 18 4,873 $11.98 $58,362
11. Sep 18 Sell State Street Global Advisors, Inc. Company 10. Sep 18 10. Sep 18 -928 $12.03 $-11,164
11. Sep 18 Sell Bank of America Corporation, Asset Management Arm Company 10. Sep 18 10. Sep 18 -314 $12.14 $-3,813
11. Sep 18 Buy Bank of America Corporation, Asset Management Arm Company 10. Sep 18 10. Sep 18 1,866 $12.15 $22,672
10. Sep 18 Sell Bank of America Corporation, Asset Management Arm Company 07. Sep 18 07. Sep 18 -1,617 $12.37 $-19,800
10. Sep 18 Buy Bank of America Corporation, Asset Management Arm Company 07. Sep 18 07. Sep 18 2,162 $12.37 $26,691
10. Sep 18 Buy BlackRock, Inc. Company 07. Sep 18 07. Sep 18 7,103 $12.22 $86,799
10. Sep 18 Buy Northern Trust Group Limited Company 07. Sep 18 07. Sep 18 954 $12.22 $11,658
07. Sep 18 Sell BlackRock, Inc. Company 06. Sep 18 06. Sep 18 -1,416 $12.36 $-17,508
X
Management checks
We assess CatchMark Timber Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. CatchMark Timber Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

How Should You Analyze REIT Stock CatchMark Timber Trust, Inc. (NYSE:CTT)?

CatchMark Timber Trust, Inc. … See our latest analysis for CatchMark Timber Trust A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent. … Next Steps: As a REIT, CatchMark Timber Trust offers some unique characteristics which could help diversify your portfolio.

Simply Wall St -

Can We See Significant Institutional Ownership On The CatchMark Timber Trust, Inc. (NYSE:CTT) Share Register?

The big shareholder groups in CatchMark Timber Trust, Inc. … We also tend to see lower insider ownership in companies that were previously publicly owned. … Taking a look at our data on the ownership groups (below), it's seems that

Simply Wall St -

CatchMark Timber Trust, Inc. (NYSE:CTT): What Does Its Beta Value Mean For Your Portfolio?

(NYSE:CTT), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Why CatchMark Timber Trust, Inc. (NYSE:CTT) Could Be Worth Watching

received a lot of attention from a substantial price increase on the NYSE over the last few months. … With many analysts covering the stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Let’s examine CatchMark Timber Trust’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

Our Take On CatchMark Timber Trust, Inc.'s (NYSE:CTT) CEO Salary

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Jerry Barag's Compensation Compare With Similar Sized Companies. … has a market cap of US$477m, and is paying total annual CEO compensation of US$1.5m.

Simply Wall St -

Imagine Owning CatchMark Timber Trust And Wondering If The 27% Share Price Slide Is Justified

With zero revenue generated over twelve months, we CatchMark Timber Trust has proved its business plan yet. … We'd posit some have faith that CatchMark Timber Trust will significantly advance the business plan before too long. … CatchMark Timber Trust had net debt of US$477,502,000 when it last reported in December 2018, according to our data.

Simply Wall St -

Investing In Property Through CatchMark Timber Trust, Inc. (NYSE:CTT)

CatchMark Timber Trust, Inc. … real estate investment trust (REIT) based in Atlanta, United States. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company.

Simply Wall St -

Does The CatchMark Timber Trust, Inc. (NYSE:CTT) Share Price Tend To Follow The Market?

(NYSE:CTT), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Why CatchMark Timber Trust Inc (NYSE:CTT) Could Be Worth Watching

CatchMark Timber Trust Inc (NYSE:CTT), which is in the reits business, and is based in United States,. … A question to answer is whether CatchMark Timber Trust's current trading price of $8.57 reflective of the actual value of the? … Let’s take a look at CatchMark Timber Trust’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

How Many CatchMark Timber Trust Inc (NYSE:CTT) Shares Do Institutions Own?

The big shareholder groups in CatchMark Timber Trust Inc (NYSE:CTT) have power over the company. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … CatchMark Timber Trust is not a large company by global standards.

Simply Wall St -

Company Info

Description

CatchMark (NYSE: CTT) seeks to deliver consistent and growing per share cash flow from disciplined acquisitions and superior management of prime timberlands located in high demand U.S. mill markets. Concentrating on maximizing cash flows throughout business cycles, the company strategically harvests its high-quality timberlands to produce durable revenue growth and takes advantage of proximate mill markets, which provide a reliable outlet for merchantable inventory. 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.

Details
Name: CatchMark Timber Trust, Inc.
CTT
Exchange: NYSE
Founded: 2005
$478,067,864
49,082,943
Website: http://www.catchmark.com
Address: CatchMark Timber Trust, Inc.
5 Concourse Parkway,
Suite 2650,
Atlanta,
Georgia, 30328,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CTT Class A Common Stock New York Stock Exchange US USD 12. Dec 2013
Number of employees
Current staff
Staff numbers
25
CatchMark Timber Trust employees.
Industry
Specialized REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/26 00:39
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/10
Last earnings filing: 2019/05/02
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.