NYSE:CTT

Stock Analysis Report

Executive Summary

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.

Snowflake

Fundamentals

Second-rate dividend payer and overvalued.


Similar Companies

Share Price & News

How has CatchMark Timber Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

2.7%

CTT

-0.2%

US REITs

1.3%

US Market


1 Year Return

7.6%

CTT

19.9%

US REITs

5.9%

US Market

Return vs Industry: CTT underperformed the US REITs industry which returned 19.9% over the past year.

Return vs Market: CTT exceeded the US Market which returned 5.9% over the past year.


Shareholder returns

CTTIndustryMarket
7 Day2.7%-0.2%1.3%
30 Day2.6%2.0%-1.9%
90 Day7.0%4.2%-1.8%
1 Year14.1%7.6%25.3%19.9%8.3%5.9%
3 Year14.0%-1.7%34.1%17.0%45.6%36.2%
5 Year22.5%-3.8%64.2%29.5%66.1%47.9%

Price Volatility Vs. Market

How volatile is CatchMark Timber Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is CatchMark Timber Trust undervalued compared to its fair value and its price relative to the market?

19.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: CTT ($10.75) is trading below our estimate of fair value ($13.31)

Significantly Undervalued: CTT is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: CTT is unprofitable, so we can't compare its PE Ratio to the REITs industry average.

PE vs Market: CTT is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate CTT's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CTT is overvalued based on its PB Ratio (2.2x) compared to the US REITs industry average (2x).


Next Steps

Future Growth

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

105.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CTT is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: CTT is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: CTT is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: CTT's revenue (5.7% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: CTT's revenue (5.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if CTT's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

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

-75.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CTT is unprofitable, and losses have increased over the past 5 years at a rate of -75.3% per year.

Accelerating Growth: Unable to compare CTT's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CTT is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (17%).


Return on Equity

High ROE: CTT has a negative Return on Equity (-75.78%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: CTT is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: CTT is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is CatchMark Timber Trust's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: CTT has a high level of physical assets or inventory.

Debt Coverage by Assets: CTT's debt is not covered by short term assets (assets are 0x debt).


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.

Stable Cash Runway: CTT has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if CTT has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Financial Institutions Analysis

Asset Level: CTT's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if CTT has a sufficient allowance for bad loans.

Low Risk Liabilities: CTT reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if CTT has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CTT has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if CTT has an appropriate level of bad loans.


Next Steps

Dividend

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

5.02%

Current Dividend Yield


Dividend Yield vs Market

company5.0%marketbottom25%1.5%markettop25%3.8%industryaverage3.7%forecastin3Years5.0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: CTT's dividend (5.02%) is higher than the bottom 25% of dividend payers in the US market (1.47%).

High Dividend: CTT's dividend (5.02%) is in the top 25% of dividend payers in the US market (3.77%)

Stable Dividend: Whilst dividend payments have been stable, CTT has been paying a dividend for less than 10 years.

Growing Dividend: CTT's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (98.8%), CTT's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CTT is forecast to pay a dividend in 3 years whilst incurring a loss, therefore the dividend is not forecast to be well covered.


Next Steps

Management

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

1.4yrs

Average management tenure


CEO

Jerry Barag (60yo)

6yrs

Tenure

US$1,729,632

Compensation

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 Oct ...


CEO Compensation Analysis

Compensation vs. Market: Jerry's total compensation ($USD1.73M) is about average for companies of similar size in the US market ($USD1.83M).

Compensation vs Earnings: Jerry's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

1.4yrs

Average Tenure

50yo

Average Age

Experienced Management: CTT's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.


Board Age and Tenure

5.8yrs

Average Tenure

63yo

Average Age

Experienced Board: CTT's board of directors are considered experienced (5.8 years average tenure).


Insider Trading

Insider Buying: CTT insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$9,71008 Aug 19
Brian Davis
EntityIndividual
Role
President
President & CFO
Shares1,000
Max PriceUS$9.71
BuyUS$31,05910 May 19
Brian Davis
EntityIndividual
Role
President
President & CFO
Shares3,100
Max PriceUS$10.05
BuyUS$95,20011 Mar 19
Donald Moss
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares10,000
Max PriceUS$9.52
BuyUS$39,85018 Dec 18
Henry Zigtema
EntityIndividual
Shares5,000
Max PriceUS$7.97
BuyUS$15,88017 Dec 18
Jerrold Barag
EntityIndividual
Role
Chief Executive Officer
CEO & Director
Shares2,000
Max PriceUS$7.94
BuyUS$39,20013 Dec 18
Todd Reitz
EntityIndividual
Role
Chief Operating Officer
Senior VP of Forest Resources & Principal Operating Officer
Shares5,000
Max PriceUS$7.84
BuyUS$40,20013 Dec 18
Donald Moss
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares5,000
Max PriceUS$8.04
BuyUS$40,20012 Dec 18
Paul Fisher
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares5,000
Max PriceUS$8.04
BuyUS$1,45711 Dec 18
Lesley Solomon
EntityIndividual
Role
Chief Legal Officer
General Counsel & Corporate Secretary
Shares175
Max PriceUS$8.32
BuyUS$40,80006 Dec 18
Brian Davis
EntityIndividual
Role
President
President & CFO
Shares5,000
Max PriceUS$8.16
BuyUS$8,76506 Dec 18
Douglas Rubenstein
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,056
Max PriceUS$8.30
BuyUS$41,85029 Nov 18
Donald Moss
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares5,000
Max PriceUS$8.37
BuyUS$4,83508 Nov 18
Jerrold Barag
EntityIndividual
Role
Chief Executive Officer
CEO & Director
Shares500
Max PriceUS$9.67
BuyUS$48,40008 Nov 18
Paul Fisher
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares5,000
Max PriceUS$9.68

Ownership Breakdown


Management Team

  • Jerry Barag (60yo)

    CEO & Director

    • Tenure: 6yrs
    • Compensation: US$1.73m
  • Lesley Solomon (47yo)

    General Counsel & Corporate Secretary

    • Tenure: 1.1yrs
    • Compensation: US$278.71k
  • Brian Davis (50yo)

    President & CFO

    • Tenure: 0.5yrs
    • Compensation: US$1.07m
  • John Rasor (76yo)

    President of Triple T Timberlands

    • Tenure: 1.4yrs
    • Compensation: US$890.60k
  • Todd Reitz (48yo)

    Senior VP of Forest Resources & Principal Operating Officer

    • Tenure: 1yrs
    • Compensation: US$441.78k
  • Glen Smith

    Chief Accounting Office

    • Tenure: 1.8yrs
  • Ursula Godoy-Arbelaez

    VP & Treasurer

    • Tenure: 1.8yrs

Board Members

  • Paul Fisher (63yo)

    Independent Director

    • Tenure: 3.8yrs
    • Compensation: US$110.00k
  • Jerry Barag (60yo)

    CEO & Director

    • Tenure: 6yrs
    • Compensation: US$1.73m
  • Don Moss (83yo)

    Independent Director

    • Tenure: 13.8yrs
    • Compensation: US$116.00k
  • Mary McBride (63yo)

    Independent Director

    • Tenure: 1.7yrs
    • Compensation: US$121.14k
  • Willis Potts (73yo)

    Independent Chairman of the Board

    • Tenure: 5.9yrs
    • Compensation: US$149.28k
  • Doug Rubenstein (56yo)

    Independent Director

    • Tenure: 5.8yrs
    • Compensation: US$116.00k

Company Information

CatchMark Timber Trust, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: CatchMark Timber Trust, Inc.
  • Ticker: CTT
  • Exchange: NYSE
  • Founded: 2005
  • Industry: Specialized REITs
  • Sector: Real Estate
  • Market Cap: US$526.819m
  • Shares outstanding: 49.01m
  • Website: https://www.catchmark.com

Number of Employees


Location

  • CatchMark Timber Trust, Inc.
  • 5 Concourse Parkway
  • Suite 2650
  • Atlanta
  • Georgia
  • 30328
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CTTNYSE (New York Stock Exchange)YesClass A Common StockUSUSDDec 2013

Biography

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. Concen ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/15 00:31
End of Day Share Price2019/10/14 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.