ATLANTA (AP) _ CatchMark Timber Trust Inc. (CTT) on Thursday reported a loss of $20.6 million in its third quarter.
On a per-share basis, the Atlanta-based company said it had a loss of 42 cents. Losses, adjusted for non-recurring gains, came to 57 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 55 cents per share.
The timberlands real estate investment trust posted revenue of $26.4 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $29.2 million.
CatchMark shares have climbed 62% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.48, an increase of 30% in the last 12 months.