ATLANTA (AP) _ CatchMark Timber Trust Inc. (CTT) on Thursday reported a loss of $78.9 million in its third quarter.
The Atlanta-based company said it had a loss of $1.61 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $3.59 per share.
The timberlands real estate investment trust posted revenue of $24.6 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $23 million.
CatchMark shares have fallen 31 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.12, a decline of 30 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CTT at https://www.zacks.com/ap/CTT