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CatchMark Timber Trust, Inc. (CTT)

NYSE - Nasdaq Real Time Price. Currency in USD
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10.37-0.15 (-1.43%)
At close: 04:00PM EDT
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  • w
    wiley
    Well that’s a weird day to be down. This pushes the piece below $300/acre. Canadian $.

    What’s wild is $CTT CatchMark is being taken out for $2625/acre. USD.

    Different forests… but you got to wonder. At the very least, CatchMark got a 55% premium. Maybe someone knocks on the door at $27 or $28 here? That’s still implied $450/acre … or less than the going rate of Maine timberland TXs. Weird to be this undervalued. 🤷‍♂️
  • J
    John G
    CatchMark Timber Trust Q3 EPS $0.48 Beats $0.35 Estimate
    4:47 pm ET November 4, 2021 (Benzinga)

    CatchMark Timber Trust (NYSE:CTT) reported quarterly earnings of $0.48 per share which beat the analyst consensus estimate of $0.35 by 37.14 percent. This is a 633.33 percent increase over losses of $(0.09) per share from the same period last year.
  • D
    David
    CEO interview, quite interesting:
    CatchMark went public on the New York Stock Exchange in December 2013 with a very simple strategy of creating a timberland investment company predominately focused on cash flow generation from timber operations. That may sound rather obvious, but it had never been done before, oddly enough. So CatchMark was the first timberland company and still the only one that’s ever actually had an IPO. All of the other companies have been formed out of the disaggregation of an integrated forest product company or the spinoff of land assets from a diversified industrial company. Nobody had ever said, “I want to start a timberland company, and we’re going to go do an IPO.”

    And why that becomes important is it’s a philosophical difference, in that we started more or less with a blank sheet of paper. We looked at where we wanted to buy and own timberland assets for the long term to harvest and sell timber. That’s our primary business and not really the same as the three other companies in the sector, which is down from six or seven companies five years ago."
    https://www.twst.com/interview/interview-with-the-ceo-catchmark-timber-trust-inc-nysectt
  • S
    SteveGbongo
    CATCHMARK ANNOUNCES STRONG SECOND QUARTER 2021 RESULTS, REPORTS SIGNIFICANT PROGRESS ON STRATEGIC INITIATIVES, DECLARES DIVIDEND
    - Recognized net income of $1.8 million, or $0.04 per share, driven primarily by a 24% increase in timber sales revenue.
    - Produced record Adjusted EBITDA of $17.6 million, an 86% increase over prior year quarter.
    - Captured higher U.S. South pulpwood and sawtimber stumpage prices, 25% and 13%, respectively, above prior year quarter at 71% and 19% premiums over market averages.
    - Continued to optimize harvest operations based on the company's business model of owning prime timberlands in leading mill markets, focused on delivered wood sales, supplemented by opportunistic stumpage sales.
    - Executed several significant strategic initiatives to support broader plan to simplify the business, strengthen capital position and position for future growth.
    Bullish
  • J
    Jay
    If I add in debt and back out cash, my math says I am buying southern timberlands for around $2075 per acre at a share price of $8.50 per share. What am I missing? This isn’t bad but isn’t give away prices either. I own CTT but I’m looking at a public south Florida company with citrus and pastureland going fit around $3,500 an acre that might be at least as good of relative value as CTT. I directly own timberland myself so I understand I’m discounting the value of the standing stems but I’d do that anyway if I was buying land directly and sellers would do the same to me. If you understand the hidden value here, please comment. Thanks.
  • P
    Paul
    Cutting their dividend to 30 cents a year, this is why it is dropping.
    Bearish
  • D
    DW
    Hey guys new here I just wet my toes at 1000 for 7.66. I will hold long term and buy more if it dips further.
    I have been waiting for a big pull back in this one and by them cutting the dividend I got it. I am in hopes that this is a safe place to put little money and reinvest the dividend. Bank gives me zero. Wish me luck. As I do you.
  • E
    Eugene
    FPI recently retired convertible shares that payed a decent dividend. It's stock price took a considerable hit. Similar development here. Sort of. Reducing costs and deleveraging to better deploy capital to take advantage of the inflationary trend should have long term benefits. I took a hit with this stock, but I am going to stick with management. With respect to inflation, a trend in motion tends to stay in motion. My take away is management sees opportunity. jmho.
    Bullish
  • t
    too good
    lumber is over $1,000 ....why is this going down?
  • w
    wegotchickensinthebarn
    Look at the bright side. If it keeps falling like it is, the dividend yield will be back up to what it was before it was cut. Of course half of the ice cubes would have melted by then.
  • A
    Adam
    I had it on my watchlist for the whole year since the lumber prices spike. Looks like good moment to buy I think to hold for the better future.
  • J
    Jimmy C
    Five years without a dividend increase and little stock price change makes me feel like shareholders are getting treated poorly. Management needs a better plan to grow shareholder return. Invest with caution or after 20% retracement.
  • T
    Terry
    I have a small position and buy shares under $8. This is a great pure play, I’ll be buying for the next 2 years.
    Bullish
  • j
    jack
    I don't understand this stock. It has a price to book of 3.5. All they own is timber land and trucks and machinery, no high tech value. It' like buying a piece of real estate That is valued at 100,000 and for sale at 100,000 and paying 350,000. I own timber property and if someone was willing to pay me 3.5 times what it's worth, I would absolutely sell it. I would even throw in a couple of trucks. Is there some logical explanation??????
  • S
    ST
    interesting article in Bloomberg "lumber prices soar but logs are dirt cheap". Part of my thesis for buying this stock is that eventually that spread haw to narrow - and I believe narrow in our favor,.
  • B
    Buzz
    This is the most inactive message board of all my stock holdings.
  • E
    Eugene
    Market is acting as though a liquidity crisis could be in our future. Uh oh. Ten year yield is absurdly low and stocks are selling off. The greenback is holding its own, all things considered. No way to tell exactly what will be the cause for the next liquidity crisis - another economic shutdown perhaps - but regardless, there has to be enough money in the system to pay all of the outstanding household, commercial and government debt. I see a Universal Basic Income at some point in the near future if people cannot produce because businesses are shutdown again. This will be in addition to the standard operating procedure of bailing out banks and Wallstreet. Everybody gets bailed out this time I suppose. This will lead to additional inflation, which will likely necessitate price ceilings on certain items, which will lead to scarcity, which will lead to higher inflation, rinse and repeat. Oh, what a mighty web we weave. What does this have to do with timber? Well, there is still a housing shortage and the population is still expected to increase in coming years.
    Bullish
  • E
    Eugene
    Profitability has arrived. Must be some residual selling from those who prefer a higher dividend rate. Likely waited, or still waiting, for price to recover a bit after the fallout from the dividend cut earlier. Recoup some of those losses, I suppose. I expected a little bit better price increase today post an extremely favorable and welcomed announcement, but I am not complaining.
    Bullish
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