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April 28, 2015 1:29 AM ET

Real Estate Investment Trusts (REITs)

Company Overview of CatchMark Timber Trust, Inc.

Company Overview

Wells Timberland REIT, Inc., a real estate investment trust (REIT), focuses on the acquisition of timberland properties in the United States. It intends to acquire timberland properties throughout the timber-producing regions of the United States and, to a lesser extent, in timber-producing regions outside the United States. The company intends to qualify as a REIT under the Internal Revenue Code of 1986. Wells Timberland REIT was founded in September 2005. It was formerly known as Wells Real Estate Investment Trust IV, Inc. and changed its name to Wells Timber Real Estate Investment Trust, Inc. in November 2005 and changed to Wells Timberland REIT, Inc. in 2006. The company is headquartered...

5 Concourse Parkway

Suite 2325

Atlanta, GA 30328

United States

Founded in 2005

13 Employees

Phone:

855-858-9794

Fax:

855-865-8223

Key Executives for CatchMark Timber Trust, Inc.

Chief Executive Officer, President and Director
Age: 55
Total Annual Compensation: $540.0K
Chief Financial Officer, Principal Accounting Officer, Senior Vice President, Treasurer and Assistant Secretary
Age: 45
Total Annual Compensation: $415.0K
Chief Operating Officer, Secretary and Director
Age: 71
Total Annual Compensation: $415.0K
Compensation as of Fiscal Year 2014.

CatchMark Timber Trust, Inc. Key Developments

CatchMark Timber Trust, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Fiscal 2015

CatchMark Timber Trust, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenues of $20.9 million compared to $7.6 million a year ago. Operating income was $3.0 million compared to operating loss of $4.2 million a year ago. Net income available to common stockholders was $2.2 million or $0.05 per basic and diluted share compared to net loss available to common stockholders of $6.2 million or $0.43 per basic and diluted share a year ago. Adjusted EBITDA was $11.1 million compared to $0.8 million a year ago. Net cash provided by operating activities was $7.1 million compared to net cash used in operating activities of $3.6 million a year ago. Capital expenditures (excluding timberland acquisitions) were $0.2 million. Adjusted EBITDA was $11.6 million, a $10.8 million increase from the quarter ended December 31, 2013, primarily due to an $8.7 million increase in revenue from timberland sales, a $2.6 million increase in net timber sales, and a $0.2 million decrease in general and administrative expenses (net of change in stock-based compensation expenses). For the full year, the company reported revenues of $54.3 million compared to $32.0 million a year ago. Operating income was $3.1 million compared to operating loss of $8.6 million a year ago. Net income available to common stockholders was $0.7 million or $0.02 per basic and diluted share compared to net loss available to common stockholders of $13.6 million or $1.03 per basic and diluted share a year ago. Adjusted EBITDA was $23.2 million compared to $3.5 million a year ago. Net cash provided by operating activities was $19.8 million compared to net cash used in operating activities of $1.1 million a year ago. Capital expenditures (excluding timberland acquisitions) were $0.9 million compared to $0.5 million a year ago. Adjusted EBITDA was $23.7 million, a $20.2 million increase from the year-ended December 31, 2013, primarily due to a $7.8 million increase in revenue from timberland sales during 2014, a $10.2 million increase in net timber sales, and a $2.6 million decrease in general and administrative expenses (net of change in stock-based compensation expense). The company provided earnings guidance for the fiscal 2015. The company expects adjusted EBITDA of between $27 million and $31 million up from $23.7 million registered for full year 2014. Harvest volumes are targeted to increase into a range of between 1.7 million and 1.9 million tons, while the harvest volume mix is anticipated to shift to a higher proportion of saw timber (approximately 45%) and a lower proportion of pulpwood (approximately 55%). Planned land sales are expected to total between $11 million and $13 million. The company projects a net loss of between $13 million and $14 million, primarily resulting from non-cash charges related to depletion driven by the higher harvest volumes and change in product mix.

CatchMark Timber Trust, Inc. Declares Quarterly Dividend, Payable on March 16, 2015

CatchMark Timber Trust, Inc. announced that its Board of Directors has declared a quarterly dividend of $0.125 per share for stockholders of record as of March 2, 2015, payable on March 16, 2015.

CatchMark Timber Trust, Inc. Presents at Citl's 2015 Global Property CEO Conference, Mar-03-2015 04:15 PM

CatchMark Timber Trust, Inc. Presents at Citl's 2015 Global Property CEO Conference, Mar-03-2015 04:15 PM. Venue: The Diplomat Resort & Spa, 3555 South Ocean Drive, Hollywood, FL 33019, United States.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 3, 2014
Beauregard Timberlands
Merger/Acquisition
July 7, 2014
Macaslin, Barrow & Henderson LLC, 17,913 Acres of Timberland in Southern Georgia & Northern Florida
Merger/Acquisition
July 7, 2014
Wildwood Timberlands, LLC, 37,663 Acres of Timberland in Middle Georgia
 

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