May 24, 2017 12:29 AM ET

Equity Real Estate Investment Trusts (REITs)

Company Overview of CatchMark Timber Trust, Inc.

Company Overview

CatchMark Timber Trust, 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. CatchMark Timber Trust, Inc...

5 Concourse Parkway

Suite 2325

Atlanta, GA 30328

United States

Founded in 2005

17 Employees

Phone:

855-858-9794

Fax:

855-865-8223

Key Executives for CatchMark Timber Trust, Inc.

Chief Executive Officer, President and Director
Age: 57
Total Annual Compensation: $500.0K
Chief Financial Officer, Senior Vice President, Treasurer and Assistant Secretary
Age: 47
Total Annual Compensation: $350.0K
Chief Operating Officer, Company Secretary and Director
Age: 73
Total Annual Compensation: $350.0K
Compensation as of Fiscal Year 2016.

CatchMark Timber Trust, Inc. Key Developments

CatchMark Timber Trust, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017

CatchMark Timber Trust, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenues of $23,125,000 against revenues of $27,181,000 a year ago. Operating income was $567,000 against operating income of $670,000 a year ago. Net loss was $1,978,000 against net loss of $587,000 a year ago. Net loss per share - basic and diluted was $0.05 against net loss per share - basic and diluted of $0.02 a year ago. Net cash provided by operating activities was $8,306,000 against net cash provided by operating activities of $14,770,000 a year ago. Capital expenditures (excluding timberland acquisitions) was $2,195,000 against capital expenditures (excluding timberland acquisitions) of $737,000 a year ago. Adjusted ebitda was $10,614,000 against adjusted ebitda of $16,096,000 a year ago.

Catchmark Timber Trust, Inc. Declares Dividend, Payable on June 16, 2017

CatchMark Timber Trust, Inc. announced a dividend of $0.135 per share to stockholders of record on May 31, 2017 payable on June 16, 2017.

CatchMark Mulls Acquisitions

CatchMark Timber Trust, Inc. (NYSE:CTT) is seeking acquisitions. Jerry Barag, CatchMark's President and Chief Executive Officer of CatchMark, "As of March 31, 2017, CatchMark had $174.3 million available under our credit facilities to help fund future growth and acquisitions and fund share repurchases, as well as $7.7 million of cash on hand. Our investment strategy funds acquisition with nondilutive capital and enhances our ability to take advantage of the favorable acquisition market. We repurchased $1 million of shares during the quarter at an average price of $10.60 under the $30 million stock repurchase program approved by the board in August, 2015. At the end of the quarter, we have an additional $19.8 million available to deploy under the program.”

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 26, 2017
A Portfolio of 11,031 Acres of High-Quality Commercial Timberlands Located in North Georgia
Merger/Acquisition
November 3, 2016
6,300 Acres of Timberland in Alabama, Georgia, Florida and Texas
 

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