CatchMark: 4Q Earnings Snapshot
ATLANTA (AP) _ CatchMark Timber Trust Inc. (CTT) on Thursday reported a loss of $38.2 million in its fourth quarter.
The Atlanta-based company said it had a loss of 78 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 71 cents per share.
The timberlands real estate investment trust posted revenue of $22.9 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $24.8 million.
For the year, the company reported that its loss widened to $122 million, or $2.55 per share. Revenue was reported as $97.9 million.
CatchMark shares have increased 32 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.35, a fall of 25 percent in the last 12 months.