CatchMark: 2Q Earnings Snapshot
ATLANTA (AP) _ CatchMark Timber Trust Inc. (CTT) on Thursday reported a loss of $30.6 million in its second quarter.
On a per-share basis, the Atlanta-based company said it had a loss of 62 cents.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 58 cents per share.
The timberlands real estate investment trust posted revenue of $28.7 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $32.3 million.
CatchMark shares have increased 44% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.20, a fall of 18% in the last 12 months.