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CatchMark Timber Trust (NYSE: CTT) announced a significant transaction involving its Triple T joint venture, agreeing to sell 301,000 acres of East Texas timberlands for approximately $498 million, or $1,656 per acre. This sale, slated for completion in Q3 2021, aims to reduce leverage and pay down preferred partnership interests. Since its inception in 2018, Triple T has seen a 55% increase in annual revenue and a 16% rise in merchantable tons per acre. CEO Brian M. Davis emphasized the focus on strengthening core timberland portfolio and maximizing shareholder value.
CatchMark Timber Trust (NYSE: CTT) will announce its second quarter 2021 earnings on August 5, 2021, after market close. The company has scheduled a conference call at 10 a.m. ET on August 6, 2021, to discuss the earnings results. Investors can participate via phone or access a live webcast on the company’s website. CatchMark operates approximately 1.5 million acres of timberlands across several states, aiming for consistent cash flow through strategic management and acquisitions.
CatchMark Timber Trust (NYSE: CTT) announced an agreement to sell 18,063 acres of Oregon timberlands, known as the Bandon property, for $100 million in cash, equating to $5,536 per acre, to Roseburg Resources Co. The sale is expected to yield a gain exceeding $20 million in Q3 2021. This transaction will enhance CatchMark's capacity to reinvest in its core U.S. South portfolio. With 70% of its 2021 harvest volume already achieved, CatchMark aims to reach 75-80% by the deal's closure.
CatchMark Timber Trust reported Q1 2021 results with revenues of $27.7 million, up 3% from $27.0 million in Q1 2020. The net loss improved to $0.6 million from a loss of $4.2 million, an 86% reduction. The company declared a cash dividend of $0.135 per share for stockholders of record by May 28, 2021, payable on June 15, 2021. Timber sales revenue increased by 11%, driven by higher pricing in the Pacific Northwest. However, harvest volumes decreased by 12%, aligning with their strategic objectives.
CatchMark Timber Trust (NYSE: CTT) is set to announce its first quarter 2021 earnings on May 6, 2021, after market close. A conference call will be held on May 7, 2021 at 10 a.m. ET to discuss the results. The company focuses on delivering consistent cash flow from timberland management and strategic harvesting to maximize revenue. With interests in 1.5 million acres across several U.S. states, CatchMark aims for durable growth through disciplined acquisitions and management of timberlands.
Ursula Godoy-Arbelaez, CFO of CatchMark Timber Trust (NYSE: CTT), has been named to the 40 Under 40 list by Georgia State University Alumni Association. Recognized for embodying the university's values, Godoy-Arbelaez has played a crucial role at CatchMark since its NYSE listing in 2013 and became CFO in 2020. Her responsibilities include financial management, risk management, and strategic planning. CatchMark specializes in managing timberlands in high-demand markets across the U.S., owning interests in 1.5 million acres of timberland.
CatchMark Timber Trust (NYSE: CTT) announced that CEO Brian M. Davis will present at two upcoming virtual investor conferences. The first conference is the 42nd Annual Institutional Investors Conference by Raymond James on March 1, 2021, at 11:40 am ET. The second is Citi's 2021 Global Property Conference on March 11, 2021, at 9:45 am ET. Both presentations will be accessible on CatchMark's website under the Investor Relations section, emphasizing the company's strategy in timberland management and consistent cash flow growth.
CatchMark Timber Trust (CTT) reported its Q4 and full-year 2020 results, declaring a cash dividend of $0.135 per share, payable on March 15, 2021. The company exceeded its 2020 guidance, achieving revenues of $30.9 million for Q4 and a net loss of $3.0 million, down significantly from 2019's $11.8 million. CatchMark’s performance was bolstered by higher timber sale prices and volumes, particularly in the Pacific Northwest. For 2021, the company anticipates a net loss between $6 million and $10 million, with Adjusted EBITDA between $43 million and $50 million.
CatchMark Timber Trust (NYSE: CTT) reported a total cash dividend distribution of $0.54 per share for 2020. The dividend was paid in four installments of $0.135 each, distributed on March 16, June 15, September 15, and December 15, 2020. All distributions were classified as non-dividend (return of capital), impacting stockholders' tax reporting. The company encourages stockholders to review their Forms 1099-DIV and consult tax advisers for specific treatments.
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