September 22, 2014 9:03 PM 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

9 Employees

Phone:

855-858-9794

Key Executives for CatchMark Timber Trust, Inc.

Chief Executive Officer
Age: 55
Total Annual Compensation: $92.8K
Chief Financial Officer
Age: 45
Total Annual Compensation: $56.3K
Chief Operating Officer
Age: 71
Total Annual Compensation: $89.1K
Compensation as of Fiscal Year 2013.

CatchMark Timber Trust, Inc. Key Developments

CatchMark Timber Trust, Inc. Presents at UBS 2014 Global Paper & Forest Conference, Sep-11-2014 02:45 PM

CatchMark Timber Trust, Inc. Presents at UBS 2014 Global Paper & Forest Conference, Sep-11-2014 02:45 PM. Venue: New York, New York, United States. Speakers: Jerry Barag, Chief Executive Officer, President and Director.

CatchMark Timber Trust, Inc. Raises Dividend Payable on September 15, 2014

CatchMark Timber Trust, Inc. raised the dividend payout by 14% from $0.11 per share to $0.125 per share to stockholders of record on August 29, 2014, payable on September 15, 2014.

CatchMark Timber Trust, Inc. Reports Operating and Earnings Results for the Second Quarter and Earnings Results for the Six Months Ended June 30, 2014

CatchMark Timber Trust, Inc. reported operating and earnings results for the second quarter and earnings results for the six months ended June 30, 2014. For the quarter, total revenues increased 29% to $11.9 million compared to second quarter 2013 due to a 40% increase in gross timber sales revenue, slightly offset by a decrease in timberland sales revenue of $0.3 million. Approximately 25% of the increase in timber sales revenue was generated from newly acquired properties while 15% was generated from the legacy Mahrt Timberland. Improvements at the Mahrt Timberland resulted from a revised business strategy to increase harvest volumes, as well as from increases in pricing due to improved markets dynamics and wet weather conditions in the region. Net loss improved to approximately $0.3 million compared to a net loss of approximately $2.6 million for the three months ended June 30, 2013. Adjusted EBITDA was $5.0 million, an increase of approximately $3.4 million compared to $1.56 million for the three months ended June 30, 2013, primarily due to a $2.5 million increase in net timber sales and a $1.4 million decrease in general and administrative expenses, partially offset by a $0.2 million decrease in net revenue from timberland sales and a $0.2 million increase in forestry management expenses. For the six months, revenues increased to $20.8 million from $16.6 million for the six months ended June 30, 2013 primarily due to an increase in timber sales revenue of $4.9 million, offset by a decrease in timberland sales revenue of $0.8 million. Net loss decreased to approximately $0.7 million from approximately $4.6 million for the six months ended June 30, 2013 as a result of a $3.2 million increase in operating income and a $0.6 million decrease in its interest expense. Adjusted EBITDA was approximately $6.9 million, an approximately $4.1 million increase from $2.81 million for the six months ended June 30, 2013, primarily due to a $3.9 million increase in net timber sales and a $1.0 million decrease in general and administrative expenses, offset by a $0.7 million decrease in net revenue from timberland sales and a $0.3 million increase in forestry management expenses. For the quarter, the company increased total harvest volume by 40% to 361,000 tons compared to second quarter 2013. Approximately 78,000 tons of the 103,000-ton increase in harvest volume during the quarter derived from properties acquired in 2014. The newly acquired properties also helped to improve the company's overall product mix-the harvest mix for second quarter 2014 was 65% pulpwood and 35% sawtimber compared to 73% and 27%, respectively, for the second quarter 2013.

Similar Private Companies By Industry

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 7, 2014
Macaslin, Barrow & Henderson LLC, 18,008 Acres of Timberland in Southern Georgia & Northern Florida
Merger/Acquisition
July 7, 2014
Wildwood Timberlands, LLC, 37,663 Acres of Timberland in Middle Georgia
Merger/Acquisition
March 13, 2014
Waycross-Panola Properties
 

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