Should You Buy Catchmark Timber Trust Inc (CTT)?

Consequently, specific money managers have jumped into Catchmark Timber Trust Inc (NYSE:CTT) headfirst. Cove Street Capital assembled the most valuable position in Catchmark Timber Trust Inc (NYSE:CTT) which had $0.9 million invested in the company at the end of the quarter. Cliff Asness’ AQR Capital Management also made a $0.3 million investment in the stock during the quarter. The other funds with new positions in the stock are Israel Englander’s Millennium Management and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Catchmark Timber Trust Inc (NYSE:CTT) but similarly valued. These stocks are NewStar Financial Inc (NASDAQ:NEWS), Everbridge Inc (NASDAQ:EVBG), Century Communities, Inc (NYSE:CCS), and Xactly Corp (NYSE:XTLY). This group of stocks’ market values are closest to CTT’s market value.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $65 million. That figure was $34 million in CTT’s case. Everbridge Inc (NASDAQ:EVBG) and Century Communities, Inc (NYSE:CCS) are the most popular stocks in this table. On the other hand NewStar Financial Inc (NASDAQ:NEWS) is the least popular one with only four bullish hedge fund positions. Catchmark Timber Trust Inc (NYSE:CTT) registered the same number of bullish investors as EVBG and CCS, which suggests that it may be a good idea to take a closer look at the stock and potentially including it in one’s portfolio.

Disclosure: None