ATLANTA (AP) _ CatchMark Timber Trust Inc. (CTT) on Thursday reported a loss of $11.8 million in its fourth quarter.
On a per-share basis, the Atlanta-based company said it had a loss of 24 cents.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.
The timberlands real estate investment trust posted revenue of $29.1 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $30 million.
For the year, the company reported that its loss narrowed to $93.3 million, or $1.90 per share. Revenue was reported as $106.7 million.
CatchMark shares have dropped 4% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11, a climb of 18% in the last 12 months.