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Catchmark Timber Trust, Inc. (CTT) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

SEC Filings

CTT Annual Reports

Catchmark Timber Trust, Inc.

CIK: 1341141 Ticker: CTT
Exhibit 99.1
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FOR IMMEDIATE RELEASE
CatchMark Reports Fourth Quarter and Full-Year 2021 Results, Declares Dividend, and Provides 2022 Guidance

Realized full-year net income of $58.4 million, or $1.20 per share.
Achieved full-year Adjusted EBITDA of $49.4 million, at the higher-end of company’s guidance range.
Generated a record $47.2 million of full-year net cash provided by operating activities, 17% higher than prior year.
Produced full-year CAD of $34.1 million and paid total cash distributions of $23.3 million to shareholders.
Concluded major capital recycling program and refocused efforts on U.S. South expansion.
Achieved full-year U.S. South timber sales pricing 17% and 14% higher than prior year for pulpwood and sawtimber, respectively, and fourth quarter U.S. South pricing 32% and 21% higher than 2020, respectively, driven by strong market fundamentals.
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ATLANTA – February 10, 2022 – CatchMark Timber Trust, Inc. (NYSE: CTT) today reported fourth quarter and full-year 2021 results. The company also declared a cash dividend of $0.075 per share for its common stockholders of record as of February 28, 2022, payable on March 15, 2022.

Brian M. Davis, CatchMark's Chief Executive Officer, said: “CatchMark exceeded our 2021 guidance for net income and met our 2021 guidance for Adjusted EBITDA, continuing our long track record of achieving timber sales prices substantially above market averages, while maintaining the highest productivity per acre among our peers. These results again attest to the prime quality of our timberlands in leading mill markets and our success in managing our delivered wood sales model supplemented by opportunistic stumpage sales. Following the completion of recent strategic large dispositions and the Triple T exit, we are now
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The following information was filed by Catchmark Timber Trust, Inc. (CTT) on Thursday, February 10, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Equity
Consolidated Statements Of Equity (Parenthetical)
Consolidated Statements Of Operations
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Operating Lease Future Annual Payments (Details)
Customer Concentration
Customer Concentration - Narrative (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Deferred Tax Assets (Details)
Income Taxes - Effective Income Tax Reconciliation (Details)
Income Taxes - Narrative (Details)
Income Taxes - Operating Loss Carryforwards (Details)
Interest Rate Swaps
Interest Rate Swaps (Tables)
Interest Rate Swaps - Narrative (Details)
Interest Rate Swaps - Schedule Of Interest Rate Swaps And Fair Value Measurements (Details)
Interest Rate Swaps - Schedule Of Interest Rate Swaps Outstanding (Details)
Noncontrolling Interests
Noncontrolling Interests - Narrative (Details)
Notes Payable And Lines Of Credit
Notes Payable And Lines Of Credit (Tables)
Notes Payable And Lines Of Credit - Narrative (Details)
Notes Payable And Lines Of Credit - Schedule Of Debt Outstanding (Details)
Notes Payable And Lines Of Credit - Schedule Of Interest Payments (Details)
Notes Payable And Lines Of Credit - Schedule Of Patronage Dividends Classification (Details)
Organization
Organization - Narrative (Details)
Quarterly Results (Unaudited)
Quarterly Results (Unaudited) (Tables)
Quarterly Results (Unaudited) - Schedule Of Unaudited Quarterly Financial Information (Details)
Recreational Leases
Recreational Leases - Narrative (Details)
Segment Information
Segment Information (Tables)
Segment Information - Reconciliation Of Adjusted Ebitda (Details)
Segment Information - Schedule Of Adjusted Ebitda, By Segment (Details)
Segment Information - Schedule Of Operating Revenue, By Segment (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Accelerated Vesting Of Former Ceo's Outstanding Equity Awards - Narrative (Details)
Stock-Based Compensation - Equity Grants To Independent Directors - Narrative (Details)
Stock-Based Compensation - Long-Term Incentive Plans - Narrative (Details)
Stock-Based Compensation - Performance-Based Grants - Narrative (Details)
Stock-Based Compensation - Rollforward Of Unvested Non-Option Award Activity (Details)
Stock-Based Compensation - Schedule Of Fair Value Assumptions (Details)
Stock-Based Compensation - Schedule Of Service-Based Restricted Stock Grants To Employees (Details)
Stock-Based Compensation - Schedule Of Stock-Based Compensation - Independent Directors (Details)
Stock-Based Compensation - Service-Based Restricted Stock Grants To Employees - Narrative (Details)
Stock-Based Compensation - Stock-Based Compensation Expense (Details)
Stock-Based Compensation - Stock-Based Compensation Expense - Narrative (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Narrative (Details)
Stockholders' Equity - Schedule Of Distributions To Holders Of Common Stock (Details)
Subsequent Event
Subsequent Event - Narrative (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - Reconciliation Of Weighted Average Common Shares (Details)
Timber Assets
Timber Assets (Tables)
Timber Assets - Income Statement Information, Disposal (Details)
Timber Assets - Narrative (Details)
Timber Assets - Schedule Of Timber And Timberlands (Details)
Timber Assets - Schedule Of Timberland Sales And Large Dispositions Acreage By State (Details)
Timber Assets - Timberland Portfolio (Details)
Unconsolidated Joint Ventures
Unconsolidated Joint Ventures (Tables)
Unconsolidated Joint Ventures - Narrative (Details)
Unconsolidated Joint Ventures - Schedule Of Cash Flow Information (Details)
Unconsolidated Joint Ventures - Schedule Of Condensed Balance Sheet Information (Details)
Unconsolidated Joint Ventures - Schedule Of Condensed Income Statement Information (Details)
Unconsolidated Joint Ventures - Schedule Of Fees Earned (Details)
Ticker: CTT
CIK: 1341141
Form Type: 10-K Annual Report
Accession Number: 0001341141-22-000014
Submitted to the SEC: Thu Mar 03 2022 4:23:46 PM EST
Accepted by the SEC: Thu Mar 03 2022
Period: Friday, December 31, 2021
Industry: Real Estate Investment Trusts

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