Exhibit 12.1

CATCHMARK TIMBER TRUST, INC.

STATEMENT OF RATIO OF EARNINGS TO FIXED CHARGES AND

TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

The following table sets forth ratios of earnings to fixed charges and earnings to combined fixed charges and preferred stock dividends for each of the five years in the periods ended December 31, 2013 and for the three months ended March 31, 2014 (dollar amounts in thousands):

	Three Months Ended March 31, 2014			For the Years Ended December 31,
				2013			2012			2011			2010			2009
Calculation of earnings
Net loss	$	(388	)	$	(13,197	)	$	(8,871	)	$	(11,945	)	$	(15,810	)	$	(19,948	)
Fixed charges (see below)		468			4,790			6,133			6,590			12,920			15,635
Total—earnings (loss) before fixed charges		80			(8,407	)		(2,738	)		(5,355	)		(2,890	)		(4,313	)
Fixed charges:
Interest expense		452			4,717			6,020			6,407			12,737			15,438
Imputed interest from land rent expense		16			73			113			183			183			197
Total fixed charges		468			4,790			6,133			6,590			12,920			15,635
Ratio of earnings (loss) to fixed charges		0.17			(1.76	)		(0.45	)		(0.81	)		(0.22	)		(0.28	)
Deficiency	$	(388	)	$	(13,197	)	$	(8,871	)	$	(11,945	)	$	(15,810	)	$	(19,948	)
Preferred stock dividends		—			360			374			1,557			3,708			3,640
Ratio of earnings (loss) to combined fixed charges and preferred stock dividends		0.17			(1.63	)		(0.42	)		(0.66	)		(0.17	)		(0.22	)
Deficiency	$	(388	)	$	(13,557	)	$	(9,245	)	$	(13,502	)	$	(19,518	)	$	(23,588	)