1060 Capital LLC Invests $1.13 Million in Potlatch Corporation $PCH

Key Points

• 1060 Capital LLC has acquired 25,000 shares of Potlatch Corporation, valued at approximately $1.13 million, representing 2.6% of their portfolio.
• Potlatch recently announced a quarterly dividend of $0.45 per share, with a significant payout ratio of 339.62% and an annualized yield of 4.2%.
• In terms of analyst ratings, Potlatch has received a mix of advice, with some analysts downgrading it to "sell" while others maintain a "buy" rating with a consensus target price of $50.00.

1060 Capital LLC purchased a new stake in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,000 shares of the real estate investment trust's stock, valued at approximately $1,128,000. Potlatch comprises 2.6% of 1060 Capital LLC's holdings, making the stock its 9th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its holdings in Potlatch by 168.1% during the 1st quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 417 shares during the last quarter. Costello Asset Management INC bought a new position in Potlatch in the 1st quarter worth $30,000. UMB Bank n.a. raised its holdings in Potlatch by 41.6% in the 1st quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 254 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new position in Potlatch in the 1st quarter worth $52,000. Finally, Quarry LP raised its holdings in Potlatch by 70.9% in the 1st quarter. Quarry LP now owns 1,191 shares of the real estate investment trust's stock worth $54,000 after purchasing an additional 494 shares in the last quarter. 86.06% of the stock is currently owned by institutional investors.

Potlatch Stock Down 3.1%

PCH stock traded down $1.32 during trading on Friday, hitting $41.34. 378,323 shares of the stock traded hands, compared to its average volume of 454,165. Potlatch Corporation has a 1 year low of $36.82 and a 1 year high of $48.12. The firm's 50 day moving average is $41.83 and its two-hundred day moving average is $41.17. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 78.00 and a beta of 1.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 0.75.

Potlatch (NASDAQ:PCH - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. The company had revenue of $274.99 million for the quarter, compared to the consensus estimate of $267.66 million. During the same period in the prior year, the firm posted $0.17 EPS. Potlatch's revenue for the quarter was down 14.2% on a year-over-year basis. On average, sell-side analysts anticipate that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, September 15th. This represents a $1.80 annualized dividend and a yield of 4.4%. Potlatch's dividend payout ratio is currently 339.62%.

Analyst Ratings Changes

Several brokerages have commented on PCH. Truist Financial upgraded shares of Potlatch from a "hold" rating to a "buy" rating and upped their price objective for the stock from $44.00 to $52.00 in a report on Wednesday, July 16th. Citigroup reaffirmed a "buy" rating and issued a $47.00 target price (down from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Finally, Wall Street Zen downgraded shares of Potlatch from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $49.83.

About Potlatch

PotlatchDeltic Corporation Nasdaq: PCH is a leading Real Estate Investment Trust (REIT) that owns nearly 2.2 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program.