1060 Capital LLC Makes New Investment 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 bought a new position in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 25,000 shares of the real estate investment trust's stock, valued at approximately $1,128,000. Potlatch comprises about 2.6% of 1060 Capital LLC's portfolio, making the stock its 9th biggest holding.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on PCH shares. Wall Street Zen lowered shares of Potlatch from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Truist Financial raised shares of Potlatch from a "hold" rating to a "buy" rating and upped their price objective for the company from $44.00 to $52.00 in a research note on Wednesday, July 16th. Finally, Citigroup reaffirmed a "buy" rating and issued a $47.00 price objective (down from $49.00) on shares of Potlatch in a research note on Tuesday, June 3rd. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Potlatch currently has an average rating of "Buy" and a consensus target price of $50.00.

Potlatch Stock Down 0.4%

Shares of NASDAQ PCH opened at $42.68 on Tuesday. The firm has a market cap of $3.30 billion, a PE ratio of 80.53 and a beta of 1.12. Potlatch Corporation has a 12-month low of $36.82 and a 12-month high of $48.12. The company's fifty day simple moving average is $41.69 and its 200 day simple moving average is $41.24. The company has a quick ratio of 0.75, a current ratio of 1.13 and a debt-to-equity ratio of 0.47.

Potlatch (NASDAQ:PCH - Get Free Report) last issued its earnings results on Monday, July 28th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. The business had revenue of $274.99 million for the quarter, compared to analyst estimates of $267.66 million. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. Potlatch's revenue was down 14.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 earnings per share. As a group, sell-side analysts forecast that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.

Potlatch Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.80 annualized dividend and a yield of 4.2%. Potlatch's dividend payout ratio is currently 339.62%.

Potlatch Profile

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.

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