American Century Companies Inc. Takes Position in Potlatch Corporation $PCH

Key Points

• American Century Companies Inc. has acquired 272,622 shares of Potlatch Corporation (NASDAQ:PCH) valued at approximately $12.3 million, representing around 0.35% of the company.
• Potlatch reported earnings of $0.09 per share for the last quarter, surpassing estimates, although revenue decreased by 14.2% year-over-year.
• Major analyst actions include a downgrade from a "hold" to "sell" by Wall Street Zen, while Truist Financial upgraded Potlatch to "buy" and raised its price target to $52.00.

American Century Companies Inc. acquired a new position in Potlatch Corporation (NASDAQ:PCH - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 272,622 shares of the real estate investment trust's stock, valued at approximately $12,301,000. American Century Companies Inc. owned 0.35% of Potlatch as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PCH. Deutsche Bank AG increased its stake in Potlatch by 472.1% during the 1st quarter. Deutsche Bank AG now owns 908,253 shares of the real estate investment trust's stock valued at $40,980,000 after buying an additional 749,491 shares during the period. Balyasny Asset Management L.P. increased its stake in Potlatch by 256.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 567,371 shares of the real estate investment trust's stock valued at $22,269,000 after buying an additional 408,355 shares during the period. Deprince Race & Zollo Inc. increased its stake in Potlatch by 17.5% during the 4th quarter. Deprince Race & Zollo Inc. now owns 2,359,832 shares of the real estate investment trust's stock valued at $92,623,000 after buying an additional 351,777 shares during the period. Russell Investments Group Ltd. increased its stake in Potlatch by 51.8% during the 1st quarter. Russell Investments Group Ltd. now owns 819,782 shares of the real estate investment trust's stock valued at $36,989,000 after buying an additional 279,654 shares during the period. Finally, Westwood Holdings Group Inc. increased its stake in Potlatch by 12.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 2,404,064 shares of the real estate investment trust's stock valued at $94,360,000 after buying an additional 260,674 shares during the period. Institutional investors and hedge funds own 86.06% of the company's stock.

Analyst Ratings Changes

PCH has been the subject of several research reports. Wall Street Zen lowered shares of Potlatch from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Citigroup restated a "buy" rating and set a $47.00 price target (down from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. Finally, Truist Financial raised shares of Potlatch from a "hold" rating to a "buy" rating and raised their price objective for the company from $44.00 to $52.00 in a research report on Wednesday, July 16th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $50.00.

Potlatch Stock Up 0.8%

Shares of PCH traded up $0.33 on Friday, hitting $42.03. The company's stock had a trading volume of 552,018 shares, compared to its average volume of 517,175. Potlatch Corporation has a fifty-two week low of $36.82 and a fifty-two week high of $48.12. The company has a quick ratio of 0.75, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The firm's fifty day moving average price is $41.34 and its 200-day moving average price is $41.40. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 79.30 and a beta of 1.12.

Potlatch (NASDAQ:PCH - Get Free Report) last released 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. The company had revenue of $274.99 million during the quarter, compared to the consensus estimate of $267.66 million. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.The firm's revenue for the quarter was down 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. On average, equities research analysts expect that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.45 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.3%. Potlatch's dividend payout ratio (DPR) is presently 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.