Adelante Capital Management LLC Buys 14,828 Shares of Potlatch Corporation $PCH

Key Points

• Adelante Capital Management LLC increased its stake in Potlatch Corporation by 43.8%, now holding 48,708 shares valued at approximately $2.2 million.
• Potlatch Corporation reported a quarterly EPS of $0.09, slightly exceeding expectations, with revenues of $274.99 million, down 14.2% from the previous year.
• The company recently declared a quarterly dividend of $0.45 per share, reflecting a 4.2% yield with a payout ratio of 339.62%.

Adelante Capital Management LLC increased its position in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) by 43.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,708 shares of the real estate investment trust's stock after acquiring an additional 14,828 shares during the quarter. Adelante Capital Management LLC owned about 0.06% of Potlatch worth $2,198,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PCH. Algert Global LLC acquired a new position in shares of Potlatch during the fourth quarter worth about $283,000. Bank of America Corp DE raised its stake in Potlatch by 11.0% in the fourth quarter. Bank of America Corp DE now owns 745,033 shares of the real estate investment trust's stock valued at $29,243,000 after buying an additional 73,781 shares during the period. Baird Financial Group Inc. raised its stake in Potlatch by 6.8% in the fourth quarter. Baird Financial Group Inc. now owns 77,729 shares of the real estate investment trust's stock valued at $3,051,000 after buying an additional 4,963 shares during the period. D. E. Shaw & Co. Inc. raised its stake in Potlatch by 43.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 118,514 shares of the real estate investment trust's stock valued at $4,652,000 after buying an additional 35,664 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Potlatch by 14.3% in the fourth quarter. Janus Henderson Group PLC now owns 890,067 shares of the real estate investment trust's stock valued at $34,935,000 after buying an additional 111,508 shares during the period. 86.06% of the stock is owned by institutional investors and hedge funds.

Potlatch Price Performance

Potlatch stock traded down $0.97 during trading hours on Friday, reaching $41.69. 136,891 shares of the stock were exchanged, compared to its average volume of 517,526. The company has a market cap of $3.22 billion, a P/E ratio of 78.76 and a beta of 1.12. The company has a current ratio of 1.13, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47. Potlatch Corporation has a twelve month low of $36.82 and a twelve month high of $48.12. The stock has a 50 day moving average of $41.80 and a two-hundred day moving average of $41.23.

Potlatch (NASDAQ:PCH - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.02. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. The firm 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 company posted $0.17 earnings per share. The business's revenue for the quarter was down 14.2% on a year-over-year basis. Equities analysts expect that Potlatch Corporation will post 0.8 EPS for the current fiscal year.

Potlatch Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 payout ratio is 339.62%.

Wall Street Analysts Forecast Growth

PCH has been the topic of several research reports. Truist Financial upgraded 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 report on Wednesday, July 16th. Citigroup reiterated a "buy" rating and issued a $47.00 price objective (down from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. Finally, Wall Street Zen downgraded shares of Potlatch from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $49.83.

Potlatch Company 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.