Potlatch Corporation $PCH Shares Acquired by Adelante Capital Management LLC

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 grew its holdings in Potlatch Corporation (NASDAQ:PCH - Free Report) by 43.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,708 shares of the real estate investment trust's stock after acquiring an additional 14,828 shares during the period. Adelante Capital Management LLC owned about 0.06% of Potlatch worth $2,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. UMB Bank n.a. grew its stake in shares of Potlatch by 41.6% in the first 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 in the last quarter. Harbor Capital Advisors Inc. grew its stake 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 purchasing an additional 417 shares in the last quarter. Quarry LP grew its stake in Potlatch by 70.9% during 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. Costello Asset Management INC acquired a new position in Potlatch during the 1st quarter worth $30,000. Finally, Fifth Third Bancorp grew its stake in Potlatch by 67.1% during the 1st quarter. Fifth Third Bancorp now owns 1,893 shares of the real estate investment trust's stock worth $85,000 after purchasing an additional 760 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.

Analyst Ratings Changes

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

Potlatch Stock Down 2.5%

PCH traded down $1.06 on Tuesday, reaching $41.62. The company's stock had a trading volume of 349,281 shares, compared to its average volume of 471,664. The stock has a 50 day moving average of $41.73 and a two-hundred day moving average of $41.24. 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 company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 78.53 and a beta of 1.12.

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, 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 business had revenue of $274.99 million during the quarter, compared to analysts' expectations of $267.66 million. During the same quarter in the prior year, the business posted $0.17 EPS. The company's revenue for the quarter was down 14.2% on a year-over-year basis. As a group, analysts forecast that Potlatch Corporation will post 0.8 EPS for the current fiscal year.

Potlatch Dividend Announcement

The company also recently announced 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 of this dividend 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 is 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.