Allspring Global Investments Holdings LLC Purchases 14,780 Shares of Potlatch Corporation (NASDAQ:PCH)

Allspring Global Investments Holdings LLC lifted its stake in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 176,915 shares of the real estate investment trust's stock after buying an additional 14,780 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.22% of Potlatch worth $7,982,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Harbor Capital Advisors Inc. grew its position in Potlatch by 168.1% in the 1st quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 417 shares during the period. Quarry LP grew its position in Potlatch by 224.2% in the 4th quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 482 shares during the period. UMB Bank n.a. grew its position 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 valued at $39,000 after purchasing an additional 254 shares during the period. Fifth Third Bancorp grew its position in Potlatch by 67.1% in the 1st quarter. Fifth Third Bancorp now owns 1,893 shares of the real estate investment trust's stock valued at $85,000 after purchasing an additional 760 shares during the period. Finally, Sterling Capital Management LLC grew its position in Potlatch by 806.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,503 shares of the real estate investment trust's stock valued at $98,000 after purchasing an additional 2,227 shares during the period. Institutional investors and hedge funds own 86.06% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Truist Financial dropped their price objective on Potlatch from $44.00 to $42.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Citigroup restated a "buy" rating and set a $47.00 price objective (down from $49.00) on shares of Potlatch in a research note on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.57.

Potlatch Stock Performance

Shares of NASDAQ PCH traded down $0.71 during mid-day trading on Friday, reaching $39.98. 306,579 shares of the company's stock were exchanged, compared to its average volume of 475,807. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 65.54 and a beta of 1.14. Potlatch Corporation has a 52 week low of $36.82 and a 52 week high of $48.12. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.43 and a quick ratio of 1.04. The firm has a 50-day moving average price of $39.02 and a two-hundred day moving average price of $41.26.

Potlatch (NASDAQ:PCH - Get Free Report) last released its earnings results on Monday, April 28th. The real estate investment trust reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.13. Potlatch had a return on equity of 2.36% and a net margin of 4.35%. The company had revenue of $268.26 million for the quarter, compared to analysts' expectations of $243.68 million. The firm's revenue was up 17.6% compared to the same quarter last year. Analysts predict that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date was Friday, June 6th. Potlatch's dividend payout ratio is currently 295.08%.

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.