Potlatch Corporation (NASDAQ:PCH) Stock Holdings Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) by 9.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 176,915 shares of the real estate investment trust's stock after purchasing an additional 14,780 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.22% of Potlatch worth $7,982,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PCH. Quarry LP grew its position in shares of Potlatch by 224.2% in the 4th quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 482 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Potlatch by 168.1% in 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 in the last quarter. UMB Bank n.a. grew its position in shares of Potlatch by 41.6% in 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 in the last quarter. Fifth Third Bancorp grew its position in shares of Potlatch by 67.1% in the 1st quarter. Fifth Third Bancorp now owns 1,893 shares of the real estate investment trust's stock worth $85,000 after acquiring an additional 760 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in shares of 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 worth $98,000 after acquiring an additional 2,227 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.

Potlatch Stock Performance

NASDAQ:PCH traded down $0.71 during midday trading on Friday, reaching $39.98. 306,579 shares of the company traded hands, compared to its average volume of 475,807. Potlatch Corporation has a twelve month low of $36.82 and a twelve month high of $48.12. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 65.54 and a beta of 1.14. 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 company has a fifty day moving average price of $39.02 and a 200 day moving average price of $41.28.

Potlatch (NASDAQ:PCH - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.13. The business had revenue of $268.26 million during the quarter, compared to analyst estimates of $243.68 million. Potlatch had a return on equity of 2.36% and a net margin of 4.35%. The business's quarterly revenue was up 17.6% compared to the same quarter last year. On average, analysts expect that Potlatch Corporation will post 0.8 EPS for the current fiscal year.

Potlatch Dividend Announcement

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

Analyst Ratings Changes

PCH has been the subject of several research reports. Citigroup reiterated a "buy" rating and issued a $47.00 target price (down previously from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Truist Financial reduced their price objective on Potlatch from $44.00 to $42.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $48.57.

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.