Allspring Global Investments Holdings LLC Increases Stock Position in Potlatch Corporation (NASDAQ:PCH)

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. increased its holdings 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 buying an additional 254 shares during the last quarter. EagleClaw Capital Managment LLC increased its holdings in shares of Potlatch by 0.5% in the 4th quarter. EagleClaw Capital Managment LLC now owns 62,225 shares of the real estate investment trust's stock worth $2,442,000 after buying an additional 300 shares during the last quarter. Capital Square LLC increased its holdings in shares of Potlatch by 0.8% in the 4th quarter. Capital Square LLC now owns 41,030 shares of the real estate investment trust's stock worth $1,711,000 after buying an additional 337 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings 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 buying an additional 417 shares during the last quarter. Finally, Xponance Inc. increased its holdings in shares of Potlatch by 4.3% in the 4th quarter. Xponance Inc. now owns 10,706 shares of the real estate investment trust's stock worth $420,000 after buying an additional 446 shares during the last quarter. Institutional investors own 86.06% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Citigroup reissued a "buy" rating and issued a $47.00 price target (down previously from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. Truist Financial decreased their price target on shares of Potlatch from $44.00 to $42.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $48.57.

Potlatch Trading Down 1.7%

Shares of Potlatch stock traded down $0.71 during trading on Friday, reaching $39.98. The company's stock had a trading volume of 306,579 shares, compared to its average volume of 474,986. Potlatch Corporation has a 52-week low of $36.82 and a 52-week high of $48.12. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 65.54 and a beta of 1.14. The firm's 50-day moving average is $39.02 and its two-hundred day moving average is $41.24. The company has a quick ratio of 1.04, a current ratio of 1.43 and a debt-to-equity ratio of 0.45.

Potlatch (NASDAQ:PCH - Get Free Report) last announced 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. Potlatch had a net margin of 4.35% and a return on equity of 2.36%. The company had revenue of $268.26 million during the quarter, compared to analysts' expectations of $243.68 million. The business's revenue for the quarter was up 17.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Potlatch Corporation will post 0.8 earnings per share for the current year.

Potlatch Dividend Announcement

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