Allspring Global Investments Holdings LLC Sells 112,776 Shares of Potlatch Corporation $PCH

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Potlatch Corporation by 63.7% in Q2, selling 112,776 shares, leaving it with 64,139 shares valued at approximately $2.46 million.
• Analysts have mixed ratings on Potlatch, with Truist Financial lowering its price target from $52.00 to $51.00, while Zacks Research downgraded the stock from "hold" to "strong sell."
• Potlatch recently announced a quarterly dividend of $0.45 per share, resulting in an annualized dividend of $1.80, with a dividend yield of 4.2%.

Allspring Global Investments Holdings LLC trimmed its holdings in Potlatch Corporation (NASDAQ:PCH - Free Report) by 63.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,139 shares of the real estate investment trust's stock after selling 112,776 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.08% of Potlatch worth $2,461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. CWM LLC grew its stake in Potlatch by 83.9% in the 2nd quarter. CWM LLC now owns 9,734 shares of the real estate investment trust's stock valued at $373,000 after buying an additional 4,440 shares in the last quarter. Comprehensive Money Management Services LLC grew its stake in Potlatch by 19.4% in the 2nd quarter. Comprehensive Money Management Services LLC now owns 11,390 shares of the real estate investment trust's stock valued at $437,000 after buying an additional 1,850 shares in the last quarter. Columbus Macro LLC purchased a new position in Potlatch in the 2nd quarter valued at approximately $1,701,000. Abel Hall LLC purchased a new position in Potlatch in the 2nd quarter valued at approximately $213,000. Finally, KLP Kapitalforvaltning AS grew its stake in Potlatch by 6.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 16,024 shares of the real estate investment trust's stock valued at $615,000 after buying an additional 1,000 shares in the last quarter. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PCH. Truist Financial reduced their price target on shares of Potlatch from $52.00 to $51.00 and set a "buy" rating for the company in a research report on Monday, October 13th. Zacks Research lowered shares of Potlatch from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 15th. Weiss Ratings restated a "hold (c)" rating on shares of Potlatch in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Potlatch from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Citigroup restated a "neutral" rating and set a $45.00 price target (down from $49.00) on shares of Potlatch in a research report on Wednesday, October 15th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $49.33.

Potlatch Stock Performance

Potlatch stock opened at $42.53 on Wednesday. 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 $3.29 billion, a PE ratio of 80.25 and a beta of 1.10. The firm has a fifty day simple moving average of $41.74 and a two-hundred day simple moving average of $40.42. Potlatch Corporation has a twelve month low of $36.82 and a twelve month high of $48.12.

Potlatch (NASDAQ:PCH - Get Free Report) last posted its quarterly earnings results on Friday, May 6th. The real estate investment trust reported $1.94 earnings per share for the quarter. The business had revenue of $354.19 million during the quarter. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. Research analysts expect that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Monday, September 15th. Potlatch's dividend payout ratio is 339.62%.

About Potlatch

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.

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