AQR Capital Management LLC Buys 274,535 Shares of Potlatch Corporation $PCH

Key Points

• AQR Capital Management LLC increased its stake in Potlatch Corporation (130.0%) during the first quarter, owning 485,689 shares worth approximately $21.7 million.
• The company recently announced a quarterly dividend of $0.45, reflecting an annualized dividend yield of 4.2% and a payout ratio of 339.62%.
• Potlatch's recent earnings report showed a net margin of 3.94% and revenue of $274.99 million, exceeding analyst estimates.

AQR Capital Management LLC grew its holdings in Potlatch Corporation (NASDAQ:PCH - Free Report) by 130.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 485,689 shares of the real estate investment trust's stock after purchasing an additional 274,535 shares during the period. AQR Capital Management LLC owned about 0.62% of Potlatch worth $21,691,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. 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 valued at $30,000 after purchasing an additional 417 shares during the period. Costello Asset Management INC acquired a new position in shares of Potlatch in the 1st quarter valued at about $30,000. 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 valued at $39,000 after purchasing an additional 254 shares during the period. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Potlatch in the 1st quarter valued at about $52,000. Finally, Quarry LP increased its holdings in shares of Potlatch by 70.9% in the 1st quarter. Quarry LP now owns 1,191 shares of the real estate investment trust's stock valued at $54,000 after purchasing an additional 494 shares during the period. Institutional investors and hedge funds own 86.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PCH shares. Truist Financial upgraded Potlatch from a "hold" rating to a "buy" rating and upped their target price for the company from $44.00 to $52.00 in a report on Wednesday, July 16th. Wall Street Zen cut Potlatch from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, Citigroup reissued a "buy" rating and issued a $47.00 price target (down previously from $49.00) on shares of Potlatch in a research note on Tuesday, June 3rd. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $49.83.

Potlatch Stock Down 3.1%

Shares of NASDAQ PCH traded down $1.32 during trading hours on Friday, hitting $41.34. The stock had a trading volume of 378,323 shares, compared to its average volume of 454,165. The company has a market capitalization of $3.20 billion, a P/E ratio of 78.00 and a beta of 1.12. The firm's 50-day moving average price is $41.83 and its two-hundred day moving average price is $41.17. 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 0.47, a quick ratio of 0.75 and a current ratio of 1.13.

Potlatch (NASDAQ:PCH - Get Free Report) last announced its earnings results on Monday, July 28th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.02. The firm had revenue of $274.99 million during the quarter, compared to analysts' expectations of $267.66 million. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.The company's revenue was down 14.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 earnings per share. Analysts anticipate that Potlatch Corporation will post 0.8 EPS for the current fiscal year.

Potlatch Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.80 dividend on an annualized basis and a yield of 4.4%. Potlatch's dividend payout ratio is presently 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.