Azzad Asset Management Inc. ADV Makes New $782,000 Investment in Potlatch Corporation (NASDAQ:PCH)

Azzad Asset Management Inc. ADV acquired a new stake in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 17,332 shares of the real estate investment trust's stock, valued at approximately $782,000.

A number of other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp increased its position in shares of Potlatch by 67.1% during 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 last quarter. SG Americas Securities LLC purchased a new stake in Potlatch during the first quarter worth about $1,183,000. Harbor Capital Advisors Inc. raised its position in Potlatch by 168.1% in the first 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 during the period. UMB Bank n.a. boosted its stake in Potlatch by 41.6% in the first quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 254 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Potlatch by 6,678.1% during the 1st quarter. GAMMA Investing LLC now owns 30,366 shares of the real estate investment trust's stock valued at $1,370,000 after acquiring an additional 29,918 shares during the period. 86.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Potlatch Stock Performance

Shares of NASDAQ:PCH traded up $0.64 during midday trading on Thursday, reaching $38.35. 529,650 shares of the company traded hands, compared to its average volume of 475,844. The firm's fifty day moving average price is $38.99 and its two-hundred day moving average price is $41.58. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 62.87 and a beta of 1.17. 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 Corporation has a 12 month low of $36.82 and a 12 month high of $48.12.

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

Potlatch Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.69%. The ex-dividend date is Friday, June 6th. Potlatch's dividend payout ratio is presently 295.08%.

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.