Potlatch Corporation (NASDAQ:PCH) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) by 22.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 750,179 shares of the real estate investment trust's stock after selling 220,807 shares during the period. Bank of New York Mellon Corp owned about 0.95% of Potlatch worth $33,848,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings in Potlatch by 41.6% during 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. Capital Square LLC lifted its holdings in Potlatch by 0.8% during 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. lifted 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 purchasing an additional 417 shares during the last quarter. Xponance Inc. lifted 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 purchasing an additional 446 shares during the last quarter. Finally, Quarry LP lifted its holdings 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 purchasing an additional 482 shares during the last quarter. Institutional investors own 86.06% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PCH shares. Truist Financial raised Potlatch from a "hold" rating to a "buy" rating and raised their price target for the stock from $44.00 to $52.00 in a report on Wednesday. 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. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $50.00.

Potlatch Stock Performance

PCH traded down $0.15 during trading hours on Thursday, hitting $40.64. The company's stock had a trading volume of 128,190 shares, compared to its average volume of 479,794. Potlatch Corporation has a fifty-two week low of $36.82 and a fifty-two week high of $48.12. The company has a current ratio of 1.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $3.19 billion, a PE ratio of 66.45 and a beta of 1.14. The company has a 50-day simple moving average of $39.33 and a 200 day simple moving average of $41.31.

Potlatch (NASDAQ:PCH - Get Free Report) last posted its earnings results on Monday, April 28th. The real estate investment trust reported $0.33 EPS 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. Potlatch's quarterly revenue was up 17.6% on a year-over-year basis. As a group, sell-side analysts expect that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Friday, June 6th. Potlatch's dividend payout ratio (DPR) is presently 295.08%.

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.