Bayforest Capital Ltd Acquires Shares of 26,683 Potlatch Corporation $PCH

Key Points

• Bayforest Capital Ltd has acquired 26,683 shares of Potlatch Corporation, valued at approximately $1,024,000, during the second quarter.
• Potlatch announced a quarterly dividend of $0.45, equating to an annual yield of 4.3%, but has a high dividend payout ratio of 339.62%.
• As of now, Potlatch stock has a market cap of $3.22 billion and has been rated as a "Moderate Buy" by analysts with an average target price of $49.67.

Bayforest Capital Ltd bought a new stake in Potlatch Corporation (NASDAQ:PCH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 26,683 shares of the real estate investment trust's stock, valued at approximately $1,024,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PCH. GAMMA Investing LLC lifted its position in shares of Potlatch by 6,678.1% in the first 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 in the last quarter. UMB Bank n.a. lifted its position in shares of 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 in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Potlatch by 168.1% in the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 417 shares in the last quarter. SG Americas Securities LLC purchased a new position in Potlatch during the first quarter worth approximately $1,183,000. Finally, Fifth Third Bancorp lifted its position in Potlatch by 67.1% during the first quarter. Fifth Third Bancorp now owns 1,893 shares of the real estate investment trust's stock worth $85,000 after buying an additional 760 shares in the last quarter. Hedge funds and other institutional investors own 86.06% of the company's stock.

Potlatch Stock Up 2.2%

Potlatch stock opened at $41.64 on Tuesday. Potlatch Corporation has a 1-year low of $36.82 and a 1-year high of $48.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 0.75. The stock has a market cap of $3.22 billion, a PE ratio of 78.57 and a beta of 1.10. The stock's fifty day moving average is $41.85 and its two-hundred day moving average is $40.46.

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

Potlatch Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $0.45 dividend. The ex-dividend date was Monday, September 15th. This represents a $1.80 dividend on an annualized basis and a yield of 4.3%. Potlatch's dividend payout ratio (DPR) is presently 339.62%.

Analyst Ratings Changes

PCH has been the subject of several recent analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Potlatch in a research note on Wednesday, October 8th. Wall Street Zen cut Potlatch from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, Truist Financial decreased their price target on Potlatch from $52.00 to $51.00 and set a "buy" rating on the stock in a research note on Monday. Six analysts have rated the stock with a Buy rating and one has issued a Hold 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 $49.67.

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.

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