Beck Bode LLC Takes Position in Potlatch Corporation $PCH

Key Points

• Beck Bode LLC has acquired 114,072 shares of Potlatch Corporation, valued at approximately $5,147,000, increasing its ownership to 0.15% of the company.
• Potlatch recently announced a quarterly dividend of $0.45 per share, translating to an annualized yield of 4.3%, despite showcasing a high dividend payout ratio of 339.62%.
• The stock has experienced a recent downgrade from Wall Street Zen, shifting from a "hold" to a "sell" rating, while other analysts have maintained a consensus "buy" rating with a price target averaging $50.00.

Beck Bode LLC bought a new position in Potlatch Corporation (NASDAQ:PCH - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 114,072 shares of the real estate investment trust's stock, valued at approximately $5,147,000. Beck Bode LLC owned approximately 0.15% of Potlatch at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PCH. Deutsche Bank AG boosted its stake in Potlatch by 472.1% in the first quarter. Deutsche Bank AG now owns 908,253 shares of the real estate investment trust's stock worth $40,980,000 after buying an additional 749,491 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Potlatch by 256.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 567,371 shares of the real estate investment trust's stock worth $22,269,000 after purchasing an additional 408,355 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in shares of Potlatch by 17.5% in the fourth quarter. Deprince Race & Zollo Inc. now owns 2,359,832 shares of the real estate investment trust's stock worth $92,623,000 after buying an additional 351,777 shares during the period. Russell Investments Group Ltd. raised its holdings in Potlatch by 51.8% during the 1st quarter. Russell Investments Group Ltd. now owns 819,782 shares of the real estate investment trust's stock valued at $36,989,000 after buying an additional 279,654 shares during the last quarter. Finally, American Century Companies Inc. purchased a new stake in Potlatch during the 1st quarter valued at $12,301,000. Hedge funds and other institutional investors own 86.06% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PCH. Citigroup reissued a "buy" rating and set a $47.00 price target (down previously from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Wall Street Zen cut shares of Potlatch from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Truist Financial raised shares of Potlatch from a "hold" rating to a "buy" rating and increased their price target for the company from $44.00 to $52.00 in a research report on Wednesday, July 16th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, Potlatch currently has a consensus rating of "Buy" and an average target price of $50.00.

Potlatch Stock Up 0.8%

PCH traded up $0.33 during trading on Monday, reaching $42.03. The stock had a trading volume of 552,018 shares, compared to its average volume of 507,454. The stock's 50 day moving average is $41.34 and its two-hundred day moving average is $41.36. The company has a current ratio of 1.13, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 79.30 and a beta of 1.12. Potlatch Corporation has a one year low of $36.82 and a one year high of $48.12.

Potlatch (NASDAQ:PCH - Get Free Report) last posted its quarterly earnings data 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. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.The business had revenue of $274.99 million during the quarter, compared to the consensus estimate of $267.66 million. During the same quarter in the prior year, the company earned $0.17 earnings per share. The firm's quarterly revenue was down 14.2% compared to the same quarter last year. As a group, analysts expect that Potlatch Corporation will post 0.8 earnings per share for the current year.

Potlatch Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.3%. The ex-dividend date is Monday, September 15th. Potlatch's dividend payout ratio (DPR) 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.