114,072 Shares in Potlatch Corporation $PCH Purchased by Beck Bode LLC

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 acquired a new position 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 114,072 shares of the real estate investment trust's stock, valued at approximately $5,147,000. Beck Bode LLC owned 0.15% of Potlatch as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PCH. Quarry LP increased its stake in Potlatch by 224.2% during the 4th quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock worth $27,000 after buying an additional 482 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in 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 acquiring an additional 417 shares during the period. Costello Asset Management INC purchased a new stake in Potlatch in the 1st quarter valued at approximately $30,000. UMB Bank n.a. boosted its stake in shares of 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 acquiring an additional 254 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in Potlatch in the 1st quarter valued at $52,000. Institutional investors and hedge funds own 86.06% of the company's stock.

Potlatch Stock Performance

Shares of PCH traded down $1.49 during midday trading on Tuesday, reaching $40.55. The stock had a trading volume of 109,722 shares, compared to its average volume of 521,975. The firm has a market cap of $3.13 billion, a PE ratio of 76.53 and a beta of 1.12. 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 firm has a 50 day simple moving average of $41.40 and a 200-day simple moving average of $41.34. 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 issued its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. The business had revenue of $274.99 million during the quarter, compared to analysts' expectations of $267.66 million. During the same quarter in the previous year, the company earned $0.17 EPS. The business's revenue was down 14.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Monday, September 15th. Potlatch's payout ratio is presently 339.62%.

Analyst Ratings Changes

PCH has been the subject of several recent research reports. Truist Financial upgraded 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 report on Wednesday, July 16th. Wall Street Zen cut shares of Potlatch from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Citigroup reiterated a "buy" rating and issued a $47.00 price objective (down from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $50.00.

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.