Blair William & Co. IL Invests $320,000 in Potlatch Corporation (NASDAQ:PCH)

Key Points

• Blair William & Co. IL acquired a new stake in Potlatch Corporation worth approximately $320,000 by purchasing 7,093 shares in the 1st quarter.
• Potlatch reported earnings of $0.09 per share for the last quarter, exceeding analysts' expectations of $0.07, but reflecting a 14.2% decline in revenue year-over-year.
• Recent analyst activity includes a downgrade to a "sell" rating from Wall Street Zen and a price target increase to $52.00 from Truist Financial, while maintaining a consensus target price of $50.00.

Blair William & Co. IL bought a new stake in Potlatch Corporation (NASDAQ:PCH - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,093 shares of the real estate investment trust's stock, valued at approximately $320,000.

A number of other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in shares of Potlatch by 9.7% in the first quarter. PNC Financial Services Group Inc. now owns 17,548 shares of the real estate investment trust's stock worth $792,000 after purchasing an additional 1,547 shares during the last quarter. Barings LLC raised its position in Potlatch by 317.6% during the 1st quarter. Barings LLC now owns 98,366 shares of the real estate investment trust's stock valued at $4,438,000 after purchasing an additional 74,811 shares during the last quarter. US Bancorp DE boosted its stake in Potlatch by 16.1% during the first quarter. US Bancorp DE now owns 16,536 shares of the real estate investment trust's stock worth $746,000 after acquiring an additional 2,296 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of Potlatch by 136.0% during the first quarter. Natixis Advisors LLC now owns 29,200 shares of the real estate investment trust's stock valued at $1,318,000 after purchasing an additional 16,829 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Potlatch by 105.2% during the first quarter. Federated Hermes Inc. now owns 6,789 shares of the real estate investment trust's stock valued at $306,000 after purchasing an additional 3,481 shares during the last quarter. Hedge funds and other institutional investors own 86.06% of the company's stock.

Potlatch Stock Performance

PCH traded down $0.81 during midday trading on Friday, reaching $42.97. The company had a trading volume of 236,289 shares, compared to its average volume of 523,007. Potlatch Corporation has a 1 year low of $36.82 and a 1 year high of $48.12. The company has a quick ratio of 0.75, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The company has a market cap of $3.32 billion, a P/E ratio of 80.92 and a beta of 1.12. The business has a 50-day moving average of $40.53 and a two-hundred day moving average of $41.52.

Potlatch (NASDAQ:PCH - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.02. The business had revenue of $274.99 million for the quarter, compared to analysts' expectations of $267.66 million. Potlatch had a return on equity of 2.10% and a net margin of 3.94%. The business's quarterly revenue was down 14.2% on a year-over-year basis. During the same period last year, the firm earned $0.17 earnings per share. As a group, equities research analysts predict that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on PCH shares. Wall Street Zen downgraded Potlatch from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Truist Financial upgraded shares of Potlatch from a "hold" rating to a "buy" rating and increased their price objective for the company from $44.00 to $52.00 in a research report on Wednesday, July 16th. Finally, Citigroup restated a "buy" rating and issued a $47.00 target price (down previously from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.