Ceredex Value Advisors LLC Decreases Stake in Potlatch Corporation $PCH

Key Points

• Ceredex Value Advisors LLC has reduced its stake in Potlatch Corporation by 27.5%, selling 91,850 shares and now holds approximately 241,650 shares valued at $10.9 million.
• In contrast, several institutional investors have increased their positions, with Deutsche Bank AG boosting its holdings by 472.1% and now owning over 900,000 shares worth $40.98 million.
• Potlatch's stock has received mixed ratings from analysts, with Truist Financial upgrading it to a "buy" and increasing the target price to $52, while Wall Street Zen downgraded it to a "sell." The consensus target price is currently set at $50.00.

Ceredex Value Advisors LLC lowered its position in Potlatch Corporation (NASDAQ:PCH - Free Report) by 27.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 241,650 shares of the real estate investment trust's stock after selling 91,850 shares during the quarter. Ceredex Value Advisors LLC owned about 0.31% of Potlatch worth $10,903,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Westwood Holdings Group Inc. grew its stake in shares of Potlatch by 12.2% in the 4th quarter. Westwood Holdings Group Inc. now owns 2,404,064 shares of the real estate investment trust's stock valued at $94,360,000 after buying an additional 260,674 shares during the period. Deprince Race & Zollo Inc. grew its position in 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 acquiring an additional 351,777 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Potlatch by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,560,123 shares of the real estate investment trust's stock worth $70,393,000 after acquiring an additional 17,352 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in Potlatch by 1.4% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,413,351 shares of the real estate investment trust's stock valued at $55,474,000 after purchasing an additional 19,521 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Potlatch by 8.7% in the 4th quarter. Northern Trust Corp now owns 1,233,250 shares of the real estate investment trust's stock valued at $48,405,000 after purchasing an additional 98,914 shares during the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Potlatch Stock Up 0.8%

Shares of PCH traded up $0.33 during mid-day trading on Monday, hitting $42.03. 552,018 shares of the company's stock were exchanged, compared to its average volume of 507,454. The stock's 50-day moving average is $41.34 and its 200-day moving average is $41.36. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.13. Potlatch Corporation has a fifty-two week low of $36.82 and a fifty-two week high of $48.12. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 79.30 and a beta of 1.12.

Potlatch (NASDAQ:PCH - Get Free Report) last announced its earnings results 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 firm had revenue of $274.99 million for the quarter, compared to the consensus estimate of $267.66 million. During the same period in the prior year, the firm earned $0.17 EPS. The firm's revenue for the quarter was down 14.2% on a year-over-year basis. On average, sell-side analysts anticipate that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.

Potlatch Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Monday, September 15th. Potlatch's payout ratio is presently 339.62%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PCH. Citigroup reissued a "buy" rating and set a $47.00 price objective (down 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 upgraded shares of Potlatch from a "hold" rating to a "buy" rating and upped their price objective for the stock from $44.00 to $52.00 in a report on Wednesday, July 16th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $50.00.

Potlatch Company 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.