Charles Schwab Investment Management Inc. Increases Position in Potlatch Corporation $PCH

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Potlatch Corporation by 1.1%, owning a total of 1,560,123 shares worth approximately $70.4 million as of its latest SEC filing.
• A recent analysis from Truist Financial upgraded Potlatch's rating from "hold" to "buy," raising the price target from $44.00 to $52.00, while Citigroup lowered its target from $49.00 to $47.00.
• Potlatch reported earnings per share of $0.09 for the last quarter, surpassing expectations of $0.07, despite a year-over-year revenue decline of 14.2% to $274.99 million.

Charles Schwab Investment Management Inc. raised its stake in Potlatch Corporation (NASDAQ:PCH - Free Report) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,560,123 shares of the real estate investment trust's stock after buying an additional 17,352 shares during the period. Charles Schwab Investment Management Inc. owned about 1.98% of Potlatch worth $70,393,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PCH. Quarry LP raised its stake in Potlatch by 224.2% in the fourth 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. grew its position in Potlatch by 168.1% during the 1st quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 417 shares during the last quarter. Costello Asset Management INC purchased a new stake in shares of Potlatch during the first quarter valued at approximately $30,000. UMB Bank n.a. increased its holdings in shares of Potlatch by 41.6% in the 1st quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 254 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in Potlatch in the 1st quarter worth about $52,000. 86.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on PCH shares. Truist Financial raised Potlatch from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $44.00 to $52.00 in a report on Wednesday, July 16th. Citigroup reaffirmed 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. Finally, Wall Street Zen downgraded Potlatch from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $50.00.

Potlatch Stock Performance

Shares of NASDAQ PCH traded down $0.03 during mid-day trading on Monday, hitting $42.93. The stock had a trading volume of 170,509 shares, compared to its average volume of 522,713. 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 twelve month low of $36.82 and a twelve month high of $48.12. The firm has a market cap of $3.32 billion, a PE ratio of 80.99 and a beta of 1.12. The company has a 50 day moving average of $40.62 and a two-hundred day moving average of $41.49.

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

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.