Columbus Macro LLC Buys New Holdings in Potlatch Corporation $PCH

Key Points

• Columbus Macro LLC has acquired a new stake in Potlatch Corporation, purchasing 44,322 shares valued at approximately $1,701,000, representing about 0.06% of the company.
• Potlatch has received mixed ratings from analysts, with Truist Financial upgrading the stock to a "buy" rating with a target price of $52, while Wall Street Zen downgraded it to a "sell" rating.
• The company recently declared a quarterly dividend of $0.45 per share, reflecting a substantial annualized dividend yield of 4.2%, although the dividend payout ratio stands at a high 339.62%.

Columbus Macro LLC bought a new stake in Potlatch Corporation (NASDAQ:PCH - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 44,322 shares of the real estate investment trust's stock, valued at approximately $1,701,000. Columbus Macro LLC owned about 0.06% of Potlatch as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its position in Potlatch by 168.1% in the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 417 shares during the last quarter. Costello Asset Management INC purchased a new stake in Potlatch in the first quarter valued at approximately $30,000. UMB Bank n.a. boosted its position in Potlatch by 41.6% in the first quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 254 shares during the last quarter. GAMMA Investing LLC boosted its position in Potlatch by 61.1% in the second quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 411 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Potlatch in the first quarter valued at approximately $52,000. Hedge funds and other institutional investors own 86.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PCH. Truist Financial upgraded 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 research report on Wednesday, July 16th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Potlatch in a research note on Wednesday. Finally, Wall Street Zen cut shares of Potlatch from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Potlatch presently has an average rating of "Moderate Buy" and an average target price of $49.83.

Potlatch Trading Up 1.0%

Shares of NASDAQ:PCH opened at $42.44 on Thursday. Potlatch Corporation has a 1 year low of $36.82 and a 1 year high of $48.12. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 80.08 and a beta of 1.10. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 0.75. The business's 50 day moving average price is $41.86 and its 200-day moving average price is $40.59.

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 (EPS) for the quarter, beating 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 firm had revenue of $274.99 million for the quarter, compared to analyst estimates of $267.66 million. During the same quarter last year, the firm posted $0.17 EPS. The business's revenue was down 14.2% on a year-over-year basis. On average, equities research analysts forecast that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.

Potlatch Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.45 per share. The ex-dividend date was Monday, September 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.2%. Potlatch's dividend payout ratio (DPR) is 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.

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