D.A. Davidson & CO. Has $2.83 Million Position in Potlatch Corporation (NASDAQ:PCH)

D.A. Davidson & CO. boosted its stake in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) by 83.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,780 shares of the real estate investment trust's stock after buying an additional 28,562 shares during the quarter. D.A. Davidson & CO. owned approximately 0.08% of Potlatch worth $2,833,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP lifted its stake in shares of Potlatch by 224.2% in the 4th quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 482 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of 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 purchasing an additional 417 shares during the period. UMB Bank n.a. lifted its stake 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 valued at $39,000 after purchasing an additional 254 shares during the period. Fifth Third Bancorp lifted its stake in shares of Potlatch by 67.1% in the 1st quarter. Fifth Third Bancorp now owns 1,893 shares of the real estate investment trust's stock valued at $85,000 after purchasing an additional 760 shares during the period. Finally, Sterling Capital Management LLC lifted its stake in shares of Potlatch by 806.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,503 shares of the real estate investment trust's stock valued at $98,000 after purchasing an additional 2,227 shares during the period. 86.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Citigroup reaffirmed a "buy" rating and issued a $47.00 target price (down from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Truist Financial decreased their target price on Potlatch from $44.00 to $42.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Potlatch presently has a consensus rating of "Moderate Buy" and an average target price of $48.57.

Potlatch Price Performance

Potlatch stock opened at $39.98 on Monday. Potlatch Corporation has a 12 month low of $36.82 and a 12 month high of $48.12. The company has a current ratio of 1.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.45. The business's 50 day simple moving average is $39.02 and its 200 day simple moving average is $41.28. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 65.54 and a beta of 1.14.

Potlatch (NASDAQ:PCH - Get Free Report) last posted its earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.13. The firm had revenue of $268.26 million for the quarter, compared to the consensus estimate of $243.68 million. Potlatch had a return on equity of 2.36% and a net margin of 4.35%. The business's quarterly revenue was up 17.6% on a year-over-year basis. Sell-side analysts forecast that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.50%. Potlatch's dividend payout ratio (DPR) is presently 295.08%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.