Deutsche Bank AG Raises Stake in Potlatch Corporation (NASDAQ:PCH)

Key Points

• Deutsche Bank AG significantly increased its stake in Potlatch Corporation by 472.1% during the first quarter, owning a total of 908,253 shares valued at approximately $40.98 million.
• Potlatch Corporation reported an earnings per share (EPS) of $0.09 for the last quarter, exceeding analysts' expectations, despite a 14.2% year-over-year revenue decline.
• Current analysts' ratings for Potlatch show a consensus of Moderate Buy with a revised price target of $50.00 following mixed evaluations from various financial institutions.

Deutsche Bank AG boosted its position in Potlatch Corporation (NASDAQ:PCH - Free Report) by 472.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 908,253 shares of the real estate investment trust's stock after acquiring an additional 749,491 shares during the quarter. Deutsche Bank AG owned 1.15% of Potlatch worth $40,980,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC raised its holdings in Potlatch by 3.3% during the fourth quarter. LPL Financial LLC now owns 20,266 shares of the real estate investment trust's stock worth $795,000 after purchasing an additional 654 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Potlatch by 5.2% during the fourth quarter. Wells Fargo & Company MN now owns 267,277 shares of the real estate investment trust's stock worth $10,491,000 after purchasing an additional 13,142 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Potlatch by 41.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 33,548 shares of the real estate investment trust's stock worth $1,317,000 after purchasing an additional 9,759 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Potlatch during the fourth quarter worth approximately $2,128,000. Finally, Sterling Capital Management LLC raised its holdings in Potlatch by 806.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,503 shares of the real estate investment trust's stock worth $98,000 after purchasing an additional 2,227 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PCH. Citigroup reaffirmed a "buy" rating and issued a $47.00 target price (down from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. Truist Financial raised shares of Potlatch from a "hold" rating to a "buy" rating and lifted their target price for the company from $44.00 to $52.00 in a report on Wednesday, July 16th. Finally, Wall Street Zen cut shares of Potlatch from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $50.00.

Potlatch Stock Performance

NASDAQ:PCH traded down $0.82 during midday trading on Friday, reaching $42.96. The stock had a trading volume of 554,281 shares, compared to its average volume of 525,086. The firm has a fifty day simple moving average of $40.53 and a two-hundred day simple moving average of $41.52. Potlatch Corporation has a 12-month low of $36.82 and a 12-month 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 stock has a market cap of $3.32 billion, a P/E ratio of 81.06 and a beta of 1.12.

Potlatch (NASDAQ:PCH - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $267.66 million. During the same period last year, the firm posted $0.17 EPS. Potlatch's quarterly revenue was down 14.2% on a year-over-year basis. On average, equities analysts expect that Potlatch Corporation will post 0.8 EPS for the current year.

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.