First Horizon Advisors Inc. Acquires New Holdings in Potlatch Corporation (NASDAQ:PCH)

First Horizon Advisors Inc. purchased a new stake in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 113,869 shares of the real estate investment trust's stock, valued at approximately $5,138,000. First Horizon Advisors Inc. owned approximately 0.14% of Potlatch at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. UMB Bank n.a. lifted its position in shares of Potlatch by 41.6% during the first 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 in the last quarter. EagleClaw Capital Managment LLC lifted its position in shares of Potlatch by 0.5% during the fourth quarter. EagleClaw Capital Managment LLC now owns 62,225 shares of the real estate investment trust's stock valued at $2,442,000 after purchasing an additional 300 shares in the last quarter. Capital Square LLC increased its holdings in Potlatch by 0.8% during the fourth quarter. Capital Square LLC now owns 41,030 shares of the real estate investment trust's stock worth $1,711,000 after buying an additional 337 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in Potlatch by 168.1% during the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock worth $30,000 after buying an additional 417 shares during the last quarter. Finally, Xponance Inc. increased its holdings in Potlatch by 4.3% during the fourth quarter. Xponance Inc. now owns 10,706 shares of the real estate investment trust's stock worth $420,000 after buying an additional 446 shares during the last quarter. 86.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Potlatch Stock Performance

Shares of PCH traded down $0.38 during trading hours on Monday, hitting $39.53. The company's stock had a trading volume of 864,960 shares, compared to its average volume of 477,374. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 64.80 and a beta of 1.14. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.43 and a quick ratio of 1.04. The business has a 50 day simple moving average of $39.02 and a two-hundred day simple moving average of $41.28. Potlatch Corporation has a 52-week low of $36.82 and a 52-week high of $48.12.

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 for the quarter, topping the consensus estimate of $0.20 by $0.13. The firm had revenue of $268.26 million during the quarter, compared to the consensus estimate of $243.68 million. Potlatch had a net margin of 4.35% and a return on equity of 2.36%. The company's revenue was up 17.6% compared to the same quarter last year. On average, equities analysts expect that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.

Potlatch Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.80 annualized dividend and a dividend yield of 4.55%. Potlatch's payout ratio is 295.08%.

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.