113,869 Shares in Potlatch Corporation (NASDAQ:PCH) Bought by First Horizon Advisors Inc.

First Horizon Advisors Inc. bought a new stake in Potlatch Corporation (NASDAQ:PCH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Potlatch by 1.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,178 shares of the real estate investment trust's stock worth $2,445,000 after purchasing an additional 847 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Potlatch by 9.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 176,915 shares of the real estate investment trust's stock valued at $7,982,000 after buying an additional 14,780 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Potlatch by 53.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 10,912 shares of the real estate investment trust's stock valued at $492,000 after buying an additional 3,787 shares during the last quarter. Azzad Asset Management Inc. ADV bought a new position in shares of Potlatch during the 1st quarter worth approximately $782,000. Finally, Fifth Third Bancorp increased its holdings in shares of Potlatch by 67.1% during the 1st quarter. Fifth Third Bancorp now owns 1,893 shares of the real estate investment trust's stock worth $85,000 after acquiring an additional 760 shares during the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on PCH. Truist Financial lowered their price target on shares of Potlatch from $44.00 to $42.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Citigroup reiterated a "buy" rating and issued a $47.00 price target (down from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Potlatch has a consensus rating of "Moderate Buy" and a consensus target price of $48.57.

Potlatch Stock Performance

Potlatch stock traded down $0.38 during mid-day trading on Monday, reaching $39.53. The company's stock had a trading volume of 864,960 shares, compared to its average volume of 510,982. The firm's fifty day moving average price is $39.02 and its two-hundred day moving average price is $41.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.04 and a current ratio of 1.43. Potlatch Corporation has a 12-month low of $36.82 and a 12-month high of $48.12. The company has a market capitalization of $3.11 billion, a P/E ratio of 64.80 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 EPS for the quarter, topping the consensus estimate of $0.20 by $0.13. Potlatch had a return on equity of 2.36% and a net margin of 4.35%. The business had revenue of $268.26 million during the quarter, compared to analysts' expectations of $243.68 million. The firm's revenue was up 17.6% on a year-over-year basis. Sell-side analysts predict that Potlatch Corporation will post 0.8 EPS for the current fiscal year.

Potlatch Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend was Friday, June 6th. Potlatch's dividend payout ratio (DPR) is currently 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.