Foresight Group Ltd Liability Partnership Reduces Stock Position in Potlatch Corporation $PCH

Key Points

• Foresight Group Ltd reduced its stake in Potlatch Corporation by 9.7% during the 1st quarter, selling 7,308 shares and now owning approximately 67,901 shares valued at about $3.04 million.
• Potlatch recently reported earnings of $0.09 per share, exceeding expectations, but its revenue decreased by 14.2% year-over-year.
• The company declared a quarterly dividend of $0.45 per share, with a payout ratio of 339.62%, reflecting a yield of 4.3%.

Foresight Group Ltd Liability Partnership decreased its stake in Potlatch Corporation (NASDAQ:PCH - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,901 shares of the real estate investment trust's stock after selling 7,308 shares during the period. Foresight Group Ltd Liability Partnership owned 0.09% of Potlatch worth $3,042,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its position in Potlatch by 168.1% during 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. Costello Asset Management INC acquired a new stake in shares of Potlatch during the first quarter worth $30,000. UMB Bank n.a. increased 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 worth $39,000 after buying an additional 254 shares during the period. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Potlatch during the first quarter worth $52,000. Finally, Quarry LP increased its position in shares of Potlatch by 70.9% during the first quarter. Quarry LP now owns 1,191 shares of the real estate investment trust's stock worth $54,000 after buying an additional 494 shares during the period. Institutional investors and hedge funds own 86.06% of the company's stock.

Potlatch Stock Performance

Shares of NASDAQ PCH traded up $0.14 during midday trading on Tuesday, reaching $40.65. The company's stock had a trading volume of 154,680 shares, compared to its average volume of 517,058. Potlatch Corporation has a 12-month low of $36.82 and a 12-month high of $48.12. The firm has a 50 day moving average price of $41.85 and a 200-day moving average price of $41.09. The stock has a market capitalization of $3.14 billion, a P/E ratio of 76.58 and a beta of 1.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 0.75.

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, topping the consensus estimate of $0.07 by $0.02. The business had revenue of $274.99 million for the quarter, compared to analysts' expectations of $267.66 million. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.The business's revenue was down 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 earnings per share. As a group, equities analysts predict that Potlatch Corporation will post 0.8 earnings per share for the current year.

Potlatch Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.45 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.80 annualized dividend and a yield of 4.4%. Potlatch's dividend payout ratio is presently 339.62%.

Analysts Set New Price Targets

A number of analysts have weighed in on PCH shares. Wall Street Zen downgraded Potlatch from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Truist Financial upgraded Potlatch from a "hold" rating to a "buy" rating and increased their price target for the stock from $44.00 to $52.00 in a report on Wednesday, July 16th. Finally, Citigroup reaffirmed a "buy" rating and set a $47.00 target price (down previously from $49.00) on shares of Potlatch in a research note on Tuesday, June 3rd. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $49.83.

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.