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

Several other institutional investors have also modified their holdings of PCH. Principal Financial Group Inc. boosted its holdings in shares of Potlatch by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 166,650 shares of the real estate investment trust's stock worth $7,519,000 after purchasing an additional 1,624 shares during the period. First Horizon Advisors Inc. bought a new stake in Potlatch in the first quarter worth $5,138,000. Cerity Partners LLC boosted its stake in Potlatch by 25.2% during the first quarter. Cerity Partners LLC now owns 26,915 shares of the real estate investment trust's stock worth $1,214,000 after buying an additional 5,422 shares during the period. Entropy Technologies LP bought a new position in Potlatch during the first quarter valued at $548,000. Finally, Bank of America Corp DE increased its position in Potlatch by 11.0% during the fourth quarter. Bank of America Corp DE now owns 745,033 shares of the real estate investment trust's stock valued at $29,243,000 after acquiring an additional 73,781 shares during the last quarter. 86.06% of the stock is owned by institutional investors.

Potlatch Price Performance

Shares of PCH stock opened at $41.56 on Thursday. The company has a market capitalization of $3.21 billion, a P/E ratio of 78.42 and a beta of 1.12. The company's 50-day simple moving average is $41.75 and its two-hundred day simple moving average is $41.24. Potlatch Corporation has a one year low of $36.82 and a one year high of $48.12. 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 results on Monday, July 28th. The real estate investment trust reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. The firm had revenue of $274.99 million during the quarter, compared to the consensus estimate of $267.66 million. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. The company's revenue was down 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 earnings per share. As a group, equities analysts anticipate that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.80 dividend on an annualized basis and a yield of 4.3%. Potlatch's payout ratio is 339.62%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup restated a "buy" rating and issued a $47.00 target price (down previously 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 raised their price objective for the stock from $44.00 to $52.00 in a research note on Wednesday, July 16th. Finally, Wall Street Zen lowered Potlatch from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $50.00.

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.

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