GAMMA Investing LLC Has $1.37 Million Stock Holdings in Potlatch Corporation (NASDAQ:PCH)

GAMMA Investing LLC raised its stake in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) by 6,678.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,366 shares of the real estate investment trust's stock after acquiring an additional 29,918 shares during the quarter. GAMMA Investing LLC's holdings in Potlatch were worth $1,370,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Potlatch during the 4th quarter worth approximately $217,145,000. Balyasny Asset Management L.P. grew its holdings in shares of Potlatch by 256.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 567,371 shares of the real estate investment trust's stock worth $22,269,000 after purchasing an additional 408,355 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in shares of Potlatch by 17.5% in the fourth quarter. Deprince Race & Zollo Inc. now owns 2,359,832 shares of the real estate investment trust's stock valued at $92,623,000 after buying an additional 351,777 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Potlatch by 12.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,404,064 shares of the real estate investment trust's stock valued at $94,360,000 after buying an additional 260,674 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Potlatch by 27.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,145,473 shares of the real estate investment trust's stock valued at $44,960,000 after buying an additional 245,026 shares during the last quarter. 86.06% of the stock is owned by institutional investors.

Potlatch Trading Up 1.7%

Shares of NASDAQ PCH traded up $0.64 during mid-day trading on Thursday, hitting $38.35. The company's stock had a trading volume of 529,650 shares, compared to its average volume of 475,844. Potlatch Corporation has a one year low of $36.82 and a one year high of $48.12. The company's fifty day simple moving average is $38.99 and its 200-day simple moving average is $41.58. 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 stock has a market cap of $3.01 billion, a price-to-earnings ratio of 62.87 and a beta of 1.17.

Potlatch (NASDAQ:PCH - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.13. The firm had revenue of $268.26 million for the quarter, compared to analysts' expectations of $243.68 million. Potlatch had a net margin of 4.35% and a return on equity of 2.36%. The firm's revenue was up 17.6% on a year-over-year basis. On average, sell-side analysts anticipate that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.

Potlatch Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.69%. Potlatch's dividend payout ratio (DPR) is presently 295.08%.

Analyst Upgrades and Downgrades

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

Potlatch Company 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.