GAMMA Investing LLC raised its position in Potlatch Corporation (NASDAQ:PCH - Free Report) by 6,678.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,366 shares of the real estate investment trust's stock after purchasing an additional 29,918 shares during the period. GAMMA Investing LLC's holdings in Potlatch were worth $1,370,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. Quarry LP raised its position in Potlatch by 224.2% in the 4th quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 482 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of Potlatch by 806.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,503 shares of the real estate investment trust's stock worth $98,000 after purchasing an additional 2,227 shares during the last quarter. GeoWealth Management LLC bought a new stake in Potlatch in the fourth quarter valued at approximately $131,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Potlatch during the 4th quarter valued at $150,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of Potlatch during the 4th quarter worth about $217,000. 86.06% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the company. Truist Financial lowered their target price on Potlatch from $44.00 to $42.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Citigroup reiterated a "buy" rating and set a $47.00 price objective (down previously 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $48.57.
Read Our Latest Stock Report on PCH
Potlatch Price Performance
Shares of NASDAQ:PCH traded down $0.95 during trading on Tuesday, reaching $37.71. 629,930 shares of the company traded hands, compared to its average volume of 475,001. The firm has a market capitalization of $2.96 billion, a PE ratio of 63.38 and a beta of 1.17. Potlatch Corporation has a 52 week low of $36.82 and a 52 week high of $48.12. The company has a quick ratio of 1.04, a current ratio of 1.43 and a debt-to-equity ratio of 0.45. The company's 50 day moving average is $39.09 and its two-hundred day moving average is $41.63.
Potlatch (NASDAQ:PCH - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.13. The company 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 business's revenue for the quarter was up 17.6% on a year-over-year basis. As a group, sell-side analysts predict that Potlatch Corporation will post 0.8 earnings per share for the current year.
Potlatch Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.45 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.80 annualized dividend and a dividend yield of 4.77%. Potlatch's payout ratio is 295.08%.
About Potlatch
(
Free Report)
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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