26,964 Shares in Potlatch Corporation $PCH Acquired by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. has acquired 26,964 shares of Potlatch Corporation, which amounts to approximately $1.2 million in value, during the first quarter.
• Potlatch reported Q2 earnings with $0.09 EPS, surpassing analysts' expectations, although revenue fell 14.2% year-over-year.
• Potlatch Corporation announced a quarterly dividend of $0.45 per share, reflecting an annualized yield of 4.4% with a high dividend payout ratio of 339.62%.

Graham Capital Management L.P. bought a new position in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,964 shares of the real estate investment trust's stock, valued at approximately $1,217,000.

Several other institutional investors have also recently bought and sold shares of PCH. Harbor Capital Advisors Inc. raised its stake in Potlatch by 168.1% during the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 417 shares in the last quarter. Costello Asset Management INC bought a new stake in shares of Potlatch during the first quarter worth about $30,000. UMB Bank n.a. grew its holdings 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 purchasing an additional 254 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Potlatch during the first quarter worth about $52,000. Finally, Quarry LP grew its holdings 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 purchasing an additional 494 shares during the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PCH. Wall Street Zen cut 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 upped their target price for the company from $44.00 to $52.00 in a report on Wednesday, July 16th. Finally, Citigroup reiterated a "buy" rating and issued a $47.00 target price (down from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $50.00.

Potlatch Stock Performance

NASDAQ:PCH traded down $1.12 during trading on Tuesday, reaching $41.56. The company's stock had a trading volume of 74,495 shares, compared to its average volume of 519,732. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.13. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 78.43 and a beta of 1.12. 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 of $41.69 and a 200-day moving average of $41.24.

Potlatch (NASDAQ:PCH - Get Free Report) last issued its earnings results on Monday, July 28th. The real estate investment trust reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.The business had revenue of $274.99 million during the quarter, compared to the consensus estimate of $267.66 million. During the same quarter last year, the company earned $0.17 EPS. The firm's revenue was down 14.2% compared to the same quarter last year. Research analysts expect that Potlatch Corporation will post 0.8 EPS for the current fiscal year.

Potlatch Dividend Announcement

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

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.