Graham Capital Management L.P. Purchases New Shares in Potlatch Corporation $PCH

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 Potlatch Corporation (NASDAQ:PCH - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 26,964 shares of the real estate investment trust's stock, valued at approximately $1,217,000.

Several other institutional investors also recently bought and sold shares of the stock. Deutsche Bank AG boosted its holdings in Potlatch by 472.1% in the first quarter. Deutsche Bank AG now owns 908,253 shares of the real estate investment trust's stock valued at $40,980,000 after purchasing an additional 749,491 shares during the period. Balyasny Asset Management L.P. lifted its holdings in shares of Potlatch by 256.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 567,371 shares of the real estate investment trust's stock valued at $22,269,000 after purchasing an additional 408,355 shares in the last quarter. Deprince Race & Zollo Inc. increased its position in Potlatch by 17.5% during the fourth quarter. Deprince Race & Zollo Inc. now owns 2,359,832 shares of the real estate investment trust's stock worth $92,623,000 after buying an additional 351,777 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Potlatch by 51.8% in the 1st quarter. Russell Investments Group Ltd. now owns 819,782 shares of the real estate investment trust's stock worth $36,989,000 after buying an additional 279,654 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in shares of Potlatch in the 1st quarter worth $12,301,000. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PCH. Truist Financial raised Potlatch from a "hold" rating to a "buy" rating and raised their target price for the stock from $44.00 to $52.00 in a research report on Wednesday, July 16th. Citigroup restated a "buy" rating and set a $47.00 price objective (down from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Finally, Wall Street Zen lowered shares of Potlatch from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Potlatch has an average rating of "Buy" and an average target price of $50.00.

Potlatch Price Performance

Shares of PCH traded down $0.27 during trading hours on Monday, hitting $42.61. 308,631 shares of the company were exchanged, compared to its average volume of 521,214. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 80.29 and a beta of 1.12. The firm's fifty day moving average is $41.61 and its 200 day moving average is $41.26. The company has a quick ratio of 0.75, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. Potlatch Corporation has a fifty-two week low of $36.82 and a fifty-two week high of $48.12.

Potlatch (NASDAQ:PCH - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.02. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.The company had revenue of $274.99 million for the quarter, compared to analyst estimates of $267.66 million. During the same period in the previous year, the company posted $0.17 EPS. The firm's revenue for the quarter was down 14.2% compared to the same quarter last year. On average, equities analysts anticipate that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.

Potlatch Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, September 15th. Potlatch's payout ratio 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.