Heartland Advisors Inc. Has $19.06 Million Position in Potlatch Corporation (NASDAQ:PCH)

Key Points

• Heartland Advisors Inc. sold 48,006 shares of Potlatch Corporation, reducing its holdings by 10.2%, with the stock now representing 1.1% of its portfolio.
• Potlatch's quarterly earnings were reported at $0.33 per share, exceeding analysts' expectations of $0.20, along with a revenue increase of 17.6% year-over-year.
• The company declared a quarterly dividend of $0.45 per share, resulting in an annualized dividend yield of 4.42%.

Heartland Advisors Inc. decreased its stake in Potlatch Corporation (NASDAQ:PCH - Free Report) by 10.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 422,525 shares of the real estate investment trust's stock after selling 48,006 shares during the quarter. Potlatch makes up about 1.1% of Heartland Advisors Inc.'s holdings, making the stock its 15th biggest position. Heartland Advisors Inc. owned approximately 0.54% of Potlatch worth $19,064,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. lifted its stake in Potlatch by 168.1% in the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 417 shares during the last quarter. Quarry LP lifted its stake in shares of 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 purchasing an additional 482 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Potlatch by 41.6% in the 1st quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 254 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Potlatch in the first quarter worth $52,000. Finally, Fifth Third Bancorp increased its position in Potlatch by 67.1% during the first quarter. Fifth Third Bancorp now owns 1,893 shares of the real estate investment trust's stock worth $85,000 after buying an additional 760 shares during the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PCH. Truist Financial raised Potlatch from a "hold" rating to a "buy" rating and boosted their price target for the stock from $44.00 to $52.00 in a research report on Wednesday, July 16th. Citigroup reissued a "buy" rating and issued a $47.00 price objective (down from $49.00) on shares of Potlatch in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $50.00.

Potlatch Stock Performance

Shares of NASDAQ:PCH traded up $1.19 during midday trading on Tuesday, hitting $41.75. The company's stock had a trading volume of 484,857 shares, compared to its average volume of 515,735. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.04 and a current ratio of 1.43. The stock's 50 day simple moving average is $39.56 and its 200 day simple moving average is $41.44. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 68.29 and a beta of 1.14. 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 announced its 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 return on equity of 2.36% and a net margin of 4.35%. The firm's revenue for the quarter was down 14.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 EPS. As a group, research analysts anticipate that Potlatch Corporation will post 0.8 earnings per share for the current year.

Potlatch Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were paid a $0.45 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.80 annualized dividend and a dividend yield of 4.31%. Potlatch's payout ratio is 295.08%.

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.