Heartland Advisors Inc. Sells 48,006 Shares of 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. lessened its holdings in Potlatch Corporation (NASDAQ:PCH - Free Report) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 422,525 shares of the real estate investment trust's stock after selling 48,006 shares during the period. Potlatch comprises 1.1% of Heartland Advisors Inc.'s holdings, making the stock its 15th biggest holding. Heartland Advisors Inc. owned approximately 0.54% of Potlatch worth $19,064,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCH. Cetera Investment Advisers lifted its stake in shares of Potlatch by 8.5% in the first quarter. Cetera Investment Advisers now owns 11,428 shares of the real estate investment trust's stock worth $516,000 after acquiring an additional 898 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Potlatch in the first quarter worth approximately $2,293,000. Kennondale Capital Management LLC acquired a new position in shares of Potlatch in the first quarter worth approximately $206,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Potlatch in the first quarter worth approximately $52,000. Finally, Kestra Private Wealth Services LLC acquired a new position in shares of Potlatch in the first quarter worth approximately $266,000. 86.06% of the stock is currently owned by institutional investors.

Potlatch Trading Down 2.6%

NASDAQ PCH opened at $40.68 on Friday. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 66.69 and a beta of 1.14. Potlatch Corporation has a 52 week low of $36.82 and a 52 week high of $48.12. The business has a 50 day moving average price of $39.52 and a 200-day moving average price of $41.38. The company has a quick ratio of 1.04, a current ratio of 1.43 and a debt-to-equity ratio of 0.45.

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. Potlatch had a return on equity of 2.36% and a net margin of 4.35%. The firm had revenue of $268.26 million during the quarter, compared to the consensus estimate of $243.68 million. The company's revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, equities analysts expect that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.

Potlatch Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.42%. Potlatch's dividend payout ratio is presently 295.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PCH shares. Truist Financial raised Potlatch from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $44.00 to $52.00 in a research note on Wednesday, July 16th. Citigroup restated a "buy" rating and set a $47.00 price objective (down previously from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Potlatch presently has an average rating of "Moderate Buy" and a consensus target price of $50.00.

Potlatch 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.

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