Potlatch Corporation $PCH Shares Sold by Jump Financial LLC

Key Points

• Jump Financial LLC significantly reduced its stake in Potlatch Corporation by 79.8%, bringing its holdings down to 4,482 shares valued at $202,000.
• Potlatch Corporation recently announced a $0.45 quarterly dividend, representing a 4.3% yield and a payout ratio of 339.62%.
• Despite reporting a net margin decline and a year-over-year revenue drop of 14.2%, the company beat analyst estimates in earnings per share for the last quarter.

Jump Financial LLC cut its holdings in Potlatch Corporation (NASDAQ:PCH - Free Report) by 79.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,482 shares of the real estate investment trust's stock after selling 17,749 shares during the quarter. Jump Financial LLC's holdings in Potlatch were worth $202,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PCH. Northern Trust Corp lifted its stake in Potlatch by 8.7% in the fourth quarter. Northern Trust Corp now owns 1,233,250 shares of the real estate investment trust's stock worth $48,405,000 after acquiring an additional 98,914 shares during the period. Schonfeld Strategic Advisors LLC lifted its stake in Potlatch by 340.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 29,942 shares of the real estate investment trust's stock worth $1,175,000 after acquiring an additional 23,139 shares during the period. Algert Global LLC purchased a new stake in Potlatch in the fourth quarter worth about $283,000. Bank of America Corp DE lifted its stake in Potlatch by 11.0% in the fourth quarter. Bank of America Corp DE now owns 745,033 shares of the real estate investment trust's stock worth $29,243,000 after acquiring an additional 73,781 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in 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 worth $22,269,000 after acquiring an additional 408,355 shares during the period. 86.06% of the stock is owned by hedge funds and other institutional investors.

Potlatch Stock Down 0.1%

Shares of PCH stock traded down $0.06 during mid-day trading on Wednesday, hitting $41.56. 322,779 shares of the stock traded hands, compared to its average volume of 468,620. The stock has a market cap of $3.21 billion, a P/E ratio of 78.42 and a beta of 1.12. The stock's fifty day moving average is $41.75 and its two-hundred day moving average is $41.24. Potlatch Corporation has a 52-week low of $36.82 and a 52-week high of $48.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 0.75.

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

Potlatch Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently weighed in on PCH shares. Citigroup reaffirmed 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. Truist Financial raised shares of Potlatch from a "hold" rating to a "buy" rating and upped their price objective for the stock from $44.00 to $52.00 in a research note on Wednesday, July 16th. Finally, Wall Street Zen lowered shares of Potlatch from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $50.00.

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.