Jump Financial LLC Sells 17,749 Shares of Potlatch Corporation $PCH

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 stake in Potlatch Corporation (NASDAQ:PCH - Free Report) by 79.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,482 shares of the real estate investment trust's stock after selling 17,749 shares during the period. Jump Financial LLC's holdings in Potlatch were worth $202,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PCH. Harbor Capital Advisors Inc. increased its position in shares of Potlatch by 168.1% during the 1st quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 417 shares during the period. Costello Asset Management INC acquired a new stake in Potlatch in the 1st quarter valued at about $30,000. UMB Bank n.a. lifted its holdings in 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 acquiring an additional 254 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Potlatch in the 1st quarter valued at about $52,000. Finally, Fifth Third Bancorp lifted its holdings in Potlatch by 67.1% in the 1st quarter. Fifth Third Bancorp now owns 1,893 shares of the real estate investment trust's stock valued at $85,000 after acquiring an additional 760 shares during the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.

Wall Street Analysts Forecast Growth

PCH has been the subject of a number of research analyst reports. Citigroup reissued a "buy" rating and issued a $47.00 price target (down from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. Truist Financial raised shares of Potlatch from a "hold" rating to a "buy" rating and upped their price target for the company from $44.00 to $52.00 in a report on Wednesday, July 16th. Finally, Wall Street Zen downgraded shares of Potlatch from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $50.00.

Potlatch Stock Up 1.6%

Shares of PCH traded up $0.67 during mid-day trading on Friday, reaching $42.87. The company's stock had a trading volume of 419,504 shares, compared to its average volume of 458,535. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 80.89 and a beta of 1.12. The business has a fifty day moving average of $41.61 and a 200 day moving average of $41.29. 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 1 year low of $36.82 and a 1 year high of $48.12.

Potlatch (NASDAQ:PCH - Get Free Report) last posted its quarterly 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. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.The firm 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 firm earned $0.17 earnings per share. Potlatch's quarterly revenue was down 14.2% on a year-over-year basis. As a group, analysts forecast that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.

Potlatch Announces Dividend

The business 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 $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, September 15th. Potlatch's dividend payout ratio is 339.62%.

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.