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Moors & Cabot Inc. Sells 7,526 Shares of Potlatch Corporation (NASDAQ:PCH)

Potlatch logo with Construction background

Key Points

  • Moors & Cabot Inc. has reduced its stock holdings in Potlatch Corporation by 53.4%, now owning 6,580 shares valued at $297,000.
  • Several institutional investors, including Legal & General and Westwood Holdings Group, have increased their positions in Potlatch during the last quarter, highlighting interest from major investment firms.
  • Analysts have mixed ratings for Potlatch, with a consensus target price of $50.00, while one analyst downgraded it from "hold" to "sell" amidst fluctuating market perceptions.
  • Five stocks we like better than Potlatch.

Moors & Cabot Inc. decreased its holdings in Potlatch Corporation (NASDAQ:PCH - Free Report) by 53.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,580 shares of the real estate investment trust's stock after selling 7,526 shares during the period. Moors & Cabot Inc.'s holdings in Potlatch were worth $297,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Quarry LP increased its holdings in Potlatch by 224.2% in the 4th quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 482 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of 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 buying an additional 417 shares during the period. UMB Bank n.a. raised 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 buying an additional 254 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Potlatch during the 1st quarter worth approximately $52,000. Finally, Fifth Third Bancorp boosted its position in Potlatch by 67.1% during the 1st 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 period. Institutional investors and hedge funds own 86.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PCH shares. Citigroup reaffirmed a "buy" rating and set a $47.00 price target (down previously from $49.00) on shares of Potlatch in a research note on Tuesday, June 3rd. Wall Street Zen downgraded Potlatch from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Truist Financial raised Potlatch from a "hold" rating to a "buy" rating and increased their price target for the company from $44.00 to $52.00 in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.00.

View Our Latest Report on PCH

Potlatch Trading Down 0.7%

Shares of Potlatch stock traded down $0.29 on Wednesday, hitting $42.77. 470,308 shares of the company's stock traded hands, compared to its average volume of 638,376. The company has a fifty day moving average of $39.94 and a two-hundred day moving average of $41.48. Potlatch Corporation has a one year low of $36.82 and a one year high of $48.12. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 80.70 and a beta of 1.12. 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 data 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 company 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%. Potlatch's revenue for the quarter was down 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 EPS. As a group, sell-side analysts expect that Potlatch Corporation will post 0.8 earnings per share for the current year.

Potlatch Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Friday, June 6th. Potlatch's payout ratio is presently 339.62%.

Potlatch Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Potlatch (NASDAQ:PCH)

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