Natixis Advisors LLC Buys 16,829 Shares of Potlatch Corporation (NASDAQ:PCH)

Key Points

• Natixis Advisors LLC increased its holdings in Potlatch Corporation by 136.0%, owning 29,200 shares valued at approximately $1.32 million as of the latest SEC filing.
• Potlatch's recent quarterly earnings demonstrated a 2-cent beat on EPS estimates, reporting $0.09 compared to the expected $0.07, amid a 14.2% decline in revenue year-over-year.
• Analyst ratings vary, with Citigroup maintaining a "buy" rating, while Wall Street Zen downgraded it to "sell," resulting in a consensus rating of "Moderate Buy" and a target price of $50.00.

Natixis Advisors LLC increased its position in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) by 136.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,200 shares of the real estate investment trust's stock after buying an additional 16,829 shares during the period. Natixis Advisors LLC's holdings in Potlatch were worth $1,318,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PCH. Quarry LP grew its holdings in Potlatch by 224.2% in the fourth quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 482 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Potlatch by 168.1% during 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 last quarter. UMB Bank n.a. grew its holdings in shares of Potlatch by 41.6% during the first 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 position in shares of Potlatch during the first quarter valued at about $52,000. Finally, Fifth Third Bancorp grew its holdings in shares of Potlatch by 67.1% during the first quarter. Fifth Third Bancorp now owns 1,893 shares of the real estate investment trust's stock valued at $85,000 after buying an additional 760 shares during the last quarter. Institutional investors own 86.06% of the company's stock.

Wall Street Analyst Weigh In

PCH has been the subject of a number of analyst reports. Wall Street Zen cut shares of Potlatch from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Truist Financial upgraded shares of Potlatch from a "hold" rating to a "buy" rating and lifted their price objective for the company from $44.00 to $52.00 in a report on Wednesday, July 16th. Finally, Citigroup reiterated a "buy" rating and set a $47.00 price objective (down from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat, Potlatch currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.00.

Potlatch Stock Down 1.9%

Potlatch stock traded down $0.86 during midday trading on Thursday, hitting $43.38. 96,007 shares of the stock were exchanged, compared to its average volume of 522,913. Potlatch Corporation has a 52-week low of $36.82 and a 52-week high of $48.12. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 81.86 and a beta of 1.12. The business's 50-day moving average price is $40.44 and its 200-day moving average price is $41.52. 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 (NASDAQ:PCH - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The business had revenue of $274.99 million for 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 revenue for the quarter was down 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 earnings per share. On average, research analysts expect that Potlatch Corporation will post 0.8 EPS for the current fiscal year.

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.