New York State Teachers Retirement System Has $4.13 Million Stake in Potlatch Corporation $PCH

Key Points

• The New York State Teachers Retirement System increased its stake in Potlatch Corporation by 7.0% during the second quarter, holding approximately $4.13 million worth of shares.
• Potlatch has recently faced mixed ratings from analysts, with a consensus of "Moderate Buy" and an average price target of $49.33.
• The company announced a quarterly dividend of $0.45, representing an annualized yield of 4.3%, despite having a high dividend payout ratio of 339.62%.

New York State Teachers Retirement System raised its position in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) by 7.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,677 shares of the real estate investment trust's stock after buying an additional 7,002 shares during the period. New York State Teachers Retirement System owned about 0.14% of Potlatch worth $4,132,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. UMB Bank n.a. increased its holdings in shares of Potlatch by 32.3% during the second quarter. UMB Bank n.a. now owns 1,143 shares of the real estate investment trust's stock worth $44,000 after buying an additional 279 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Potlatch by 61.1% during the second quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust's stock worth $42,000 after buying an additional 411 shares in the last quarter. Quarry LP increased its holdings in shares of Potlatch by 70.9% during the first quarter. Quarry LP now owns 1,191 shares of the real estate investment trust's stock worth $54,000 after buying an additional 494 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Potlatch by 8.9% during the first quarter. Focus Partners Wealth now owns 6,920 shares of the real estate investment trust's stock worth $312,000 after buying an additional 565 shares in the last quarter. Finally, MGO One Seven LLC increased its holdings in shares of Potlatch by 10.1% during the second quarter. MGO One Seven LLC now owns 6,470 shares of the real estate investment trust's stock worth $248,000 after buying an additional 591 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Potlatch in a report on Wednesday, October 8th. Truist Financial dropped their price objective on shares of Potlatch from $52.00 to $51.00 and set a "buy" rating for the company in a report on Monday, October 13th. Zacks Research cut shares of Potlatch from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 15th. Citigroup reissued a "neutral" rating and set a $45.00 price target (down from $49.00) on shares of Potlatch in a research note on Wednesday, October 15th. Finally, Wall Street Zen cut shares of Potlatch from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Potlatch currently has a consensus rating of "Moderate Buy" and an average price target of $49.33.

Potlatch Price Performance

Shares of PCH stock opened at $42.07 on Tuesday. Potlatch Corporation has a 52-week low of $36.82 and a 52-week high of $48.12. The stock has a market cap of $3.25 billion, a PE ratio of 79.38 and a beta of 1.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.13. The firm's 50 day moving average price is $41.75 and its two-hundred day moving average price is $40.40.

Potlatch (NASDAQ:PCH - Get Free Report) last announced its quarterly earnings data on Friday, May 6th. The real estate investment trust reported $1.94 earnings per share (EPS) for the quarter. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. The firm had revenue of $354.19 million for the quarter. As a group, analysts forecast that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.80 dividend on an annualized basis and a yield of 4.3%. Potlatch's dividend payout ratio (DPR) is presently 339.62%.

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.

Want to see what other hedge funds are holding PCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Potlatch Corporation (NASDAQ:PCH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.