Nuveen LLC Acquires Shares of 232,776 Potlatch Corporation $PCH

Key Points

• Nuveen LLC acquired 232,776 shares of Potlatch Corporation (NASDAQ:PCH) in the first quarter, representing a stake of approximately 0.30% valued at around $10.5 million.
• Analysts have mixed views on Potlatch, with Truist Financial upgrading it to a "buy" rating and Citigroup maintaining a "buy" rating, while Wall Street Zen downgraded it to a "sell".
• Potlatch reported a decrease in revenue by 14.2% year-over-year, posting $0.09 earnings per share, which was above the consensus estimate of $0.07.

Nuveen LLC purchased a new position in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 232,776 shares of the real estate investment trust's stock, valued at approximately $10,503,000. Nuveen LLC owned 0.30% of Potlatch as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. UMB Bank n.a. grew its holdings in Potlatch by 41.6% during the first quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 254 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Potlatch by 168.1% during the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 417 shares during the period. Quarry LP grew its holdings in Potlatch by 224.2% during 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. Costello Asset Management INC acquired a new stake in Potlatch during the first quarter worth approximately $30,000. Finally, Fifth Third Bancorp lifted its position in Potlatch by 67.1% during the first quarter. Fifth Third Bancorp now owns 1,893 shares of the real estate investment trust's stock worth $85,000 after acquiring an additional 760 shares during the last quarter. Institutional investors own 86.06% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on PCH. Citigroup restated a "buy" rating and set a $47.00 price objective (down from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Truist Financial upgraded shares of Potlatch from a "hold" rating to a "buy" rating and raised their price objective for the stock from $44.00 to $52.00 in a research report on Wednesday, July 16th. Finally, Wall Street Zen downgraded shares of Potlatch from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, Potlatch currently has an average rating of "Buy" and an average target price of $50.00.

Potlatch Price Performance

Shares of NASDAQ PCH traded down $0.72 during midday trading on Tuesday, reaching $42.69. The company's stock had a trading volume of 639,273 shares, compared to its average volume of 525,734. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.13. Potlatch Corporation has a fifty-two week low of $36.82 and a fifty-two week high of $48.12. The business's 50 day moving average price is $41.03 and its two-hundred day moving average price is $41.42. The company has a market cap of $3.30 billion, a P/E ratio of 80.55 and a beta of 1.12.

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

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.