Nuveen LLC Makes New $10.50 Million Investment in 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 acquired a new position in Potlatch Corporation (NASDAQ:PCH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 232,776 shares of the real estate investment trust's stock, valued at approximately $10,503,000. Nuveen LLC owned about 0.30% of Potlatch at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PCH. Quarry LP grew its stake in shares of 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 acquiring an additional 482 shares during the last quarter. Harbor Capital Advisors Inc. grew 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 worth $30,000 after acquiring an additional 417 shares during the last quarter. Costello Asset Management INC acquired a new stake in shares of Potlatch in the first quarter worth $30,000. UMB Bank n.a. grew its stake in shares of Potlatch by 41.6% in the first quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 254 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Potlatch in the first quarter worth $52,000. Institutional investors and hedge funds own 86.06% of the company's stock.

Potlatch Price Performance

Potlatch stock traded down $0.19 during mid-day trading on Thursday, hitting $41.70. 316,692 shares of the company were exchanged, compared to its average volume of 542,798. The company has a quick ratio of 0.75, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $41.27 and a 200 day moving average of $41.41. Potlatch Corporation has a 1-year low of $36.82 and a 1-year high of $48.12. The company has a market capitalization of $3.22 billion, a PE ratio of 78.68 and a beta of 1.12.

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 (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $267.66 million. During the same period in the prior year, the company posted $0.17 earnings per share. The business's revenue for the quarter was down 14.2% compared to the same quarter last year. 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.3%. The ex-dividend date is Monday, September 15th. Potlatch's dividend payout ratio is currently 339.62%.

Analysts Set New Price Targets

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

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.