Peregrine Capital Management LLC Sells 21,365 Shares of Potlatch Corporation (NASDAQ:PCH)

Peregrine Capital Management LLC cut its position in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) by 15.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,417 shares of the real estate investment trust's stock after selling 21,365 shares during the quarter. Peregrine Capital Management LLC owned 0.15% of Potlatch worth $5,208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Potlatch by 1.6% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,178 shares of the real estate investment trust's stock valued at $2,445,000 after purchasing an additional 847 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Potlatch by 9.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 176,915 shares of the real estate investment trust's stock valued at $7,982,000 after buying an additional 14,780 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in Potlatch by 53.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 10,912 shares of the real estate investment trust's stock worth $492,000 after acquiring an additional 3,787 shares in the last quarter. Azzad Asset Management Inc. ADV purchased a new stake in Potlatch in the 1st quarter worth about $782,000. 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 acquiring an additional 760 shares during the period. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Potlatch Stock Down 1.7%

PCH stock traded down $0.71 during mid-day trading on Friday, hitting $39.98. The stock had a trading volume of 306,579 shares, compared to its average volume of 474,986. Potlatch Corporation has a 1-year low of $36.82 and a 1-year high of $48.12. The company has a fifty day moving average of $39.02 and a 200 day moving average of $41.24. The company has a current ratio of 1.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 65.54 and a beta of 1.14.

Potlatch (NASDAQ:PCH - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.13. Potlatch had a net margin of 4.35% and a return on equity of 2.36%. The business had revenue of $268.26 million for the quarter, compared to the consensus estimate of $243.68 million. The business's quarterly revenue was up 17.6% compared to the same quarter last year. On average, equities analysts expect that Potlatch Corporation will post 0.8 EPS for the current fiscal year.

Potlatch Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date was Friday, June 6th. Potlatch's payout ratio is 295.08%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Truist Financial dropped their target price on Potlatch from $44.00 to $42.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Citigroup reaffirmed 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.57.

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.