Picton Mahoney Asset Management purchased a new stake in Potlatch Corporation (NASDAQ:PCH - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 33,953 shares of the real estate investment trust's stock, valued at approximately $1,532,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PCH. Quarry LP increased its holdings in Potlatch by 224.2% during the 4th quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 482 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Potlatch by 168.1% in the 1st 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 period. UMB Bank n.a. boosted its stake in shares of Potlatch by 41.6% in the 1st quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust's stock worth $39,000 after buying an additional 254 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Potlatch during the first quarter valued at about $52,000. Finally, Fifth Third Bancorp boosted 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 valued at $85,000 after buying an additional 760 shares during the period. 86.06% of the stock is currently owned by hedge funds and other institutional investors.
Potlatch Price Performance
Shares of PCH traded up $0.65 during midday trading on Wednesday, reaching $42.30. The stock had a trading volume of 1,063,330 shares, compared to its average volume of 551,995. The firm's 50 day moving average price is $39.68 and its 200-day moving average price is $41.45. The company has a market capitalization of $3.32 billion, a P/E ratio of 79.81 and a beta of 1.14. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.04. Potlatch Corporation has a 52 week low of $36.82 and a 52 week high of $48.12.
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, beating the consensus estimate of $0.07 by $0.02. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. The business 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 company's revenue was down 14.2% on a year-over-year basis. On average, analysts forecast that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.
Potlatch Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.26%. The ex-dividend date was Friday, June 6th. Potlatch's payout ratio is currently 339.62%.
Wall Street Analysts Forecast Growth
PCH has been the topic of a number of recent analyst reports. Truist Financial raised shares of Potlatch from a "hold" rating to a "buy" rating and increased their price target for the stock from $44.00 to $52.00 in a report on Wednesday, July 16th. Citigroup restated a "buy" rating and set a $47.00 price objective (down from $49.00) on shares of Potlatch in a research note on Tuesday, June 3rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $50.00.
Read Our Latest Research Report on PCH
Potlatch Company Profile
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Free Report)
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.
Further Reading
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